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denvertired
(@denvertired)
Advanced Member
Joined: 5 years ago
Posts: 113
January 27, 2015 11:23 pm  

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

thanks


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STXBob
(@STXBob)
Trusted Member
Joined: 14 years ago
Posts: 2138
January 28, 2015 12:10 am  

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.


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denvertired
(@denvertired)
Advanced Member
Joined: 5 years ago
Posts: 113
January 28, 2015 12:15 am  

STXBob,

Thank you for the input
I will still consult a tax attorney before I make the jump.

Scott


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Jasonaut
(@Jasonaut)
Active Member
Joined: 5 years ago
Posts: 11
January 28, 2015 12:22 am  

Anyone have any input about the full size Escalade part? I'm curious myself.


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StCroixBeachBoy
(@StCroixBeachBoy)
Advanced Member
Joined: 10 years ago
Posts: 95
January 28, 2015 12:29 am  

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 🙂


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denvertired
(@denvertired)
Advanced Member
Joined: 5 years ago
Posts: 113
January 28, 2015 12:44 am  

the parking spaces could be the killer,
thank you


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stjohnjulie
(@stjohnjulie)
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Joined: 12 years ago
Posts: 871
January 28, 2015 8:28 am  

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.


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vicanuck
(@vicanuck)
Trusted Member
Joined: 10 years ago
Posts: 2481
January 28, 2015 11:26 am  

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.


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Ca. Dreamers
(@ca-dreamers)
Advanced Member
Joined: 10 years ago
Posts: 405
January 28, 2015 11:38 am  

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.

CD


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denvertired
(@denvertired)
Advanced Member
Joined: 5 years ago
Posts: 113
January 28, 2015 1:01 pm  

Thank you to everyone for the input, it is appreciated


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Alana33
(@Alana33)
Expert
Joined: 8 years ago
Posts: 12267
January 28, 2015 2:21 pm  

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.


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