Absolutely anything else

My wife had her second knee replacement a week ago and it is recovering. Around August or Sept we plan to have her ankle operated on, so after the end of the year if all goes well the only thing keeping me in the mainland will be the selling of the house, so ...... Puerto Rico here I come (well more like a year depending on how quickly it sells).

I'd like a wife replacement, all but her nice knees.

Fred wrote:

I'd like a wife replacement, all but her nice knees.

LOL, I wonder what she wants.
Maybe an exchange for two 21 year old ones.

Well, we are going to be back at the island first week of May. My employer has agreed to let me work remotely, I will still have to travel to California every 5-6 weeks for a few days. I was going to retire this year but this way I am thinking I can work a few more years. I am looking forward to getting re adjusted to living in the island permanently.

ReyP wrote:

Fred wrote:

I'd like a wife replacement, all but her nice knees.

LOL, I wonder what she wants.
Maybe an exchange for two 21 year old ones.

She'd need three of them to replace me.

Adlin that sounds like a great idea and profitable also as you will not need to spend your savings and getting payed California rates will be great for the bottom line. Only negative is that it cuts down on beach bum time.

Yeah, is a win win situation. I am looking forward to working from the view of my balcony! Working California time zone will be good since we are night people. I can sleep until late and not be late to work. Lol

adlin20 wrote:

Yeah, is a win win situation. I am looking forward to working from the view of my balcony! Working California time zone will be good since we are night people. I can sleep until late and not be late to work. Lol

What a great opportunity!  Hoping for the same thing in my near future.  I've been with my company for 16 years so I'm hoping when I ask to work remotely they will say YES.  Would love to work from the balcony of the villa we are buying in Palmas!!

That is awesome, adlin!

Adlin if you are consulting on your own you would qualify for the act 20 since it is a service and you are exporting it. You may want to check into that. There is also a requirement that you generate I think up to 5 jobs in a given amount of time and that can be done as additional or complementary services which would make your company more rounded. The more services you provide the more diversified the company is and the lesser the risk since if one service dries off the others carry you thru.

I don't think I can qualify or want to spend time and money in finding out. Since I have property in Texas, we are using that as our "base" instead of the island. This way I only have to worry about federal taxes, all my personal and financial stuff are based out of Texas for now.

Your choice but PR corporate tax of 4% for money made by the corporation would be attractive to me. Federal on Social and 401k/IRA nothing else.

Rey, maybe me, but, Corporate Tax is just that. Tax on company business. Personal income taken from, still is taxed rather high (state et all).

Even with that said, the environment in which you live makes up for what you pay.
Balances.. Where you live, how you live and what you have to pay to do so.

PR's Corporate shelter will end. In my mind fairly soon. I see it from those that are leaving to gain from there investment, while they can.
Still I find PR very interesting to me.

I am working on how to bring my employment down there, profitably.
I'm seeing I will need to be a bit 'crafty' at it. Legal, but crafty.

It's all possible. It all has balances.

Now to re-schedule my trip and get my 'ass' down there!

olddawgsrule wrote:

Rey, maybe me, but, Corporate Tax is just that. Tax on company business. Personal income taken from, still is taxed rather high (state et all).

Even with that said, the environment in which you live makes up for what you pay.
Balances.. Where you live, how you live and what you have to pay to do so.

PR's Corporate shelter will end. In my mind fairly soon. I see it from those that are leaving to gain from there investment, while they can.
Still I find PR very interesting to me.

I am working on how to bring my employment down there, profitably.
I'm seeing I will need to be a bit 'crafty' at it. Legal, but crafty.

It's all possible. It all has balances.

Now to re-schedule my trip and get my 'ass' down there!

As a PR company, the corporation pays the 4% tax only and that is after expenses / deductions. If, big if, you pocket some of the money or pay yourself a salary, you would pay personal PR taxes on that. How much you get out or get payed will determine the level of PR taxes you as an individual will pay. -- correct. But you may not want to draw any money from the corporation and instead may want to use the profit to grow it and maybe later draw from it.

Yes it will end 2026 or 2036 not sure of the date and there is a possibility of extending it but I have no details on that.

Due to the inheritance laws, people are also putting their homes and other assets as owned by a corporation, I do not understand it too well, so I will leave it there, but apparently this way you can control the funds and assets after your death.

BTW who's up for some pizza and beer?
It is Friday night after all.

I heard that when you are retired every day is a Saturday so you do not need to work the next day.

It's Saturday morning here and I never got my pizza.

Fred wrote:

It's Saturday morning here and I never got my pizza.

Long trip, I think the delivery man got hungry.

My son is called Charles, but we usually use "Charlie".
Charlie is a chocolate factory but in two and a half years I haven't removed a chocolate filled nappy - until today.

