contact@mextax.com.mx
(984) 803-5509

Purchasing or Renting Properties

The decision to buy or rent property in a foreign country should not be taken lightly. When choosing your new property, it is important to remember the financial and fiscal obligations that will come with it, as well as the various steps that need to be accomplished once the property is purchased.

 

In compliance with the regulations in force regarding real estate transactions, a legal and accounting process must be completed to present to the authorities the calculation of profit of the sale.

Taxes on the sale or rental of real estate

  • In most real estate transactions, the buyer is responsible for the cost of the deed and the transaction.

 

Expenses relating to the transaction include:

  • The property acquisition tax (a local tax sometimes referred to as transfer tax)

  • Fees for the public registration

  • Rights to obtaining certificates from various agencies (such as the certificate of non-encumbrance, evidence of non-debt for services and utilities, etc.)

  • Notary fees.

 

However, the seller also pays taxes such capital gains. This tax must be paid when a person derives income from a rental property or profits on the sale of the property.

There are a number of opportunities to avoid or reduce the tax, either through exemptions or deductions. According to the law, some expenses may be subtracted from income to decrease the profit and, consequently, lower the tax. In the case of an individual, you have no tax obligation if you meet certain criteria.

Companies with Business Operations

We prepare your accounting books and records (regardless of where your business is located) through a detailed recording of transactions while ensuring the protection of your information, and providing management with statistics and data that are crucial to decision making.

Our Specialties

Financial Accounting - Analytical Accounting and Business Management
Individuals with Business or Professional Activities - Obligations with Public Authorities - Payroll

Financial Accounting

  • Management and accounting review of operations

  • Design and creation of specialized accounting plans

  • Training of your accounting department staff

  • Review of financial statements

  • Updating past due accounts

  • Preparation of annual accounts and filing for SAT

Analytical Accounting and Business Management

  • Analytical and cost accounting

  • Budget accounting: preparation and monitoring

  • Monitoring of cash-flow and cash-flow projections

  • Analysis of balance sheets and results

  • Advice and preparation of accounting and strategic reports

Individuals with Business or Professional Activities

We provide services for self-employed individuals who provide independent services to companies, government agencies or persons in general, such as architects, lawyers, doctors, and dentists.

Obligations with Public Authorities

All businesses in Mexico must:

 

  • Create and maintain the salaried regimen, they must complete enrollment in the RFC and keep the information current.

  • Must issue invoices that include the digital stamp of the SAT so that they can deduct and accredit fiscally.

  • Are obligated to withhold Income Tax (ISR) when workers are paid wages or salaries.

  • Provide proof of the employee benefits, wages, and withholdings, (taxes paid by the employer) no later than February of each year.

Payroll

Simply enter the basic hours and wages; we take care of all the other obligations including filing with SAT, calculations, forms, and other fiscal obligations are taken care of by Mextax.

 

The payroll services include:

 

  • Provide advice for the company regarding the payment of salaries and payroll matters.

  • Legalization of new businesses and job recommendations for entrepreneurs.

  • Management of changes and variations, in your labor force in the General Treasury of Social Security.

  • Information on hiring costs, following analysis of the most appropriate type of contract for each business.

  • Preparation of receipts for salaries, in accordance with the labor standards applicable to the sector of activity of the business.

  • Preparation and submission of Social Security contribution documents.

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