measomsan
Nomad
Posts: 161
Registered: 9-2-2010
Location: Houston, Cabo
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Permint resident
Does that mean no capital ganies when I sell my casa ?
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Russ
Elite Nomad
Posts: 6742
Registered: 7-4-2004
Location: Punta Chivato
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No
Bahia Concepcion where life starts...given a chance!
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measomsan
Nomad
Posts: 161
Registered: 9-2-2010
Location: Houston, Cabo
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Bummer
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Russ
Elite Nomad
Posts: 6742
Registered: 7-4-2004
Location: Punta Chivato
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I know but working with a good tax person can save you thousands. So I'm told.
Bahia Concepcion where life starts...given a chance!
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woody with a view
PITA Nomad
Posts: 15939
Registered: 11-8-2004
Location: Looking at the Coronado Islands
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Mood: Everchangin'
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pay your taxes. the rest us us need it!
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measomsan
Nomad
Posts: 161
Registered: 9-2-2010
Location: Houston, Cabo
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Will do, but outside of getting to go thru the Mexico line at the airport tha does save time. I'm just trying to see what else is gained by completing
this process
Getting confection reports about having or not having to import car with US plates. If I fly and don't show I'm perment thenimjust carry the paper
status. But then no short Mexican line.
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
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Mood: thriving in Baja
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Quote: | Originally posted by measomsan
Will do, but outside of getting to go thru the Mexico line at the airport tha does save time. I'm just trying to see what else is gained by completing
this process
Getting confection reports about having or not having to import car with US plates. If I fly and don't show I'm perment thenimjust carry the paper
status. But then no short Mexican line. |
PM STATUS ALSO ALLOWS YOU TO LEGALLY WORK IN MEXICO.
Bob Durrell
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oladulce
Super Nomad
Posts: 1625
Registered: 5-30-2005
Location: bcs
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Yeah, we thought we'd be at the top of the ladder with Permanentes and then discovered there's another rung to go for the capital gains benefit.
Citizenship and receipts/proof that the place you're selling has been your primary residence for 5 years is the criteria to reduce Cap gains, if I've
been reading accurate sources.
Not excited about having to deal with citizenship but 30% (ish) tax is a big motivator.
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