NOT EVERYONE RENTS THEIR MEXICO PROPERTY DURING THE SUMMER MONTHS………….
HOWEVER, IF YOU ARE CONSIDERING RENTAL INCOME FOR THOSE “HIGH SEASON” MONTHS, DO IT NOW!
ENROLL in the program, get the documents in order so no time is lost when you begin collecting the rents!
Pay only the setup and 4th quarter fee now, and begin your tax payment program in October or November when the renters come back.
Why declare and pay taxes on Mexico rental revenues?
FOREIGNERS ARE OBLIGATED TO PAY TAXES ON INCOME GENERATED IN MEXICO. Mexico’s tax law is patterned after those of the United States and Canada (world rental system) which states in the First Article::
Article One: Physical persons (individuals) and legal persons (companies) are obligated to pay an income tax in the following cases:
I Residents of Mexico, must report and pay on all income no matter where the source is located;
II. Those with residence in a foreign country with a property in Mexico must report and pay on all income generated from that Mexican property.
If you own a property in Mexico and rent it often or only occasionally, ENJOY your rental income and SLEEP EASILY KNOWING YOU HAVE COMPLIED WITH MEXICAN TAX LAWS!
The Settlement Company® with many years of experience in the transfer of titles and resolution of problems related to title, is able to assist you in receiving your funds in an escrow account, complying with your fiscal obligations in Mexico, providing you with the overage and the documents you require in your country of residence to avoid double taxation!
For additional information, contact us today! firstname.lastname@example.org or email@example.com, www.rentaltaxmexico.com, www.settlement-co.com, Rentaltaxmexico@settlement-co.com
About the author:
LINDA JONES NEIL is the founder of The Settlement Company, which specializes in real estate transfers and escrows. Licensed as a California real estate broker, she has pursued her profession in Mexico for over forty years. Her skills and experience in negotiating contracts between parties from three distinct cultures have placed her services in demand as a consultant and for speaking engagements on Mexican law and customs in Mexico, the United States and Canada. She has been widely published on the subject of real property in Mexico. Memberships; FIABCI, AMPI and NAR. Linda is a former member of the National Advisory Council of AMPI and serves as Presidential Liaison for Mexico to the National Association of Realtors®. She is also co-founder of Global Mexico Real Estate Institute (IIGM), an educational institution which provides international real estate classes and designations.
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