My wife and I are taking our "trial retirement" on St John, this summer. I have 2 quick questions.
1. Is a full size Escalade too big to be practical
2. Does the VI tax capital gains at a lower level, similar to mainland
The USVI taxes capital gains the same way that the IRS does. We fill out the same forms, but we send the tax due to the VIBIR instead of to the IRS. If you’re here for less than 183 days per year, then you should not file as a USVI resident. Disclaimer: I am not a CPA.
Thank you for the input
I will still consult a tax attorney before I make the jump.
Anyone have any input about the full size Escalade part? I'm curious myself.
I don't live on St John, but my personal experience is that it would be too big. It certainly would work, but the poor turning radius would annoy me dealing with all the switchbacks. I have a 4D Wrangler, but when on STJ I rent 2D Wranglers because they're easier to maneuver and park in tight spaces.
Disclaimer: I'm from St Croix 🙂
the parking spaces could be the killer,
As far as the full size Escalade, parking would probably be the biggest set back. Parking is limited, and tight in most places. Something smaller, with 4WD and clearance is better on St. John. And dings and dents on our cars seem pretty much the norm no matter the size.
I have a GMC Yukon over here on St Croix...never any issues with driving or parking. Having been to St. John many times, I can't imagine why an Escalade would be an issue there either. There are no laws against big SUVs.
I drive a Ford Excursions here on STX. No issues, it makes a great touring car for guests and restaurant runs when several are going.
Before I brought from California it there were several on this page that tried to discourage me.
My advise is to do what you want, that's why we moved here!
Regarding taxes, I do my own, they are identical to the 1040 you file in the states except you must be here at least half the tax year, pay quarterlies to the BIR and file with the BIR.
Be sure that you change your address with the IRS when you file with them the last time.
More complicated issues are best dealt with by an accountant.
Thank you to everyone for the input, it is appreciated
As long as it's relatively high off the ground and has a powerful engine to make it up steep hills and around sharp corners, you should be fine bringing it. Parking is practically non existant in Cruz Bay so not really an issue. Good Luck.