Omar is a tax partner with over sixteen years of experience in public accounting, including “Big Four” firms.
He has experience in consulting services, general and public accounting, and taxation, with hands-on experience in Puerto Rico tax incentives, private letter rulings and closing agreements, and tax planning and strategies
He has also worked in the areas of individual and corporate taxation, as well as partnerships, corporations of individuals, and limited liability companies in the manufacturing, wholesale, retail, service, real estate/low income housing and hospitality industries.
Memberships
- Puerto Rico State Society of Certified Public Accountants
- American Institute of Certified Public Accountants
Qualifications
- BBA, major in accounting
- CPA
Latest Articles
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Advisory
Understanding and Utilizing Net Operating Losses (NOLs): How Puerto Rican businesses can carry forward or backward their NOLs to offset taxable income.
Net operating losses (NOLs) can be a boon for corporations that experience a down year, allowing them to offset taxable income in other years. But, NOLs come with complex rules and limitations, so it's important to understand your options. This article will answer all your frequently asked questions about NOLs, including what they are, how to calculate them, whether they can be carried back or forward, how to claim them, and what limitations and special rules apply. By the end, you'll have the knowledge you need to use NOLs to your corporation's advantage.
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7 min read
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30 Nov 2023
Tax Insights
Puerto Rico Income Tax Deductions: A Step-by-Step Guide for Individual Taxpayers
This publication is part of a four-part series. For a discussion on our previous articles in this series, refer to the following links:
Puerto Rico Opens its Doors for Disregarded Entities | Grant Thornton
Three become One: The New Pass-Through Entity Category | Grant Thornton
Puerto Rico Income Tax Deductions for Corporations: A Step-by-Step Guide | Grant Thornton
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16 min read
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31 Oct 2023
Tax Insights
Maximize Your Small Business Growth by Taking Advantage of Available Tax Incentives in Puerto Rico
Small and medium-sized businesses, also known as PyME or PyMEs (for its Spanish translation), represent an important sector of the Puerto Rican economy, as they play a substantial role in generating employment opportunities for the Island and boosting economic growth. According to the Department of Economic Development and Commerce (DEDC) PyMEs Annual Report, in 2019 PyMEs accounted for 91.4% of the total establishments in Puerto Rico, contributing 44.8% of the total jobs in the private sector, and representing 39.2% of the total payroll in Puerto Rico’s private sector during such year.
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13 min read
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28 Sep 2023
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