Friday, November 14, 2014
Monday, September 15, 2014
US IncomeTax Casualty loss Deduction for Damages Incurred in Baja Sur and Los Cabos from Hurricane Odile
The rules for losses on business property and business rentals are different and more generous.
Read the casualty loss tax deduction rules at: http://www.aicpa.org/InterestAreas/Tax/Resources/IRSPracticeProcedure/DownloadableDocuments/Casualty_Guide__June2012.pdf
The IRS pamphlet covering Casualty losses is located at: http://www.irs.gov/pub/irs-pdf/p547.pdf
If you need help understanding these complex rules and how they apply to your Mexican properties write us at firstname.lastname@example.org
Friday, June 6, 2014
For the FBAR (foreign bank account report) you must file it by 6/30/14 for 2013 and no extensions are granted. It is now called form 114 and is filed on line at: http://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html Be sure to keep your receipt and download a copy of the form (in pdf format) so you have proof of filing. The IRS systems sometimes get mixed up.
See the following link for a comparision of the fees charged by the Mexican banks: http://www.thepaperchase.com.mx/blog/
Sunday, March 16, 2014
Thursday, March 13, 2014
Some states make it difficult for expats abroad to stop paying state taxes. Some of the most expensive states are those ones. See most costly income tax states in article below.
Friday, March 7, 2014
From Forbes ... An excellent article on US taxation of foreign pension plans... Many problems and surprises