Ask An Expert
SAT on Timeshare sales
Question: I have been contacted about selling my timeshare in Mexico. The firm claims that I must pay 12.5% tax on this sale. Can you confirm that? Answer #1 Rory King: The answer to the question is a little complicated because it depends on the type of timeshare. Most timeshares or fractional ownership packages...
Mexico Rental Income
Paying Tax Is Now Easier Than Ever and with Stateside Benefits!
http://youtu.be/UJUrtLMJByw Those who have rental properties in Mexico can now rest easy. SAT, Mexico’s Uncle Sam, has provided a straightforward and relatively simple way to declare and pay taxes on rental income for those foreigners who have long wished to be in compliance but did not know the way to do so. As of February...
The Fideicomiso Controversy
and Forms 3520 and 3520A
Per Internal Revenue Code Section 6048, any trust established in a foreign country by a United States citizen requires filing certain forms with the U.S. Department of the Treasury (Internal Revenue Service) each year. Forms 3520 and 3520A must be filed by anyone who holds an interest in a foreign trust as a beneficiary. These...
2008 Tax Law Update
Flat Tax Law, law on cash deposits tax, and how to legally minimize your Income Tax payment on Capital Gains
Let’s say it once: It is not a matter of avoiding the pain for the pain is inevitable; it is a matter of choosing the consequences of pain. – Maurice Maeterlink, Belgian writer I. Flat Tax Law (IETU) On January 1, 2008, the Flat Tax Law 2008 (Ley del Impuesto Empresarial a Tasa Unica or...
