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[quote=”enia65″]
Wow I see people don’t know how read English and they miss understood the question I see dmh57 … Question is about taxes in the Spanish trans(la pregunta es aserca de IMPUESTOS) please read or get some one else with more knowledge on English before post comments … this is a tourist will like to live in Costa Rica, as a Costarican Citizen I will like to give and answer but I been living out of my Country for more then 20years and Costa Rica law has been change allot, hope someone else with better knowledge can give the correct answer GOOD LUCK :D[/quote]
Uh, if you take time to read the first 2 responses to his original post, you will see that he received his answer.
1. David McMurray offered the second response: “U.S. citizens are liable for U.S, federal income taxes regardless of the place of their residence whether in the U.S. or outside. You have a right to all the benefits of your citizenship and the obligation we all have to pay your share for them.”
David’s comment is an affirmative statement explaining that it is every citizen’s obligation to file and pay his/her fair share of taxes. I believe his comment was intended to not only answer the original post, but to accurately clarify my initial response, which was:
2. from me – “That all depends on the amount of your pension plus the amount of any other additional income you receive and any deductions you may have to reduce your taxable income.”
I should have been more precise and said it this way – yes, you still have to file a U.S. tax return no matter what the total amount is of your pension + any additional income you may earn, but the amount of taxes that you are ultimately obligated to pay depends not only on your gross income but also on the legal exemptions and deductions you are allowed to apply that reduce that total amount (“gross income”), the reduced amount then becomes your “taxable income”. Only after determining taxable income will you know if you owe taxes and if so, how much, or if you will be getting a refund.
Then, if you do owe and you do pay, you have no direct determination of how the government chooses to spend your tax “contribution”.
[quote=”maravilla”]i hope you have legal residency in costa rica and are not one of the illegal aliens.[/quote]
OK, I’ll bite…..
I just returned from the States yesterday and received a 90 day stamp from an immigration officer representing the Republic of Costa Rica.I do not have residency – how does that make me an illegal alien?
[quote=”dmh57″]I have a question on United States Taxes. When living in Costa Rica I know I will have to pay US taxes on my pension. If I live Costa Rica year round will I get most of the taxes I paid back or do I still have to support the illegals back here in the states.:)[/quote]
That all depends on the amount of your pension plus the amount of any other additional income you receive and any deductions you may have to reduce your taxable income.
If you are here in Costa Rica, the good news is that it is much easier and faster to get the renewal done here at the embassy than it in the States.
Having said that, if you are in the States and need it done in a hurry there are services available (for a hefty fee) that will get the renewal done in only 2-3 days.
Some friends that were coming to visit recently discovered on a Sunday night that they had less than 3 months left on their passports. That night they went to a drug store and got their photos done, downloaded the forms from the expediting service, filled them out and fed-ex’d everything Monday morning. He called Tuesday morning to check, and the manager of the Miami office explained that Philadelphia office had a lighter workload and because of their relationship with the passport office there, they were the best shot at getting this done – so he over-nighted them to Philly (arrived Wednesday morning). Thursday morning at 10AM fed-ex delivered the two brand new passports to my friend’s office, and they were able to depart on schedule, the next morning …….. of course they arrived with about $1,000 less than they had on Sunday when they discovered the problem!
Renewal passports in less than a week – it can be done, for a price!
The passport card is only good for [b][/b]ENTRY INTO[b][/b] the States [b][/b]FROM[b][/b] Canada, Mexico, the Caribbean, and Bermuda – but not by air.
Don’t confuse the Passport Card with “GLOBAL ENTRY” which can be used for air travel to the States and allows you to bypass those long lines at us immigration.A friend of mine received the following quote today from his San Jose attorney”
[b]”I have several questions and doubts regarding the process of approval of this law, as well as how it is going to be applied by the Government. In fact, I expect that today several actions of constitutionality will be filed and others were filed about a week ago.
I have been recommending to my clients to wait for a couple weeks before making the payment or take any actions regarding this law. However, in the worst case scenario, the penalty for not pay this tax within this month will be 12 colones per day, some 360 colones per month (less than one dollar).”[/b]
Sounds like good advice to me, and we have all been told that the best attorneys are in the Central Valley!!
In all probability you will be denied boarding your flight to CR, as it is the airline who has the first obligation to make sure you have scheduled and purchased “onward travel”. If you get on your flight, then you also must hope that migracion passes you through. If not, you get a free ride back courtesy of the airline that brought you there.
I don’t know your departure city in the US, but one thing that people have done in the past is to purchase a full fare, 100% refundable airline ticket returning in say, 80-85 days.
Then, after you get there and get settled you can cancel the ticket(s) for a full refund. Your next worry is to not overstay your 90 days, but if you do make sure to get your CR drivers license!Well said David!
We have a guest house that we lease out and (since 5-Jan) it has been vacant 2 days. Over 75% of those guests have had rental cars for most, if not all, of their visit!If you learn to drive LIKE a Tico, there is no problem driving WITH Ticos!
[quote=”DavidCMurray”]You’re relying on [u]me[/u] to remind you?? Better mark your own calendar as well.
[/quote]Mine is marked – of course you will not remember that!
David – don’t forget to check your calendar that day. If I can remember I’ll send you a reminder.
crb[u][b]NOTE: THIS IS NOT LEGAL ADVICE![/b][/u]
I received a note from a friend of mine today that included the following:[i]”The attorney I work with the most has recommended waiting until after Semana Santa to do anything. He knows of at least a half dozen cases that will be launched with the Constitutional Court immediately when the law goes into effect. There is a good chance the whole thing could be delayed by months before implementation, or even thrown out completely.”[/i]
If we have until the end of April this may be good advice, even if it is [b]NOT LEGAL ADVICE[/b][u][/u]!
