I Moved To Puerto Rico For Tax Benefits (ACT 60) -- After 4 Years I'm Leaving... | Flipping Mastery Show
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 1 June 2025
⏱️ 22 minutes
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Summary
Today on the Wholesale Hotline Podcast (Flipping Mastery Edition), Jerry breaks down the real truth behind Act 60 after living in Puerto Rico for four years with his wife and ten kids—why it’s worth it only if you're saving $500K+ in taxes.
Show notes -- in this episode we'll cover:
- Jerry breaks down the real truth behind Act 60 after living in Puerto Rico for four years with his wife and ten kids—why it’s worth it only if you're saving $500K+ in taxes.
- Step-by-step look at Act 60’s strict requirements, including the 183-day rule, the closer connection test, and the 3-year clawback rule—plus how not following them can cost you big.
- Why living in expat-friendly communities like Palmas del Mar comes with huge lifestyle perks—but also major costs in maintenance, travel, and culture clash with the "Go Home Gringo" movement.
- Unexpected challenges most people never talk about: power outages, driving chaos, salty air damage, school options, finding reliable help, and dealing with sargassum seaweed on east coast beaches.
- Despite the downsides, Jerry shares what made it all worth it: epic beaches, sea glass hunting, iguana meat sales, lifelong friends, business growth, and family memories in a tropical paradise.
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Transcript
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| 0:00.0 | Hey, it's Jerry Norton. |
| 0:04.2 | Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.0 | We want to know how we're doing, so please leave a comment and give us a rating. |
| 0:17.8 | My name is Jerry Norton, and after living in Puerto Rico full time for four years, we're |
| 0:23.1 | finally leaving the island. |
| 0:24.8 | I'm going to break down everything I've learned, the good, the bad, and the ugly coming |
| 0:28.8 | up. |
| 0:30.4 | So I moved here to Puerto Rico with my wife and 10 kids, same mom, same dad, no twins, |
| 0:35.8 | all our kids, and we moved here four years ago, |
| 0:39.0 | and we came here for the tax benefit called Act 60. Now, because Puerto Rico is a territory of the |
| 0:46.1 | U.S., there are some IRS tax incentives that if you follow very specific rules, you can live in |
| 0:51.9 | Puerto Rico and get some really really attractive tax benefits |
| 0:55.9 | basically total of 4% income tax and zero capital gains so tremendous opportunity for taxes and |
| 1:03.8 | that's why we came we wanted to take advantage of those tax benefits but there are some rules to |
| 1:08.2 | act 60 that you must follow to qualify for the tax benefits. |
| 1:12.0 | Now, this is quite extensive. |
| 1:13.8 | I'm going to try to high level break it down for you. |
| 1:16.8 | Definitely if you're considering coming to Puerto Rico for Act 60, |
| 1:19.9 | you're going to want to make sure you really understand all of these rules. |
| 1:24.0 | Because when I came, I didn't quite understand them all fully. |
| 1:26.6 | It took me some time to get my head around |
| 1:28.9 | exactly what they all mean and how to comply, you know, all the way. So the first one is you have to |
... |
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