Make the Most From Your Taxes With Expert Planning
Optimize Savings. Build Wealth.
Identify and take full advantage of available deductions and credits, executing a plan that delivers value.
Understand how crucial accounts are taxed and structure them in a way that maximizes tax returns.
Remaining aligned with local and federal laws ensures filings and strategies are legally sound.
Ensuring our plans are not just for today but are lasting enough to help you avoid unexpected bills down the line.
OUR APPROACH
Maximize Your Savings With Our Diverse Tax Plans
Explore income tax planning in Puerto Rico, designed to help individuals, professionals, and business owners reduce unnecessary tax exposure while remaining compliant with Puerto Rico and applicable US regulations. Rather than focusing only on filing or short-term deductions, JLA approaches this as a forward-looking strategy that supports long-term financial stability.
At JLA, we do not treat taxes as a standalone issue addressed once a year. Instead, they are analyzed in the context of the client’s full financial picture that includes your IFinancial Planning, and Retirement Planning delivering a comprehensive report. This includes reviewing income sources, employment status, investment income, and much more. Thus, our tax planning services are about keeping more of what you earn working for you in the long run by making informed, coordinated decisions that fit your life in Puerto Rico.
Guide to Strategic Tax Planning Services for Better Savings
STEP-1
Income Tax Preparation
Preparing you and various businesses in organizing and filing their tax returns to ensure compliance with tax laws and regulations while maximizing deductions and credits.
STEP-2
Retirement Tax Planning
We help retirees in Puerto Rico structure their retirement contributions and withdrawals to improve tax efficiency today and manage future tax exposure after having retired.
STEP-3
Business Tax Strategy Planning
We advise business professionals and owners on tax-efficient structures, compensation strategies, and planning decisions that support both business growth and personal financial goals.
STEP-4
General Ledger Review
We conduct a comprehensive analysis of financial records to ensure integrity, compliance, and accuracy, identifying discrepancies and optimizing the financial reporting process for better decision-making.
WHAT WE DO
We Bring You the Right Solutions, All in One Place
No matter where you are in your financial or business journey, clarity matters. At JLA Financial Planning, we provide a wide range of integrated solutions designed to support individuals, families, and businesses through every stage of decision-making. Our approach is personalized, strategic, and comprehensive; bringing together planning, protection, and guidance so every part of your financial picture works together with purpose.
Our Tax Consultation is Always in Sync with your Financial Strategy
Our tax planning approach aligns with your income, investments, and long-term goals, helping you reduce unnecessary tax exposure while supporting smarter decisions over time.
MEET OUR TEAM
Our Associates
Juan Luis Aquino
MBA, CCFP, CPFC, FRC
Especialista en Planificación Financiera y Contributiva
Amarilis Alicea
CCPF, CPFC
Analista de Riesgos Especiales
Magdalis Martinez
CCFP, CPFC
Representante Autorizado
Frequently Asked Questions
Puerto Rico’s tax system is unique, and understanding how it works is essential for anyone living, working, or doing business on the island. Unlike U.S. states, Puerto Rico operates under its own local tax code, which creates both opportunities and complexities that require careful navigation. From JLA’s perspective, the biggest challenge most people face is not the tax rates themselves, but confusion about how Puerto Rico tax rules differ from mainland assumptions.
For most Puerto Rico residents, earned income is subject to Puerto Rico income tax rather than U.S. federal income tax. This distinction alone changes how financial decisions should be made. While residents are generally exempt from U.S. federal income tax on Puerto Rico; sourced income, they are still subject to Social Security and Medicare taxes, and certain types of income may still trigger U.S. reporting obligations. Without proper guidance, it is easy to misunderstand which rules apply and when.
Puerto Rico’s income tax structure is progressive, with rates that can feel significant as income rises. Professionals, executives, and business owners often experience higher marginal tax exposure than expected, especially when income increases or fluctuates year to year. This makes forward-looking planning essential, rather than simply reacting to taxes at filing time.
