Anyone trading from Panama?
- Thread starter Apux
- Start date
Isn't the limit only to $100k before you have to start paying tax? Probably better off in Puerto Rico.
Rofl. All these posts about taxes in other countries.
Go talk to a Tax Lawyer/CPA. People get wealthy through the US tax code, not their income.
Does having a high income help? Is there some type of minimum income you need in order to make it worth your while? Yes you do - meaning making 30k and taking advantage of the tax code wont make you wealthy.
making 200k+ and taking advantage of the tax code will make you wealthy.
CPAs used to do conferences on this very thing back in the day.
Its comical - as if taxes are the reasons your bottom line is shit. No, its probably your trading, study more and apply what you are learning as perfect as you can.
Go talk to a Tax Lawyer/CPA. People get wealthy through the US tax code, not their income.
Does having a high income help? Is there some type of minimum income you need in order to make it worth your while? Yes you do - meaning making 30k and taking advantage of the tax code wont make you wealthy.
making 200k+ and taking advantage of the tax code will make you wealthy.
CPAs used to do conferences on this very thing back in the day.
Its comical - as if taxes are the reasons your bottom line is shit. No, its probably your trading, study more and apply what you are learning as perfect as you can.
who is your broker?
Interactive brokers closed down corporate accounts in Panama and people had to open corporations in BVI.
The maximum tax rate in PR is 4%. Possibly 0%. If you save your money (so you don't have a ton of deductions) you can be saving over 30% of your income by moving there. If you plan on staying there for a decade and reinvest those returns it can be a substantial sum. At least with PR you can keep your citizenship. However, it's definitely much poorer and more isolated more the mainland.
Exactly. FUck that. I dont love money that much, its tool.