The smell was most interesting in a mother of all poops sort of way.
I'm not letting my wife out with her mates again until he's toilet trained.

Fred, I would suggest you stop at the Army surplus store and buy a gas mask.

Wow Fred that was a Crappy subject to share.

Question for anyone. Can anybody explain why PR does not have any/more "Inclusive" type vacation areas. I see them all over the Caribbean, but not in PR. Why is that. PR is a beautiful and vibrant island.  I do not understand why the island does not explore this business avenue.

Don't know the answer to that, maybe because prices are higher due to more expensive labor?
Dominican Republic has several I imagine because their cost is lower.

Actually, Barbados, Grenada, Jamaica, Dominican Republic, Haiti and the Bahamas have them as well as several others. The US Virgin Islands and Puerto Rico don't. I don't understand why not?  They are a very good source of revenue.  What am I missing here?

From what I have been told, PR has the same labor laws/minimum wage requirements as the US, so it's prohibitively expensive to have all-inclusives in PR.

Hmmmmm, well I guess that could be part of it. But it is amazing to me, that PR is so beautiful and vibrant, PR also has casino's but yet there is not a "RESORT" type industry on the island.  Maybe I just don't get it!!

Well sound like a nice thing to do with your money, create an all inclusive resort.

I wish I had that kind of money. I definitely would. PR needs the jobs and revenue that it would bring.  I am just a poor old retiree, ReyP.

At El Conquistador in Fajardo, they offer somewhat of an inclusive package.  When we were living there, we subscribed to Gustazos (kind of like Groupon) and there were many discounts on these packages during the off-season.

Cool, thanks for the info trekrider520.

gls2163 wrote:

Question for anyone. Can anybody explain why PR does not have any/more "Inclusive" type vacation areas. I see them all over the Caribbean, but not in PR. Why is that. PR is a beautiful and vibrant island.  I do not understand why the island does not explore this business avenue.

One is coming...it will be a Dreams resort...planned to open in 2018!

http://caribbeanbusiness.com/dreams-pue … n-in-2018/http://www.caribjournal.com/2016/04/08/ … rto-rico/#

Thanks taryna, that is most excellent news. I like the fact that it is not going to be around San Juan. Looks like the resort customers will fly into Ponce or Mayaquez and be transported to Guanica.  Hopefully, this will help provide employment and tax revenue for that area.  Maybe PR will get some more.

Sorry but I just had to hid that advertising post about how to find jobs. Advertising is not allowed in the main forum.
Management will decide if their removal is permanent or not.

ok ReyP.  By the way, just who is management?

gls2163 wrote:

ok ReyP.  By the way, just who is management?

There are several Moderators, and there is Julien the owner.

ok, I understand

All Inclusive Resorts (AI's) were developed for island locations where there is little or no local infrastructure, and therefore everything had to be on resort.

AI's were put in places where there was few places to eat, see, or enjoy off resort or where security off resort was an issue (Jamaica).  Therefore, everything had to be included on the resort.

PR has a rich combination of culture, restaurants, attractions, ecological attractions and cities  to visit.  As a tourist destination, it is as safe as Washington D.C.  It would be silly to come to PR and hide in a hotel.  Therefore AI's never caught on here.  It is not a great surprise that and AI is being attempted on the SW corner of the island as there is relatively less infrastructure in that region.

I am not an expert and never been to an all inclusive resort, but I imagine that it would be for those people that want to be pampered and massaged, where there is no need to ever leave the resort, sort of a Vegas Hotel by the beach with entertainment, great food, a gorgeous beach and pool, Spa, shows, drinks, and everyone at your service.

Location will be a great asset for a great beach and or island and maybe a sea world like exhibit or a great place to scuba.

But I think there is much more to see and do in PR that staying in the hotel is just a waste.

OK, I understand about the culture and infrastructure , but why can't PR have both culture and a resort  ability. After doing a lot of time  in the last couple of weeks researching this topic , I have found the following:  1. The All Inclusive resorts are all over the Caribbean, Barbados has a min of 32, Dominican Republic has a min of 35, Jamaica has a min of 10, Martinique has a min of 5, Anguilla has a min of 10 , even Guadeloupe has 2.  So what I guess I am saying is with all of the jobs and revenue that these type of resorts bring to the local economy what is holding PR back? I understand that a new one is being built in Guanica, but only 1. I guess I still cannot comprehend the lack of jobs and revenue that PR seems to be losing out on.

I think it boils down to economics - with PR having to abide by the same laws as the US, it's probably not cost effective.  That's the feeling I got when talking to my friends in PR.

I guess that you are right. Ever since Section 936 was revoked, and the tax credits for companies finally ran out in 2006, the jobs and economy of PR has gone downhill. Hope something changes for the better. The island is way to beautiful and vibrant to stay stagnant.