Another important aspect of the tax system is how retirement income is treated. Pensions, retirement accounts, and investment income may be taxed differently depending on the source and timing of distributions. Many people contribute to retirement accounts without fully understanding how withdrawals will be taxed later, which can lead to surprises in retirement if planning is not done properly.
Business owners face additional complexity. Income structure, compensation methods, and retirement plan design all influence tax outcomes. Puerto Rico businesses may operate as sole proprietorships, partnerships, or corporations, each with different tax implications. Choosing the right structure—and adjusting it as the business grows; can have a meaningful impact on long-term efficiency.
This is where working with a knowledgeable tax planning advisor becomes especially important. At JLA, tax planning is not treated as a once-a-year exercise or a separate service. It is integrated into the broader financial planning process. We focus on how income is earned, how savings and investments are structured, and how future goals—such as retirement or business succession—will be affected by taxes over time.
Another key feature of Puerto Rico’s tax system is the need for coordination. Many residents have financial ties to both Puerto Rico and the mainland United States. This can include federal benefits, retirement accounts, or investments held outside the island. Planning must account for how these pieces interact to avoid unnecessary tax exposure or compliance issues.
From JLA’s perspective, the most effective approach to Puerto Rico’s tax system is clarity and structure. We help clients understand what applies to them, what does not, and how today’s decisions shape tomorrow’s outcomes. Rather than chasing aggressive strategies, our focus is on compliance, efficiency, and long-term stability.
Simply put, Puerto Rico’s tax system offers both challenges and planning opportunities. With informed guidance and proactive decision-making, individuals and business owners can reduce uncertainty, improve efficiency, and keep more of what they earn, working toward their long-term goals.
A tax advisor plays a central role in helping individuals, families, and business owners navigate complex financial decisions with clarity and confidence. While many people associate tax advisors primarily with filing returns or resolving compliance issues, their true value lies in planning. Effective tax planning focuses on making informed decisions today that reduce unnecessary tax exposure over time, while staying fully compliant with applicable laws and regulations.
At its core, the role of a tax advisor is to provide structure. Income, investments, retirement accounts, and business activities all generate tax consequences, yet these elements are often managed separately. A tax advisor brings them together, helping clients understand how each financial decision affects their overall tax picture. This coordinated approach allows for smarter decision-making rather than reactive responses once taxes are due.
One of the most important responsibilities of a tax advisor is education. Tax rules are constantly evolving, and most individuals do not have the time or expertise to track every change. A knowledgeable advisor explains how current laws apply to a client’s specific situation in clear, practical terms. This empowers clients to make confident choices instead of relying on assumptions or outdated information.
Strategic timing is another key aspect of the advisor’s role. When income is received, when deductions are claimed, and when retirement distributions begin can all significantly influence tax outcomes. A tax advisor helps clients anticipate these timing decisions and understand their long-term impact. This is especially valuable for professionals with fluctuating income or individuals approaching retirement, where timing mistakes can be costly.
Midway through the planning relationship, tax planning in Puerto Rico becomes particularly important because the island’s tax system operates differently from mainland norms. Local income tax rules, retirement income treatment, and business structures require a specialized understanding that goes beyond general tax knowledge. A tax advisor familiar with Puerto Rico helps ensure that strategies are appropriate for local regulations and not based on assumptions that may not apply.
For business owners and self-employed individuals, the advisor’s role expands even further. Income structure, compensation methods, and retirement plan design all influence tax exposure. A tax advisor evaluates how business decisions affect personal finances and vice versa, helping create alignment between business growth and personal financial goals. This often includes coordinating with other professionals to ensure strategies are compliant and sustainable.
Risk management also plays a role in tax planning. Aggressive or poorly understood strategies can create future liabilities or compliance issues. A responsible tax advisor focuses on prudent planning that balances efficiency with long-term stability. This means helping clients understand not only the potential benefits of a strategy, but also the trade-offs and limitations.
