What Americans Living, Working or Making Money in Mexico Need to Know About Taxes For 2024!

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www.bnctax.com

[@rosalindhb]

Great info. Lots to think about.

[@Belgarath777]

I can vouch for Cindy's company, she was extremely helpful, but when my taxes became extremely simple, the prices were becoming exorbitant, so I was able to just do them on my own for 1/8 the cost. If you have a complicated return and you want confidence that they will be done correctly, her company is a great option if you can afford them.

[@roundpaws]

Fantastic video. Cindy was so knowledgeable and a great communicator. I contacted her because of your video 👍

[@dreamretirementinmexico]

great to know. thanks :)

[@DestinationRetirement]

I have two airbnbs in Mérida. I do have an RFC number and I pay 4% income tax and 8% VAT tax. Airbnb does collect and remit for me. Then my book keeper reports monthly. Before I had my RFC number I paid 16% And 20%. Great info!

[@p.c.h.6721]

Hi, so now that you have an RFC, you pay less taxes on your Airbnbs than when you had no RFC, correct? And, Is it mandatory to get an FRC once you get permanent residency? Thanks

[@queserasera1674]

Great info. TY. When CBDC is implemented worldwide, taxes will be taken by govts immediately, no annual tax returns will be necessary. Mexico originally stated they'll implement CBDC in 2024 but now stating 2025.

[@rebeccampetty9315]

I didn’t see the Facebook or web address. Can you please post it? TIA

[@leemartinez2975]

How shall expats that are permanent residents or temporary residents working remotely for US companies as W2 employees declare taxes in Mexico? As I understand the US companies would need to set up a Mexican business entity.

[@p.c.h.6721]

I believe if you work for a US company while living in Mexico, you still pay taxes in the US, better to let the US company take care of that.

[@leemartinez2975]

@@p.c.h.6721 Do I need to report my salary to SAT in Mexico? If I purchase a home in Mexico I do not want to get in trouble with the Mexican IRS (SAT).

[@p.c.h.6721]

@leemartinez2975 Hi, if you work from your Mexican home for a US company, you do not need to report anything. If you purchase a home in Mexico, you'll only need to pay property taxes in Mexico, which is not much. Your US income is not reportable to SAT.

[@leemartinez2975]

@@p.c.h.6721 Hello, where can I go to cross reference this information please? Since I do not know you I would like to verify your helpful information. Thank you.

[@p.c.h.6721]

@leemartinez2975 You'll need to talk to a Mexican tax lawyer, which is what I did (I also work online from my home in Mexico). Best of luck.