Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Off Topic
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 10 years ago on . Most recent reply

User Stats

3,531
Posts
2,654
Votes
David Krulac#5 General Real Estate Investing Contributor
  • Mechanicsburg, PA
2,654
Votes |
3,531
Posts

No Income Tax, No Real Estate Tax, No Capital Gains Tax & No Inheritance Tax

David Krulac#5 General Real Estate Investing Contributor
  • Mechanicsburg, PA
Posted

Does a place like that exist outside of a real estate investors fantasy or a CPA's nightmare? Imagine what your cash flow would be without income & real estate taxes!

YES!

Turks & Caicos, and island chain 35 miles south of Bahamas and 500 miles East of Miami doesn't have any of the aforementioned four taxes. They do have sales tax on all items including groceries, as well as taxes on rental cars, hotels, gasoline and a $40 departure tax to leave the country. Gasoline prices are around $5.85 USD per gallon. Notice how many of the taxes are geared to tourists? And notice how the taxes are point of sale taxes, so that you don't have to fill tax forms. Everybody speaks English and the official currency is the US Dollar, so there is no exchange rate. It is part of the British empire and not an independent country; the governor is appointed by the Queen of England.

Most Popular Reply

User Stats

866
Posts
487
Votes
Duncan Taylor
  • Real Estate Investor
487
Votes |
866
Posts
Duncan Taylor
  • Real Estate Investor
Replied

As a US citizen you are subject to Federal Income Tax on earnings no matter where they are earned.

Interestingly enough, all of the benefits you mention above are available in this country if you use the services of a good estate and tax planning attorney.

Loading replies...