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Hedge Funds Facing Biden Tax Threat Grab Toehold in Puerto Rico

May 11 2021, 9:31 AM
May 10 2021, 6:03 PM
May 11 2021, 9:31 AM
(Bloomberg) With Democrats pushing for higher taxes on the richest Americans to fund President Joe Bidenâs infrastructure and climate initiatives, hedge fund managers are taking refuge in Puerto Rico.
(Bloomberg) With Democrats pushing for higher taxes on the richest Americans to fund President Joe Bidenâs infrastructure and climate initiatives, hedge fund managers are taking refuge in Puerto Rico.
ExodusPoint Capital Management and Millennium Management have established subsidiaries on the island, according to local records. That could help portfolio managers at the firms relocate to Puerto Rico to obtain huge tax breaks an increasingly popular option now that the pandemic has made working remotely mainstream. ....

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5 Tax Mistakes Made by Rich People

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