Many Questions about Puerto Rico

Hi Puertorriqueña,
It is no different than moving to another state for the most part (except for taxes).
You need a change of address card to people and businesses that you want to reach you.
You need a new driver license (I think 90 days)
You need to register for voting.
Jobs are hard to come by, but if you get one, it is the same as the states except they will take out SSN and Medicare, PR taxes, but no federal.
If you are not getting any income from the US, then you are done filling Federal except for any income prior to moving to the island, the same for your old state.
If you do get some US income then you will file federal taxes for the income you get from the US, the income from PR is except.
Hacienda has online forms to file your PR taxes, but I would suggest using a tax service for the first year.

Once in the island speak with the locals, they can tell you about doctors and any goverment assistance you may need.

Other than taxes it's the same as moving to another state.
Welcome to the forum, ask away.
Hope you too make it to La Isla Del Encanto soon.
Rey

PS. As a Puerto Rican living in the states and planning to go back to PR, you are required to learn by heart the song "En mi Viejo San Juan" preferably by Javier Solis, this song never fails to bring tears to my eyes.

For those that do not understand Spanish .... The song is about a native Puerto Rican, singing about twists of fate forcing him to leave the island and coming to a strange land but his heart staying in Puerto Rico, as the years pass and his hairs turn white, he sees his life not lasting long and wishing to go back to his island.

Good morning Rey...thank you for the information...sounds like it's just like moving to another state.

I do receive SS retirement already and a pension...how do those stand with taxes in Puerto Rico,  and will they be subject to new taxes there?
I already pay federal tax on my pension...how does that get affected? Or do NYC pensions and SS benefits count as income there and subject to additional taxes?

These are some of the questions I have now...more later...as answers lead to more questions.

Thank you so much...
Puertorriqueña

I am not a tax person, but to my knowledge the social security and pension pay federal taxes, so they do not count toward income in Puerto Rico. A lot of people from the states that moved to Puerto Rico pay zero PR taxes since they do not have PR income. By the way, medicare will also be thesame as the states. The SSI that is payed to some in the states do not exist in PR.

Hi Rey...Thank you...this is important info.

My social security is not SSI ...it is retirement after working a lifetime and paying into the system.

My pension is from NYC and this is taxed by Federal gov.

I am guessing I may need to consult a tax accountant who should know the answers to these tax questions that are quite important and one needs to know beforehand.

It's a bit confusing...but critical issues that could turn quite serious and complicated if not fully understood.

Thanks Rey.

Puertorriqueña

Yes please check with a tax consultant, but I do believe it will be close to what I stated above.

Several of the members in this forum have both Social Security payments and some sort of pension, some have the same as you NYC pension. Hope they jump in and give you more info.

Since you will not be paying NY state tax, you will be saving a little but the IVU which is similar to a sales tax is very hight at 11.5%, the more you buy in PR the more you pay, so a lot of people buy from Amazon and they don't have to pay the IVU.
You will be fine, the only thing that worries me a little is the chances of getting a job.

Most in PR make less than 2k a month for a family of 3, so it is possible that you will not need to work or just work part time.

I do not have a pension but what I will get from Social Security should more than cover me nicely plus I have a nice IRA that I can draw from if I were to need it which is not likely. When I get to 70 1/2 I will be forced to draw from it but in the mean time I plan to let it grow.

Hi Rey...I apprecate your dedicated responses...they are very useful to me...I'll check back later...great discussion...hope others with similar experience jump in and shed more light on these questions I am struggling with.

Thanks to you Rey...and others, we have this open forum to share life and living experiences...

I have an appointment...on the way out...I'll check in later.

Thank you so much...

Puertorriqueña

Hi Rey...still looking for more feedback from you and/or others who may have a similar situation.
Question...does Hacienda have any of the tax information that I am looking for? If they do, is it better to call, send email or uses mail?

