Over one-half of the Canadians and Americans who rent their Mexican properties are not paying their Mexican taxes on that income. What are those taxes you owe?
- IVA which is 16 % of your gross rental income (deductible on US return)
- Local Lodging Taxes (if it applies) in the City where the property is located (deductible on US return)
- Mexican income tax on rental income (can be credited against US tax on this income)
The Settlement Company offers the service of filing and paying rental taxes on Mexican rentals for nonresident owners. Read more at www.RentalTax Mexico.com