Another critical function is ongoing review. Tax planning is not a one-time exercise. Life events such as career changes, marriage, business expansion, or retirement require adjustments. A tax advisor monitors these changes and updates strategies accordingly, helping clients stay aligned with their goals as circumstances evolve.
Ultimately, the role of a tax advisor is about partnership. Rather than simply reacting to tax bills, clients gain a trusted professional who helps them think ahead, ask better questions, and make decisions with purpose. Through education, coordination, and forward-looking guidance, a tax advisor helps transform taxes from a source of stress into a manageable part of a well-structured financial plan.
Finding reliable tax planning support in Puerto Rico starts with understanding what you actually need and who is qualified to provide it. While many people search online and stop at proximity, effective tax planning requires more than convenience. It requires local expertise, ongoing guidance, and a clear understanding of Puerto Rico’s tax system.
The first step is to clarify your situation. Tax planning needs vary depending on whether you are a salaried professional, federal or government employee, self-employed individual, or business owner. Income structure, retirement accounts, investments, and family responsibilities all influence what kind of planning is appropriate. Knowing this helps narrow your search to advisors who work regularly with clients similar to you.
When searching online, using location-based terms can help identify firms that actively serve your area. Focus on advisors who explicitly mention Puerto Rico tax rules, not just general U.S. tax planning. Many mainland firms appear in search results but may not fully understand how Puerto Rico’s tax code differs from federal assumptions.
Credentials and scope of service matter. Look for professionals who offer tax planning, not just tax preparation. Filing a return looks backward; planning looks forward. A strong tax planning advisor should discuss income strategy, retirement contributions, timing decisions, and how taxes interact with your broader financial plan. If the service description focuses only on compliance or annual filing, it may not meet long-term planning needs.
Local presence is also important. Advisors based in Puerto Rico are more familiar with local regulations, economic conditions, and common planning challenges faced by residents. They are also more accessible for ongoing conversations, reviews, and adjustments. Tax planning is not a one-time event; it evolves as income, laws, and life circumstances change.
Referrals can be valuable. Asking other professionals, business owners, or colleagues who live and work in Puerto Rico can help identify advisors with strong reputations. People are more likely to recommend professionals who communicate clearly, explain strategies well, and provide consistent follow-up.
It’s also important to evaluate how an advisor works. A quality tax planning relationship should begin with questions, not pitches. The advisor should seek to understand your goals, concerns, and financial structure before offering recommendations. Transparency, education, and a willingness to explain trade-offs are signs of a professional approach.
Finally, consider how tax planning fits into your broader financial picture. The most effective tax strategies are integrated with retirement planning, investment decisions, and risk management. Working with a firm like JLA Financial Planning allows taxes to be addressed as part of a coordinated strategy rather than in isolation.
Simply said, finding tax planning near you in Puerto Rico means looking beyond location alone. By prioritizing local expertise, forward-looking planning, and a collaborative approach, you can find guidance that not only helps manage taxes today but supports smarter financial decisions over the long term.
Many people think of taxes as something handled once a year, usually when filing a return. From JLA’s perspective, that mindset is one of the biggest reasons individuals and business owners miss opportunities to build long-term stability. Income tax planning is not a seasonal task; it is a strategic component of every meaningful financial decision made over time.
At its core, planning your taxes is about foresight. It evaluates how today’s income, savings, investments, and retirement decisions will be taxed not just now, but years or decades into the future. Without this forward-looking view, even well-intentioned financial decisions can quietly erode wealth through unnecessary tax exposure.
A long-term strategy begins with understanding how income flows. Salary, bonuses, self-employment income, investment earnings, and retirement contributions all carry different tax implications. When these elements are managed independently, inefficiencies often appear. JLA’s approach brings these pieces together so that tax consequences are evaluated alongside broader financial goals.
Midway through this process, tax planning becomes a coordinating force rather than a separate consideration. Decisions about retirement contributions, investment allocation, or business compensation are evaluated through a tax-aware lens, helping ensure that strategies work together instead of competing with one another.
