Get IRS 1040-PR 2012

The Commonwealth government has its own tax laws and Puerto Ricans are also required to pay some US federal taxes, although most residents do not have to pay the federal personal income tax. ... Residents also pay federal payroll taxes, such as Social Security and Medicare taxes.

Unlike the US, Puerto Rico does not tax social security pension income or unemployment. Puerto Rico residents must still pay the US FICA tax on self-employment income.

Yes, Puerto Ricans do pay some federal income taxes in addition to the local income tax they pay in Puerto Rico. They pay the federal tax that funds Social Security and Medicare (the Federal Insurance Contributions Act (FICA) tax).

The federal taxes paid by Puerto Rico residents include import/export taxes, federal commodity taxes, and others. Residents also pay federal payroll taxes, such as Social Security and Medicare taxes. Only certain residents of Puerto Rico are required to file federal income tax forms.

In Puerto Rico real property is subject on an annual real property tax. ... Under Act 216 a 5-year 100% real property tax exemption would be available for residential property acquired on or before August 31, 2015.

Puerto Rico is a US territory and not a state, so its residents don't pay federal income tax unless they work for the US government. Even so, workers there pay the majority of federal taxes that Americans on the mainland pay payroll taxes, social security taxes, business taxes, gift taxes, estate taxes and so on.

U.S. citizens who have lived all year on the island are exempt from filing taxes to the federal government of the United States as long as all of your income was from Puerto Rican sources only.

For the 2019 tax year, single filers with a combined income of $25,000 to $34,000 must pay income taxes on up to 50% of their Social Security benefits. ... For married couples filing jointly, you will pay taxes on up to 50% of your Social Security income if you have a combined income of $32,000 to $44,000.

For the 2019 tax year, single filers with a combined income of $25,000 to $34,000 must pay income taxes on up to 50% of their Social Security benefits. If your combined income was more than $34,000, you will pay taxes on up to 85% of your Social Security benefits. ... Your total annual benefits would be $16,920.

If income is between $25,000 and $34,000, up to 50 percent of your benefits may be subject to tax. For income of more than $34,000, up to 85 percent of your benefits may be considered taxable income. If you and your spouse file a joint return with a combined income below $32,000, your benefits are out of reach.

At 65 to 67, depending on the year of your birth, you are at full retirement age and can get full Social Security retirement benefits tax-free. However, if you're still working, part of your benefits might be subject to taxation. The IRS adds the figures for your earnings and half your Social Security benefits.

Stay below the taxable thresholds. Manage your other retirement income sources. Consider taking IRA withdrawals before signing up for Social Security. Save in a Roth IRA. Factor in state taxes. Set up Social Security tax withholding.

In Puerto Rico real property is subject on an annual real property tax.

Real property is subject on an annual real property tax levied on the property´s market value. The tax rates range from 9.83% for personal property.

Still, Puerto Rico hopes to lure American mainlanders with an income tax of only 4%. Legally avoiding the 37% federal rate and the 13.3% California (or other state) rate sounds pretty good. What's more, there is no tax on dividends, and no capital gain tax in Puerto Rico. However, some big cautions are in order.