“Moved out of Los Angeles to train in a secluded area in Puerto Rico… less distractions”
JP
Jake Paul
All-In with Chamath, Jason, Sacks & Friedberg ·
Entrepreneurs on Fire · Do What the Ultra-Wealthy Do to Build Wealth and Protect Your Family with Joseph Francis Lombardi
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moved personal residence to Puerto Rico to qualify for the island’s 0% income tax regime
previously paying seven figures a year in California taxes; now 0% tax
“Moved out of Los Angeles to train in a secluded area in Puerto Rico… less distractions”
“The will can establish a trust, a testamentary trust, and it holds those assets for that beneficiary... income from assets... can qualify as accepted income for minors, taxed at normal adult rates”
“Move the same holdings into a traditional IRA or 401k… that income compounds tax-deferred”
“If your income's over $250,000, contributions to super are taxed at 30%… means less of a tax saving”
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