Timing is another critical factor. When income is recognized, when deductions are used, and when retirement distributions begin all influence long-term outcomes. Thoughtful planning helps clients anticipate future tax brackets and avoid decisions that feel beneficial today but create challenges later.
Over time, this integrated approach reduces uncertainty. Clients gain clarity about how their financial decisions affect their net outcomes, allowing them to move forward with confidence. Instead of reacting to tax bills, they make informed choices that support sustainable growth and stability.
Many people rely on tax filing services to meet compliance requirements, but filing alone does not address long-term efficiency. Knowing when to seek professional planning begins with understanding the difference between reacting and preparing.
Tax filing looks backward. It reports what already happened. Tax planning looks forward. It evaluates how decisions made today affect future tax exposure. If your income is increasing, your financial life is becoming more complex, or you are thinking about retirement, filing alone is rarely sufficient.
Professionals, business owners, and families with multiple income sources often face hidden inefficiencies. These may include underutilized retirement strategies, poorly timed income, or investments that are tax-inefficient. Without planning, these issues compound quietly over time. Midway through the decision process, many clients realize that tax planning near me is not about convenience; it is about relevance. Working with a local professional who understands Puerto Rico’s tax structure, employment patterns, and economic realities allows for strategies that actually fit real-life conditions.
A planning relationship also provides continuity. Taxes are affected by life changes such as career transitions, marriage, business growth, or retirement. Having ongoing guidance ensures strategies evolve rather than becoming outdated.
If taxes feel unpredictable, stressful, or disconnected from your broader financial goals, it is usually a sign that planning, not just filing, is needed.
Income growth is a positive milestone, but without structure, it can create new challenges. Higher income often leads to higher tax exposure, and many professionals are surprised by how much of their additional earnings are lost to taxes without planning.
Income tax planning focuses on how income is earned, structured, and timed. Rather than viewing income as a single number, JLA evaluates its sources and characteristics. Salary, bonuses, commissions, self-employment income, and distributions are all treated differently for tax purposes.
Midway through this evaluation, income tax planning becomes a decision-making tool. It helps clients understand trade-offs between current income, long-term savings, and tax efficiency. For example, increasing retirement contributions may reduce current taxes while strengthening future stability.
Business owners benefit even more from this approach. Compensation methods, business expenses, and retirement plan design all influence taxable income. Planning allows business growth to be aligned with personal financial goals rather than working against them.
Over time, income tax planning reduces volatility and improves predictability. Clients gain clarity about what they keep, not just what they earn, allowing them to plan with confidence.
A tax planning relationship is built on continuity, not one-time transactions. At JLA, the role of a tax planning advisor extends far beyond preparing returns or answering isolated questions.
The relationship begins with understanding. Income sources, financial goals, retirement plans, and existing strategies are reviewed together. This creates a baseline from which meaningful planning can occur. Midway through the engagement, the tax planning advisor becomes a strategic partner. Decisions about savings, investments, business structure, and retirement timing are evaluated through a tax-aware lens, helping clients avoid costly missteps.
Ongoing reviews are central to the process. Changes in income, family circumstances, or regulations require adjustments. Rather than reacting to surprises, planning allows clients to stay ahead of them. The result is confidence. Clients know their decisions are informed, coordinated, and aligned with long-term goals.
Puerto Rico’s tax environment is fundamentally different from that of the mainland United States, and those differences have a meaningful impact on how individuals and businesses should plan. While Puerto Rico is a U.S. territory, it operates under its own local tax code, which creates a unique blend of rules that do not align neatly with state-level tax systems. This is why strategies that are commonly recommended in U.S. states may not only be ineffective for Puerto Rico residents, but in some cases, counterproductive.
