I am full of appreciation!

Rick Walter, CPA
Latest posts by Rick Walter, CPA (see all)

My beautiful wife and I just celebrated 25 years of marriage by flying to the Bahamas. We had such a great time and I talked with all the natives: Cab drivers, dealers (card dealers people – settle down); bartenders, etc. They really enjoy their little piece of heaven.

I do apologize if The Bahamas is a lousy place to live for the Bahamians but they didn?t indicate that to me and I am not offering a human rights platform here.

There is literally no taxes to pay in that country. No sales tax; No income tax; No corporate or individual; And no sneaky capital gains tax.

Add to all this, beaches that are unbelievable and weather that is balmy – and a little unpredictable. Seems to me it might not be the best idea to have a tax practice in downtown Nassau since no one is actually paying taxes.

What could work for me is if enough of you move to The Bahamas; then a satellite office is not unreasonable and I can handle your needs personally.

OK – this is all a little silly. However, I can?t help but admire a country that has no significant tax structure – has citizens who don?t seem unhappy. A government that only allows Bahamians to work in all job sectors (unless you really bring something to the table like Brain Surgeon), and an economy of fruits, vegetables and tourism.

Do you think I had a good time? So here are a couple of tax tidbits that you might be looking for:

Obama Care Penalties Delayed to 2015.

Foreign Bank Acct Reporting has to be Electronic next year.

Rick Walter applies for Dual Citizenship on the 4th of July.

Thanks for listening and I will talk at you again.

Author: Rick Walter, CPA

Rick Walter brings over 25 years of professional tax and accounting experience to Hutchinson & Walter. Specializing in small to mid-size business entities and start up organizations, Rick brings a deep understanding of the unique tax compliance and accounting issues specific to those entities.

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