Capital Gains Tax
On the Sale of Your Vacation Home
Real estate investors always have a lot of questions about income tax on capital gains. Instead of writing an article giving a full explanation of how this tax is calculated, deducted, exempted and paid, I prefer to share with you the most frequently asked questions made by property owners and tax payers. What is the...
Condominium Law in Guerrero
This article covers condominium law in Mexico, how a condominium legally works and what are the rights and obligations of owners. Governing rules The governing rules for condominiums are the Condominium Ownership Law No. 557 of the State of Guerrero (referred to here as the Law), and the Condominium Regime, which contains the individual condominium...
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...
Income tax on gains from transfers of real estate
The new rate of Income Tax for 2007 will be 28 percent in accordance to prior amendments made to transitory articles of the Income Tax Law. During December 2006, certain additions and amendments to the Income Tax Law and its regulations respectively, were approved regarding Income Tax on the transfer of main residences. In the...
The Federal Zone – Maritime Terrain Federal Zone Concessions
What is it? What are my rights and obligations? How can I get it; and what are my benefits? “En el mar la vida es mas sabrosa” / “Life is better at the beach” 1. What is a Federal Zone? The Maritime Terrain Federal Zone, commonly known as the “Federal Zone,” is considered as: a....
Private Contracts
...between Buy and Seller. When acquiring property in Mexico, are they really necessary?
¡A las palabras se las lleva el viento! Words are gone with the wind – Mexican saying When I meet with a client who has the idea of acquiring property in Mexico with a private contract between buyer and seller, my recommendation is always the following: 1. First, Obtain a copy of the registered title...
Visas & FM documents
Defining non-immigrant, immigrant and immigrated status
Kip and I are both international bastards—born in once place and choosing to live elsewhere. Fighting to get back to or get away from our homelands all our lives. – Michael Ondaatje, The English Patient. Some of my clients and friends, either newcomers or residents, have asked me if it is necessary to obtain a...