One of the most significant distinctions lies in income taxation. Most residents of Puerto Rico are subject to Puerto Rico income tax on income earned on the island rather than U.S. federal income tax. However, this does not mean that federal considerations disappear entirely. Payroll taxes such as Social Security and Medicare still apply, and certain types of income, such as income sourced outside Puerto Rico, may carry different reporting or tax obligations. Without careful coordination, these overlapping rules can easily create confusion.
Retirement planning is another area where mainland assumptions often fall short. Many retirement strategies are designed around U.S. federal tax treatment of withdrawals, contributions, and required distributions. In Puerto Rico, retirement income may be taxed differently depending on the source, the type of account, and the timing of distributions. Individuals who follow generic advice without adapting it to local rules may be surprised by their tax exposure later in life.
Business owners face even greater complexity. Puerto Rico businesses can operate under various structures, each with its own tax implications. Compensation strategies, profit distribution, and retirement plan design all affect both personal and business tax outcomes. Strategies that are effective for businesses operating in U.S. states may not translate cleanly under Puerto Rico law, especially when local incentives, deductions, or limitations are involved.
Midway through any comprehensive planning discussion, tax planning in Puerto Rico becomes essential because relying on mainland frameworks can lead to inefficiencies or unintended compliance risks. Applying the wrong assumptions can result in higher-than-necessary taxes, missed planning opportunities, or strategies that look effective on paper but do not hold up under local regulations. This is where localized expertise becomes critical.
Another key difference is coordination. Many Puerto Rico residents maintain financial connections to the mainland through federal benefits, retirement accounts, investments, or prior employment. These cross-jurisdictional ties require careful planning to ensure that decisions made in one area do not create negative consequences in another. Effective planning must account for how Puerto Rico tax rules interact with U.S.-based assets and obligations. At JLA, tax planning is approached with this full context in mind. Rather than applying generic models, strategies are built around local law, employment structures, and the real-life financial situations of Puerto Rico residents. The goal is not to pursue aggressive tactics, but to create clarity, efficiency, and long-term sustainability.
Ultimately, tax planning in Puerto Rico is different because the system itself is different. Successful planning requires understanding not just the rules, but how they apply in practice over time. By working within the local framework and anticipating how decisions today affect outcomes tomorrow, individuals and business owners can avoid unnecessary surprises and build strategies that truly support their long-term financial goals.
Retirement readiness is not determined solely by how much someone saves over their working years. It is determined by how much income they can reliably use after taxes once retirement begins. Many individuals in Puerto Rico are diligent savers, contributing consistently to retirement accounts and building assets, yet they underestimate how taxes will affect those savings when they eventually turn into income. This disconnect is one of the most common reasons retirees feel uncertainty, even when their account balances appear healthy.
At JLA, we view retirement planning and tax planning as inseparable. Every dollar saved for retirement carries a future tax implication, and without proper coordination, those implications can significantly reduce usable income. Effective planning begins with understanding how different sources of retirement income will be treated once withdrawals start. Pensions, Social Security, retirement accounts, and investment income all follow different tax rules, and the combination of these sources determines overall retirement efficiency.
Timing plays a critical role. When retirement income begins, which accounts are accessed first, and how distributions are structured can all influence tax exposure over time. Without planning, individuals may unintentionally push themselves into higher tax brackets or trigger taxes earlier than necessary. A thoughtful approach allows income to be drawn in a way that supports stability rather than creating volatility.
Midway through retirement preparation, Income tax planning in Puerto Rico becomes especially important because local tax treatment differs from mainland assumptions. Strategies commonly discussed in U.S.-based retirement planning often fail to account for Puerto Rico’s tax framework. Retirement income that might be taxed favorably elsewhere may be treated differently on the island, depending on its source and structure. Without localized planning, retirees may be surprised by how much of their income is lost to taxes.
Another key factor is predictability. Retirement is a transition from earning income to relying on accumulated resources. Knowing how much income can be used after taxes provides peace of mind and allows for more confident lifestyle decisions. Tax-aware planning helps establish realistic income expectations, ensuring retirees understand what their savings can truly support.
