Many high net worth individuals are increasingly flocking to states like Florida or Nevada due to their lack of a state income tax. However, under the provisions of IRC Sec. 933, a move to a U.S. territory, like Puerto Rico, may offer even more lucrative tax incentives than a zero income tax state. ...
high net worth individuals
It is important for older individuals and retirees to be mindful of potential tax advantages that can help optimize their financial situations. There are various tax strategies that retirees can take advantage of. One common tax strategy is the Qualified Charitable Distribution (QCD).
Nonfungible Tokens (NFTs) have gained immense popularity in recent years as unique digital assets that can be used to certify ownership and authenticity of associated rights or assets. However, the tax treatment of NFTs remains uncertain, which has raised concerns for taxpayers, tax professionals, ...