![The Puerto Rican Tax Parade The Puerto Rican Tax Parade](https://eu-images.contentstack.com/v3/assets/bltabaa95ef14172c61/bltd76b180f0cd60119/6734789ba8d9f124629bb679/akhavan-puerto-rico-promo.jpg?width=1280&auto=webp&quality=95&format=jpg&disable=upscale)
In a famous Seinfeld episode, the gang gets stuck in the Puerto Rican Day Parade in New York City, and hilarity ensues. Yet, Puerto Rico is no laughing matter. Moving to Puerto Rico provides a compelling alternative to expatriation. Here’s why.
More Americans Expatriating
The number of Americans renouncing their U.S. citizenship increased 37 percent in the three months ending December 2014. The annual total of U.S. citizens expatriating reached a record level of 3,415.1 While a significant part of this drive to renounce citizenship is due to Foreign Account Tax Compliance Act (FATCA) reporting requirements and severe Report of Foreign Bank and Financial Accounts (FBAR) penalties, the higher ordinary income and capital gains tax rates ena...
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