For professionals and business owners, income tax planning also helps align retirement contributions during working years with future withdrawal strategies. The way contributions are made today directly affects flexibility later. Planning helps ensure that savings vehicles are chosen and funded with an eye toward long-term efficiency, not just short-term tax benefits.
Healthcare costs and longevity further emphasize the importance of tax-aware retirement planning. As life expectancy increases, retirement income must last longer. Managing taxes efficiently helps preserve assets and supports income sustainability over extended periods, reducing the risk of running short later in life.
At JLA, retirement readiness is measured by clarity and confidence, not just account balances. We help clients understand how their retirement income will work in real terms; after taxes, across different scenarios, and over time. By coordinating income sources, timing, and tax considerations, planning becomes proactive rather than reactive. Ultimately, income tax planning supports retirement readiness by removing uncertainty. It allows individuals to transition into retirement knowing their income strategy is intentional, sustainable, and aligned with local tax realities. That foresight not only protects financial stability but also allows retirees to focus on enjoying the next phase of life with confidence rather than concern.
Choosing between a general tax professional and a specialized advisor is an important decision, especially in a jurisdiction as distinct as Puerto Rico. While general tax professionals are often well-equipped to prepare returns and handle basic compliance, tax planning requires a deeper, more strategic approach. For individuals and business owners who want clarity, efficiency, and long-term stability, working with someone who understands Puerto Rico’s tax environment is not just helpful; it is essential.
Puerto Rico’s tax system operates under its own legal framework, separate from U.S. state systems. Although many mainland tax professionals are highly skilled, their expertise is typically grounded in federal and state tax rules that do not always apply on the island. Applying those assumptions without adjustment can lead to missed opportunities, inefficiencies, or unintended compliance issues. This is where local expertise becomes a critical differentiator.
A general tax professional often focuses on reporting what has already happened. Their primary role is to ensure that income, deductions, and credits are properly documented for filing purposes. While this is important, it does not address how future decisions should be structured to reduce unnecessary tax exposure over time. Tax planning, by contrast, is forward-looking. It evaluates how today’s choices affect taxes years or even decades down the line.
Midway through a long-term financial relationship, the value of working with a tax planning advisor in Puerto Rico becomes especially clear. Local advisors understand how Puerto Rico income tax rules, retirement income treatment, and business structures interact in real life, not just on paper. They are familiar with common scenarios faced by island residents, such as coordinating local income with U.S.-based retirement accounts, federal benefits, or investments held outside Puerto Rico. Retirement planning is a prime example of where specialization matters. Many retirement strategies promoted on the mainland are designed around U.S. federal tax treatment. In Puerto Rico, retirement income may be taxed differently depending on the source, timing, and structure of withdrawals. A local advisor helps ensure that contributions made during working years align with how income will be taxed later, reducing the risk of unpleasant surprises in retirement.
Business owners also benefit significantly from localized guidance. Income structure, compensation strategies, and retirement plan design all influence tax outcomes. A general tax professional may prepare business returns accurately, but a local tax planning advisor evaluates how business decisions affect personal finances and long-term goals. This coordination helps business growth support, rather than undermine, overall financial stability.
Another important advantage is adaptability. Tax laws change, economic conditions shift, and life circumstances evolve. Local advisors stay attuned to regulatory updates and understand how those changes affect Puerto Rico residents specifically. Ongoing guidance allows strategies to be adjusted proactively instead of reactively, helping clients stay aligned with their goals.
At JLA, the goal of tax planning is not aggressive tactics or short-term savings. It is clarity, compliance, and confidence. Clients gain a clear understanding of where they stand, how their decisions affect their future, and what adjustments may be needed as circumstances change.
In the end, working with a local tax planning advisor is about relevance. Advice grounded in Puerto Rico’s legal and economic reality leads to better decisions, fewer surprises, and stronger long-term outcomes. For those who want more than just tax preparation, local expertise provides the insight needed to plan with confidence.