It’s not uncommon to hear your neighbors, friends and family in America complain about paying high taxes on everything. Perhaps even you are complaining. When it comes to property, no one is sure about what to do anymore. But some thousands of people have hit the nail on the head and found the easy solution: moving! … [Read more...] about Moving Is the Solution to High Property Taxes
Mexico Real Estate Taxes
With the incredible coastlines, attractions, weather, low cost of living and healthcare, Mexico has become a preferred destination for retirement, full time residency and real estate ownership for Americans and Canadians. Friday November 1st the Mexican Congress passed the first part of the proposed Mexican reforms … [Read more...] about Mexico’s New Tax Reforms – Could They Affect Interest in Foreign Real Estate Purchases?
On a fairly regular basis – in fact, whenever I write about the cost of living or property expenses in Mexico, I emphasize that property taxes are virtually a non-expense in Mexico. However, it's always necessary to see cold, hard numbers. While there are variables in the calculation, I find that property taxes … [Read more...] about How Much Are Property Taxes in Mexico?
Having information on what to do with your U.S. taxes when you own a property in Mexico is always helpful. Recently, the IRS has announced that Mexico's Bank Trusts (“fideicomisos”) are not “trusts” in the proper sense of the word for U.S. taxes. It seems that this is good news, making for less paper work, at … [Read more...] about Mexico Real Estate and U.S. Taxes: Land Trust not a “Trust”
IMPORTANT UPDATE (Dec. 18, '12): The following article was written by Thomas C. Brown, as posted at Nuwire Investor, as indicated at the bottom of this post. The information about reporting Mexico real estate owned by means of a "fideicomiso" ("Bank Trust") for U.S. taxes could be a useful consideration for owners; … [Read more...] about Do You Own Mexico Real Estate Through a Fideicomiso? Important Tax Reporting Information – UPDATEDCómo gastar inteligentemente nuestros aguinaldos esta temporada decembrina.
A question that many expats who own Mexico real estate will be wondering about is the exemption from capital gains taxes when selling a property and how the new immigration laws affect this exemption. The Capital Gains Tax and It’s Exemption in the Past Very briefly, if an expat sells a property in Mexico, … [Read more...] about Mexico Real Estate & the New Immigration Laws! Part 2 – Tax Exempt Status?
Every transfer of Mexico real estate property MUST, by law, be made before a Mexican notary public. The Mexican notary public is required to have a degree in law. He must have a minimum of five years of legal practice, pass a rigorous examination and then be appointed by the governor of the state in which he/she … [Read more...] about Mexico Real Estate Closing Advice and Role of the Closing Agent
This is important news for all Playa del Carmen real estate owners; starting NOW, there are large discounts available for early payments of 2011 Playa del Carmen property taxes. The discounts and dates are as follows: NOW until December 15: 25%!!! December 16 – December 31: … [Read more...] about Attention Playa del Carmen Real Estate Owners – Super Property Tax Discounts for Early Payment!