#1 TikTok Ads Spy Tool

A Better Way to Make TikTok Ads Dropshipping & TikTok For Business

  • Find TikTok winning products & TikTok dropshipping ads.
  • Analyze TikTok advertisers
  • Get the Latest TikTok Shop Data.
Try It Free

The TAX FREE Island For Entrepreneurs

Published on: December 4 2022 by Hayden Bowles

The TAX FREE Island For Entrepreneurs

The TAX FREE Island For Entrepreneurs

i'm someone who has spent the last five
or six years
really trying to figure out how to make
money now i didn't want to make money
just for the purpose of
making money so that i can spend it i
wanted to be able to
work on different projects and take
trips while you know starting different
things and be able to just have a little
bit more flexibility in my work schedule
that doesn't mean i wanted to just spend
a ton of money here at the gucci store
and go out here so what that actually
means is whenever i have new expenses
that pop
up or things i want to do or maybe need
to do like this situation right here i'm
gonna explain
well i always try to make sense of it i
try to validate the purchase and make
sure that it's something that makes
economical sense if it doesn't i really
try to avoid doing it so
as most you may know i'm currently
sitting in my new condo here in puerto
rico that i've had for the last five
it is a rental i've already given you
guys a house tour you can kind of check
that out i'll overlay some things here
during this video
nonetheless this place is
gorgeous it's by far the nicest and
definitely by far
the most expensive place that i've ever
lived now the area that i live in in
puerto rico is very expensive and i
really value security
in a place like this i've seen a lot of
crazy stuff happen already in a short
of time i also value having some basic
amenities like a gym in the building
that i use every single day
that's hard to find out here so there
are some basic things especially someone
who is working from home while they're
it's something where i do value having a
nice place and i'm definitely paying for
now in this video i'm gonna explain how
this is actually
zero dollars now it's not that it
doesn't cost me zero dollars to pay for
it actually works out to be less than
zero dollars i'm actually getting paid
to have this condo and i know it sounds
completely crazy it sounds ridiculous
because the rent and expenses on this
place i don't really like to dive into
too many numbers but just for reference
is about 150 000 a year so we're going
to tok about that we're going to break
this down
how it makes sense how i was able to
validate that decision
because this is not my new only home now
i have
two places that i live so that's
tiknically double the expenses and it
should be a lot more expensive
here's how that actually works out to be
completely incorrect oh and for
everybody who saw the day in the life
video that i did here i do appreciate
all the great feedback on that make sure
to drop a like on this video and i will
definitely be doing some more of those
bringing in some friends going on some
crazy adventures maybe just doing like
vlogs like every week or something like
i think that would be fun so let's jump
inside of my computer here i just want
to break this down
overlay a bunch of clips it'll be a fun
video how this is a zero
dollar place tiknically it's not the
penthouse it's a little bit of click
bait for the youtube algorithm
don't hate me nonetheless this spot is
by far the best view i've ever had now
my place in california that was on the
was absolutely phenomenal loved it but
it didn't cost
it was about a third of this price and
that was expensive at the time i was
like oh my gosh
i'm paying you know 50 60 000 a year in
rent there
it was a little bit ridiculous now this
has more to it
i also don't live alone here i have a
roommate so things are marginally better
do you touch my drum set
nope now this is the full breakdown
behind all of the numbers
money really just comes down to math so
for those who saw the videos breaking
why i'm here why puerto rico
specifically over all the other tax
that exist i'm here because i have two
online businesses
okay i've structured both of those here
i still have one company in arizona
so i was able to get both of those
approved to relocate down here
which saves me a minimum of about 30 to
35 percent of my total gross
profit in taxes so this is crazy
because on average i'm paying a minimum
of like 43
in taxes that's the lowest i've ever
paid in the states
well that is now being reduced by 30 to
35 percent
and as your income grows and when it
gets to a larger number i mean there's
people out here in this program who make
a hundred million dollars a year
you can imagine being able to keep an
extra 30 or 35 million dollars
in your pocket is ridiculous i mean it
is well worth the move now i'm not
making that much money not yet
but i save a lot of money by living here
that's the saving side of things from an
overall expenditure
and taxes have always been my biggest
expense so
there's two different places where i
have expenses
i've frequently had two homes whether it
was by choice
like when i lived in california and
arizona i had a condo there
which was about 4 800 a month and i had
a place
in arizona which was about three
thousand dollars so that totaled about
eight thousand dollars when you really
break it down
but i had two places to live between so
that was my choice
i've also had some that were not by
choice lease overlap there's a place i
really want or i need to move here
or get a bigger house when i moved into
