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I'd love to learn

wanna know something funny, if each one of the homeless people in America went to DC, no one would be able to move around at all

Thank you so much❤

I highly recommend NOT moving to Puerto Rico for the Act60 tax benefits. Theres a ton of controversy surrounding them, and they are getting very strict with the rules to be eligible to be on Act60. Local Puerto Ricans hate it because its causing gentrification to the island with Non-Puerto Rican Americans moving in with no relation to the island and with more buying power buying up entire neighborhoods, public areas, and historical sites then going on to turn them all into private resorts, vacation homes, and Airbnb businesses. Because of all this, a movement called the GringoGoHome movement has been growing big time, and there have been many protests throughout the island to have Act60 removed. Also, many financial gurus and economists have said that Puerto Ricos Act60 is very likely to be taken down in the near future because it's actually doing more harm to both Puerto Rico and the US economies. Channels like the Wealthy Expat and Nomad Capitalist have talked about it multiple times and explain why it’s a No Go, and there’s better and safer places to move to than a US territory to follow a bunch of strict rules just so you can get away with paying little taxes. Congress has been demanding the Puerto Rican government take down Act60 because it’s losing the US billions of tax dollars and many people who are on Act60 are using it as a tax loophole to cheat paying taxes on the island by pretending to live there. Already over 100 people have been caught and arrested, and many more are under investigation by the IRS. The only reason Act60 is still up is because the current corrupt governor Pedro Pierluisi and his party are using it as leverage to pressure congress to make the island the 51st state. And they are open about this plan, when congress ordered them to take it down, Pierluisi said he’ll only do it if they make the island a state first. November is the elections on the island and their party has been losing a ton of support because of all the corruption being exposed, and all the other parties are forming an alliance against them. If their party loses the governorship and they don’t get the majority in both house legislatures, then definitely Act60 is dead. All in all, I’m not saying Puerto Rico sucks, I just highly recommend not moving your entire life there just because you want to pay less taxes, when there’s a ton of issues going on in the island. And you should hope no Puerto Rican influencers see this video, if they do, they will blast you all over social media as someone who is promoting Gentrification, Displacement, and Colonization of the homeland.

Yeah I don't listen to advise from bald ppl.

What would you consider high

What about the 7 day rule? Thanks for the vid!

😅

Can you tell me how to commit tax evasion?

It is a flow through entity you are taxed on your 1065 and K1 on to your 1040.🤘

Do not do things suggested by a youtuber, get a tax professional

💔 'Promo sm'

This is the worst advice I’ve ever heard, please consult someone who actually knows what they’re talking about, definitely do not put your Airbnb income on a schedule E unless you enjoy audits

what if you're thinking about doing rental arbitrage in the state of california? does that same business structure you outlined still reign true?

Can you write off income from the W2? If I make 100k on a W2 and 5k from a side hustle can I write off 30k lowering my tax burden on my W2?

🌟 ᑭᖇOᗰOᔕᗰ

Can I use my W2 and 1099 money to help fund/ build my Airbnb and use alll the thing I am busy as a tax write off?

Aku

Aku

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Though I am not self employed at this moment, I did glean valuable information. Thanks for posting.