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Paladin
Nomad
Posts: 164
Registered: 3-25-2006
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Thanks again...I'll take the recommendation about the accountant to heart.
I'm already in trouble with the IRS so I'll be extra careful in Mexico.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
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Mood: A lot cooler than Mulege
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just ask lots of questions and listen close to the answers. you can ask me anything and I will give it my best go. the rules always are changing here
in Mexico.
Bruce R Leech
Ensenada
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vandenberg
Elite Nomad
Posts: 5118
Registered: 6-21-2005
Location: Nopolo
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Mood: mellow
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My wife does ceramics and has her product in several shops in town and the Inn at Loreto Bay. Small operation and ,according to the bookkeeper, Pays
2% of her gross sales to Hacienda. Too small to give facturas and collect the 10% IVA for them.
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bajajudy
Elite Nomad
Posts: 6886
Registered: 10-4-2004
Location: San Jose del Cabo,BCS
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Larry
That is another reason you need a good accountant. They know the rules so you can wind up making a little money.
And the rules have gotten stricter since we started our business. Por ejemplo: Now if we write a check for more than 2000 pesos, we have a carbon
receipt that must be signed as acceptance of the check. We have to stamp these checks with "for deposit only" (that is in Spanish but I cant
remember the exact words).
All of our bills must have our RFC number on them(phone, elect etc)
Lotsa rules, all in Spanish....tough to abide by something that you dont even understand
Hacienda has a worse rep than the IRS with the Mexican public. And you do not want to have to answer any questions from them. So we play by the
rules. If I were a Mexican citizen, I might get a little sloppy with them but I am not and I do not want to HAVE to leave.
If your accountant is a good one, he keeps you up to date on all of these rules changes so your deductions are allowed.
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bajajudy
Elite Nomad
Posts: 6886
Registered: 10-4-2004
Location: San Jose del Cabo,BCS
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Larry I was typing when you were asking:
I have never heard of this 2% rule but I cannot imagine Hacienda not collecting their 10% IVA on items sold. If you charge IVA, you damned well
better give it to Hacienda or they will come looking for it.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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| Quote: | Originally posted by bajajudy
Larry
That is another reason you need a good accountant. They know the rules so you can wind up making a little money.
And the rules have gotten stricter since we started our business. Por ejemplo: Now if we write a check for more than 2000 pesos, we have a carbon
receipt that must be signed as acceptance of the check. We have to stamp these checks with "for deposit only" (that is in Spanish but I cant
remember the exact words).
All of our bills must have our RFC number on them(phone, elect etc)
Lotsa rules, all in Spanish....tough to abide by something that you dont even understand
Hacienda has a worse rep than the IRS with the Mexican public. And you do not want to have to answer any questions from them. So we play by the
rules. If I were a Mexican citizen, I might get a little sloppy with them but I am not and I do not want to HAVE to leave.
If your accountant is a good one, he keeps you up to date on all of these rules changes so your deductions are allowed. |
this is why I was saying that if your earnings are less than 2,000,000.oo pesos and that is a lot of money, it is better if you don't have a Mexican
Corp. if you have your accountant register your business with the Hacienda as pecineuo you will pay less than 2% this is a relatively new thing that
they came up with a while back to try to get some of the small business to start paying taxes.
If your accountant has not told you about this get a new accountant.
Bruce R Leech
Ensenada
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bajajudy
Elite Nomad
Posts: 6886
Registered: 10-4-2004
Location: San Jose del Cabo,BCS
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We dont qualify for that program, Bruce
I didnt know the exact figures(ie 2%) but we did discuss it with our accountant.
[Edited on 7-30-2006 by bajajudy]
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
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Mood: A lot cooler than Mulege
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can anyone corect my spelling of pecineuo?
Bruce R Leech
Ensenada
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comitan
Ultra Nomad
Posts: 4177
Registered: 3-27-2004
Location: La Paz
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Mood: mellow
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Pequeno?
Strive For The Ideal, But Deal With What\'s Real.
Every day is a new day, better than the day before.(from some song)
Lord, Keep your arm around my shoulder and your hand over my mouth.
“The sincere pursuit of truth requires you to entertain the possibility that everything you believe to be true may in fact be false”
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Dave
Elite Nomad
Posts: 6005
Registered: 11-5-2002
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My BEST advice
| Quote: | Originally posted by Paladin
I'm not worried about losing my investment, I like taking risks. The investment would be max of $75,000 before I find out if I was stupid and had to
bail out.