a house and it kind of overlapped a few
months i was still paying for somewhere
that i wasn't really at
that's just kind of normal inside of you
know jumping from place to place when
you're leasing
now there's a reason for it this time a
very very good reason where it's not
additional housing cost okay my goal
here is to save
more money for the purpose not just to
have more money in the bank i don't
really care about that
my goal here is to save more money for
the purpose of being able to put more
money back into my company
and into other investments so if you're
this 30 to 35 percent you don't want to
that 30 to 35 percent in new expenses
because it's like you're doing all this
effort and spending all this time and
effort money whatever
to get this benefit and then you make it
all back up in new expenses
by having a secondary home that's why a
lot of people who consider moving to a
place like puerto rico or whether it's
panama or going to the u.s virgin
islands or dubai
well if you don't make enough money it's
just again money is math it's as simple
as this there's going to be a lot of new
expenses by doing that if you don't make
enough money
for that savings to to make a difference
you're just gonna recapture all that
savings in new expenses
and it doesn't make sense unless you
really want to go there i don't really
want to be here that much you know i
don't mind it it's absolutely gorgeous
don't get me wrong
i don't want to sound like a brick but
i'm having way more fun in the states
and i have other stuff and my other
focus is there as well with my companies
so this is just purely from the tax
incentive perspective and i love the
beach i've spent time in puerto rico
before i moved here
i really do enjoy the beach but i
wouldn't spend more than a couple months
a year at the beach
now i have to spend like six or seven
and again good problem to have but back
to the recapture
side of things if i had just recaptured
all my savings i did all of it for
so my new expense with housing
travel to get back and forth between
both of them everything that this
entails it's pretty expensive here in
puerto rico it really is
is about five percent okay so
it's really a minuscule portion of that
and now i want to break
down how it's actually more like
negative five percent it's actually gone
another ten percent below that
and this is where again money just
becomes math and now we're not toking
about tax savings
because i no longer need to be in
arizona as much or anywhere in the
i'm not there more than two to three
months a year which means
i don't need six cars that as a weighted
average over the last 12 months
cost me about 4 500 a month just in
insurance and upkeep i buy the cars in
also i don't need a 6200 square foot
dream home of mine that you guys saw me
buy like a year ago
that has 8 500 a month in overhead again
i love it but there's no need simple as
that i also
don't need any more external travel than
is really necessary
right because i live at the beach and
this has two out of the three
environments that i like
i still have a place in arizona i still
have my place here in puerto rico
so that has two out of the three
environments that i really enjoy
love arizona also need to be there for
work reasons i love the beach that's why
i was always in california lived there
for a while had a second place there
i would always travel oh you know let's
go to hawaii for a week right now if you
invited me to hawaii i would say no
because i'd rather just be here it would
be cheaper because i already have my
place here
and stuff like that so the beach
environment knocked out arizona knocked
out the only thing left for me that i
from an environment perspective would be
a place up in the mountains to go
snowboard and have a
you know a third home there during the
season but that's not really necessary
it will definitely come
in the near future okay since i was able
to get rid of these and
we'll have a car update video i know a
lot of people are asking when i made a
video tok about selling everything i
i have not sold all the vehicles yet
some have sold it's definitely going to
be interesting i will do an update when
i get back to arizona but it's been
costing me 4 500 a month
just and i'm not toking about car
payments just insurance
just upkeep yo this one needs this okay
tires over here
brakes like like on average over a
12-month window
and that doesn't include any upgrades or
i want to do this or that which is
you know you guys have seen that happen
it's it's just one of those things where
now that expense is gone and that's
great because you know it's slowly gonna
dwindle away
so i'm actually gonna save money now it
would be easy for me to keep that stuff
but it doesn't make sense to me right i
don't want my cost of living to go up
just because i
made a business decision that caused me
to live somewhere else i don't feel like
it's necessary
so i have a personal overhead just being
transparent here about 15 000
a month that's roughly my budget i'm
very comfortable with that it has been
that much for years
i don't see that needing to change if
there's some crazy reason or something
that happens where i see hey this needs
to increase because of this
then that's fine i can adjust it as such
but that's the budget i usually fall
underneath that now if you keep in mind
a third of that has just been vehicle
upkeep you know
maintaining the vehicles and insuring
the vehicles so
as those disappear which i value that
i'm more than fine paying that amount of
money because i love
cars that's a hobby and a passion of
