![]() ![]() You can, however, claim dependent deductions on your Federal Tax Return. Unlike most states, Puerto Rico does not have a dependent deduction. The Federal Income Tax, however, does allow a personal exemption to be deducted from your gross income if you are responsible for supporting yourself financially. Keep in mind that not all deductions allowed on your federal income tax return are necessarily going to be allowed on your Puerto Rico income tax return. Certain itemized deductions (including property tax, qualified charitable contributions, etc) may be allowed depending on the income level and filing type of the taxpayer. Unlike many other states, Puerto Rico has no standard deduction. For details on specific deductions available in Puerto Rico, see the list of Puerto Rico income tax deductions. Using deductions is an excellent way to reduce your Puerto Rico income tax and maximize your refund, so be sure to research deductions that you mey be able to claim on your Federal and Puerto Rico tax returns. Income tax deductions are expenses that can be deducted from your gross pre-tax income. Ĭompare the state income tax rates in Puerto Rico with the income tax rates in The IRS will start accepting eFiled tax returns in January 2020 - you can start your online tax return today for free with TurboTax. There are -1372 days left until Tax Day, on April 16th 2020. Residents of Puerto Rico who are employed by the government of the United States or who are members of the armed forces of the United States also should report all income received for their services to the government of the United States on their U.S. However, they should report all income received from sources outside Puerto Rico on their U.S. Bona fide residents of Puerto Rico generally do not report income received from sources within Puerto Rico on their U.S. federal income tax return if they have income sources outside of Puerto Rico or if they are employees of the U.S. In general, United States citizens and resident aliens who are bona fide residents of Puerto Rico during the entire tax year, which for most individuals is January 1 to December 31, are only required to file a U.S. You can learn more about how the Puerto Rico income tax compares to other states' income taxes by visiting our map of income taxes by state. Notably, Puerto Rico has the highest maximum marginal tax bracket in the United States. Unlike the Federal Income Tax, Puerto Rico's state income tax does not provide couples filing jointly with expanded income tax brackets. ![]() Puerto Rico collects a state income tax at a maximum marginal tax rate of %, spread across tax brackets.
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