Trader's Tax Advantages as a Bona Fide Resident of Puerto Rico
Hello, I'm looking for advice from a tax firm that has expertise in taxation of futures' contracts, as relating to Puerto Rico tax laws. 1. Does a trader who trades futures' contracts for a living, declaring their earnings on a personal income tax, enjoy the federal capital tax gains exemption as a bona fide Puerto Rico resident? 2. If a trader also trades for a firm and gets a 1099 from that firm, will that trader enjoy any federal tax breaks as a bona fide Puerto Rico resident? 3. To enjoy capital gain tax breaks in Puerto Rico, do I need to make a $10,000 annual tax donation there and buy residential real estate within 2 years of moving? Are there any other requirements? 4. What will my local tax rate be for the 1099 earnings? Are they subject to 15% self employment tax in Puerto Rico? 4. Does your firm prepare tax returns for traders in my situation (futures traded under my personal name and a 1099 received from a trading firm)? How long have you been in business and what the estimated cost of my tax return would be? Thank you kindly for your response.