mine if you do that average it's 150
a day i'll pay 150 a day any day of the
week just like i was
to have all these options and all these
amazing cars that i truly love
right and some of those cars have made
me money they go up in value so
it's been really interesting and i enjoy
that but that is factoring in the
expenses from living here okay so this
is a big change it changes how i
structure my companies as well as my
it will actually reduce my living costs
which is really cool i'll do an updated
video a few months into it once i
actually get rid of everything
and kind of structure it properly
it's crazy how it reduces it even though
i'm adding a second place that's
expensive at least tiktok thinks it's
expensive i showed this place on my tik
tok you guys can follow me over there
and everybody's freaking out how much is
it how much is how much is it i really
tried to avoid answering that for a few
months but
nonetheless everybody was asking so i
i'm always transparent and i showed that
and everybody's like ah cap dude not
you're lying airbnb
that's fake blah blah blah and i was
like yo this is the place i'm renting
came with all the furniture and what
anyways that's tiktok for you but it
was hilarious and i know that this place
i mean if you just look at it
systematikal average yes it's expensive
but expensive based on what terms
i mean i know someone who pays 130 000 a
month for rent for just one house
so it kind of goes both ways you just
people usually operate with limited
information to me the 130 000
a month house that sounds bananas but
when i try to put it in perspective
with what this guy's net worth is how
130 000
a month is nothing and how much he makes
it doesn't matter systematikally it's
actually a less percentage just like
is way less of a percentage than most
people's rent
because they just make less money so to
me it's crazy when someone pays 900
a month in rent and they only make three
thousand because it doesn't leave a lot
of room for additional things
emergencies investments
so you just gotta again keep in mind
there's always more to the story so
my goal this video is just to be
transparent share this process
share my mindset again i see no need to
inflate things
i've always been really logical with
money decisions so that's how i break
this one down
and it's really cool that i'm able to do
that and i just always think that
it's it's such a blessing to be able to
have a little bit more flexibility and a
little bit more options because that's
something i was working towards for many
many years just to make that happen so
super excited to reduce the main
expenses with the place that i'm not
really at very much anymore and just
make up the difference and actually
still be saving money just on a living
expense perspective not even from taxes
because my goal is to have all the tax
money go back into the company i'm now
able to hire people in puerto rico
who are very very grateful more grateful
trust me more grateful than people in
the states
for an amazing job that pays them more
than they can get out here minimum wage
here is terrible
so they do really good work i'm able to
hire people here give them great
able to just take care of the economy
they go then invest back into the
economy spending money having fun i'll
be buying real estate out here
i'm out here spending money having fun
boosting the economy so it's it's just
one of those things where it's a great
circle and i really like it it also
helps with the business margin
and again that money so that's going to
go back into the business some of it's
going to go back into investments back
in the states
so you know further progressing the
economy as well so
super excited for it i hope this video
was a little bit interesting in some way
i just wanted to break down how this
place is zero dollars and it's crazy i
to have over 3000 square feet in the sky
it's three bedrooms there's you know an
elevator that opens up into it i've
never had that
it's absolutely ridiculous thankfully it
came furnished because my interior
designing skills are less than zero
so yeah otherwise it would just be empty
like all my other places which i'm
totally fine with i'm kind of a
minimalist in that
sense i don't like i don't use 80 of the
stuff in here and there's not a lot but
anyways so i hope you enjoyed this video
make sure to drop a quick like down
if you're interested in e-commerce at
all which by the way is the two
companies that's the reason i'm down
e-commerce is what i guess gave me the
option but i feel like it's not really
an option to move down to
here like yo you have to move if you're
saving that much money so
because of the e-commerce companies it
makes a lot of sense a little bit of a
hassle to get everything down here but
super worth it so if you want to learn
more about e-commerce and how you can
start that or scale that if you're
already doing it
make sure to check out our resources
linked in the description i also have an
entire advertising company based out of
where we run facebook ads people we run
google ads we build websites we have a
team of 19 people currently
most of those are media buyers handling
advertising for all of our clients large
and small
if you want to learn more about that you
can book a free call with the top link
in the description
all right hope you enjoyed this video
you can check out the house tour video
as well it's on the channel but make
sure to drop like
subscribe and i'll see you in the next
video peace

Scan code to add assistant

Receive free VIP experience members

Each account can be free of charge once