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Take your 75k and invest in Baja dirt.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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| Quote: | Originally posted by lencho
| Quote: | Originally posted by comitan
Pequeno? |
Too obvious to be that far misspelled, didn't even consider it. Bet you're right. 
--Larry |
I think comitan is right as usual
Bruce R Leech
Ensenada
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JZ
Select Nomad
Posts: 10590
Registered: 10-3-2003
Member Is Offline
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| Quote: | Originally posted by Dave
| Quote: | Originally posted by Paladin
I'm not worried about losing my investment, I like taking risks. The investment would be max of $75,000 before I find out if I was stupid and had to
bail out.
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Take your 75k and invest in Baja dirt. |
Donde.
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Al G
Ultra Nomad
Posts: 2647
Registered: 12-19-2004
Location: Todos Santos/Full time for now...
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Mood: Wondering what is next???
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| Quote: | Originally posted by fdt
| Quote: | Originally posted by Al G
[I think your are way wrong, not to mention mexicans (non official) will not know anyway. They do not deal with this issue. |
So mexicans know nothing about business?
I sure hope paladin does'nt listen to your advise. You mi amigo, IMHMO, are of very low intelect! |
I will not make as nasty of a comment, I will not judge your intelligence. It seems most people on here understood what I said. I said nothing
disrespectful.
Albert G
Remember, if you haven\'t got a smile on your face and laughter in your heart, then you are just a sour old fart!....
The most precious thing we have is life, yet it has absolutely no trade-in value.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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| Quote: | Originally posted by Al G
| Quote: | Originally posted by fdt
| Quote: | Originally posted by Al G
[I think your are way wrong, not to mention mexicans (non official) will not know anyway. They do not deal with this issue. |
So mexicans know nothing about business?
I sure hope paladin does'nt listen to your advise. You mi amigo, IMHMO, are of very low intelect! |
I will not make as nasty of a comment, I will not judge your intelligence. It seems most people on here understood what I said. I said nothing
disrespectful. |
Al I think he just needs to go back and read your post again , he obviously did not understand what you were saying. you wrote it well even I
understood.
Bruce R Leech
Ensenada
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Al G
Ultra Nomad
Posts: 2647
Registered: 12-19-2004
Location: Todos Santos/Full time for now...
Member Is Offline
Mood: Wondering what is next???
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I too, on first reads do not understand and if it provokes strong emotion, I try always to reread. This form of communication is difficult at best.
I will try to be more complete, but I try hard now.
Albert G
Remember, if you haven\'t got a smile on your face and laughter in your heart, then you are just a sour old fart!....
The most precious thing we have is life, yet it has absolutely no trade-in value.
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DanO
Super Nomad
Posts: 1923
Registered: 8-26-2003
Location: Not far from the Pacific
Member Is Offline
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Invest in dirt where?
Colonet!
Sorry, I couldn't resist.
\"Without deviation from the norm, progress is not possible.\" -- Frank Zappa
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JZ
Select Nomad
Posts: 10590
Registered: 10-3-2003
Member Is Offline
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Yeah, where is that crazy woman??
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villadelfin
Nomad
Posts: 273
Registered: 4-8-2006
Location: La Paz
Member Is Offline
Mood: toasted and buttered
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pecunia means cash. Pecunario is "financial" Isn't there some kind of small business you can set up that's rather informal? Is that what vandenberg's
wife has going?
[Edited on 7-31-2006 by villadelfin]
[Edited on 7-31-2006 by villadelfin]
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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| Quote: | Originally posted by villadelfin
pecunia means cash. Pecunario is "financial" Isn't there some kind of small business you can set up that's rather informal? Is that what vandenberg's
wife has going?
[Edited on 7-31-2006 by villadelfin]
[Edited on 7-31-2006 by villadelfin] |
yes and it is Pequeno we just got notice last week that all the rules have changed effective 1st of August. so every one check with there accountant.
the changes are much better for us we wont need an accountant any longer.
[Edited on 8-3-2006 by Bruce R Leech]
Bruce R Leech
Ensenada
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Dave
Elite Nomad
Posts: 6005
Registered: 11-5-2002
Member Is Offline
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I know where
| Quote: | Originally posted by DanO
Invest in dirt where?
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When I'm ready to sell, you'll be the first to know. 
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