Thank you so much...
Puertorriqueña

Hi Rey...still looking for more feedback from you and/or others who may have a similar situation.
Question...does Hacienda have any of the tax information that I am looking for? If they do, is it better to call, send email or uses mail?

Thank you so much...
Puertorriqueña

It would not hurt to call, but it is hard to say how long you will be on the phone.
Sometimes it takes a few days for people to come an answer.

Your questions are a different subject as the above, it is best to start a new subject every time you have a question so others can see if they should get involved based on the subject tittle.

I have Social Security and a New York State Pension.  You still pay Federal taxes. You do not pay Puerto Rico income tax on this money.  You only pay Puerto Rico income tax on money that you earn in Puerto Rico. I also have Empire health insurance as part of my retirement benefit.  There are no Empire health insurance providers in Puerto Rico. If you want to know more how this works, let me know.

Good morning Rey...yes, you're quite right...actually not sure how my post ended in that area and a duplicate too...strange...

I asked about Hacienda because one of the other posts related to property, mentions Hacienda as a source...but if a caller has to wait forever to see if the phone gets answered, then it's not useful.

Wonder if IRS ( yes, the notorious IRS) would have any knowledge of income taxes in Puerto Rico...

I do prefer to rely on what others...like yourself and other members, have actually experienced...this always is the most accurate and helpful information.

Thank you Rey...I look forward to your feedback.

Have a great day...

Puertorriqueña.

Greetings...thank you for your input...yes, I certainly need to know more about the whole issue...uncertainties are very scary...

I do have a NYC pension already taxed...so that stays the same as you state...

I also have SS (retirement) with Medicare Part B deduction...

And, you touched on important topic that had slipped my mind...health insurance.

Currently, I have Medicare and the other 20% is UFT GHI.

Does this all change in Puerto Rico...how, what are options, what would I need to do?

Health care is another priority...what do you suggest and recommend?

So many questions!  I just don't want to put myself in a bad situation by not knowing exactly what to do...how to proceed!

Thank you for your feedback...
Puertorriqueña

Let's start a new subject for these. We are getting way off subject.

Hi Rey...I apologize...I was responding to another post...that's how it did go off property/tax topic into health insurance.
Maybe the "crowding of thoughts"...as relocation decisions at a later time in life...can be difficult and somewhat scary to sort out.

You, as well as other members are very helpful in helping me sort it all out.

Thanks Rey...

I send a message to moderators to move the thread to something like "many questions about Puerto Rico. Shortly they will be moved, no problem so your questions will better stand out and stay with what it is important to you.

Okay...good... thank you.

I look forward to receiving all feedback on the topic...actually, on the many topics.

Property taxes are handled by the CRIM office in your respective municipalities. There is usually one at each town most likely at the municipal house "alcaldía ". Not sure if this will help.

Hi Adlin20...thank you for reaching out...everything helps.
My original question is about income taxes as those would relate to my NY pension and SS retirement...Rey and one other member clarified this for me.
The next question is on the health insurance forum...
As per your feedback...what does CRIM stand for?
Thank you once again.
Puertorriquena

Health insurance forum?
As to your question on health insurance, I think (Carroll) Frogrock (which responded about taxes) will be the one to speak with. I believe she has similar type of plan. Between the two plans She is fully covered in the states. In PR Medicare is about the same but not sure if her other plan works in PR, she will be able to give you first hand info when she is back online.

Hi Rey...okay, I'll wait for Frogrock to get back to me...

Thank you...everything helps.

Hi Puertorriquena,

Please note that a new thread has been created with your post on the Puerto Rico forum.

Thanks,

Priscilla

If you choose the right agent, he will guide your search in PR.

Esteban, could you please reply to the questions asked by Puertorriquena instead of posting obvious replies and promoting your own services on the platform ? Could you please read our forum code of conduct, particularly the chapter about advertisement on the forum ?

That would be really appreciated. Thanks in advance for your consideration