As in most countries, the U.S. tax regulations are complicated, especially when dealing with properties or assets set outside the United States. Not all accountants and tax advisors know the tax systems of other countries. For this reason and so you can understand taxes in Mexico Real Estate, we highly recommend that … [Read more...] about Bi-national Transactional Taxes in Mexico Real Estate
Mexico Real Estate Taxes
Tax Obligations on Vacation Rentals in Mexico
Owning real estate in Mexico, and especially in the Riviera Maya, can have many advantages for you and your family. Having a vacation home in one of Mexico’s most popular destinations and earning extra income is considered having the best of both worlds. Throughout the years, many foreign investors have created a … [Read more...] about Tax Obligations on Vacation Rentals in Mexico
International Taxes Between the United States and Mexico
Having the opportunity to relocate to a foreign country can create a greater financial positioning for you and your family. It lends to experiencing a different culture, simpler living habits and, in most cases, lowering your cost of living. But like anywhere else in the world, paying taxes is not something you can … [Read more...] about International Taxes Between the United States and Mexico
Mexico’s New Tax Reforms – Could They Affect Interest in Foreign Real Estate Purchases?
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?
How Much Are Property Taxes in Mexico?
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?
Mexico Real Estate and U.S. Taxes: Land Trust not a “Trustâ€
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 (“fideicomisosâ€) 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, … [Read more...] about Mexico Real Estate and U.S. Taxes: Land Trust not a “Trustâ€
Mexico Real Estate Closing Advice and Role of the Closing Agent
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
Attention Playa del Carmen Real Estate Owners – Super Property Tax Discounts for Early Payment!
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 … [Read more...] about Attention Playa del Carmen Real Estate Owners – Super Property Tax Discounts for Early Payment!