[quote=”DavidCMurray”]Based upon what my wife read online today, I think you’re estimating your corporate tax liability on the high side. She read that it’ll be more like $65US or so.
Our attorney advised us that all you need in order to pay the tax is the corporation’s cedula number. Take that to the teller at Banco de Costa Rica and tell him or her
[i]”la sociedad esta inactiva”[/i].
Costa Rican corporations can be designated as [i]”inactiva”[/i] if they have no economic activity. When you look up your corporation on the Ministry of Hacienda’s website, ahere will be an [i]”active”/”inactive”[/i] designation. It would probably be well to be sure that yours is [i]”inactive”[/i].[/quote]
Hi David – I like your math, but don’t understand how you get that answer. The Inside Costa Rica article today states “Since the payment for 2012 is not a full year, the amount payable for 2012 is ¢135.225 for active and ¢61.612 for inactive corporations.”
Is there a way to reduce that further?
Thanks,
crb[quote=”aguirrewar”]You are bad with numbers and dates the numbers I came with come with the NEWS published.
Why don’t you put a BID for $20,000,000.00 and prove me wrong. At the end of the sale is he making a PROFIT or ending with a LOSS and don’t spin Numbers and ideas, $$ does not have an opinion it is either .99 cents or $1.00 dollar.
The difference is the Dollar has 100 pennies and not 99
[/quote]
You say I am [i]“bad with numbers and dates the numbers I came with come with the NEWS published.”[/i] Fortunately, in this case both the [i]“numbers and dates”[/i] and the [i]“NEWS”[/i] verify exactly what I say and contradict 100% of what you say!
http://costarica-pr.com/mel-gibson.html here is the link when he bought the property. He was 51 then, he is 56 now. Simple math is 5 years have lapsed. 2012 – 5 = 2007, the year he bought the property. Plus, it was well known in 2007-2008 with folks in the Samara area that he had purchased the property. The 2007 date is also mentioned in other web articles.
http://online.wsj.com/article/SB10001424052702304724404577295591605770460.html?mod=googlenews_wsj – this is the link that appears to be the genesis of the original posts on this thread, and the whole problem appears to be the contradiction of the title that “Mel Gibson Sells His Costa Rica property” versus the explanation in the actual article that he has simply “re-listed” the property, reduced his price and selected a new real estate company to market the property. Listing is not selling, re-listing is not selling and we don’t know if “At the end of the sale is he making a PROFIT or ending with a LOSS” until the end of the sale occurs.
It obviously won’t be me, but if, as you say someone puts in [i]“a BID for $20,000,000.00”[/i], then yes, Mel Gibson will loose money [u]if he accepts it.[/u] But of course that is 100% speculation, or in other words [u]your[/u] attempt at spinning the [i]“Numbers and ideas”[/i] and only proves your ignorance relating to real estate transactions – a [i]“BID”[/i] does not create any basis for calculating profit or loss in a real estate transaction. Only when there is
(i) an offer by the purchaser; and
(ii) an ACCEPTANCE by the seller; followed by
(iii) the closing of the transaction; is there
(iv) an established basis for any calculating profit or loss for any purpose, be it for calculations of tax consequences or publicity purposes!The remainder of your post makes no sense at all is not worthy of any response!
[quote=”aguirrewar”]Actor Mel Gibson has relisted his Costa Rica property for $29.8 million.
The private 500-acre beachfront-and-jungle compound first came on the market in 2010 for $35 million.
Located on the Nicoya Peninsula.Let me SEE!!!
35 – 29.8 = a net loss of 5.2 million dollars
and that was back in 2010, today it is 2012 (2 years)
a 5.2 million LOSS in 2 years
I thought Costa Rica was a great place to buy real estate
[/quote]I don’t have a dog in this fight, but I feel compelled to respond when I read blatantly incorrect information on this site – especially when those mistruths may adversely impact people’s impressions about Costa Rica or considerations about living here see and read
Without getting into the argument of whether or not Costa Rica is a good place for real estate investment, let’s at least get some of the facts more accurate, if not totally correct:
The title of this thread should be “Mel Gibson Wants to Sell His Costa Rican Property”, not that he “Sells” his property.
Here is what I understand from a few minutes of research:
$25.8 million – the amount Gibson paid for his 163 hectare Playa Barrigona property in late 2007 (not 2010).
$35.0 million – the amount Gibson originally listed the property for sale in 2010.
$29.75 million – the amount Gibson re-listed the property for recently with Christie’s International Real Estate.
So, did he experience “a 5.2 million LOSS in 2 years”? No, he simply lowered his asking price by 5.2 million dollars.
Has he lost any money on that piece of real estate as of this date? – No!
Will he loose money when he sells the property? – The odds are somewhere between possibly & probably! It all depends on if/when the market gets better and how patient he is in waiting for the market to possibly come back.
Is it “good riddance to bad trash”? – Unfortunately no, he built and still owns a beautiful home near Mal Pais.
Unless you own or buy a similarly priced property with similar characteristics, or you buy the property next door to his property, the sale or non-sale of his Barrigona property at whatever price will have little or no affect on the market value of any property you may decide to buy or sell.
I don’t fit into any of the aforementioned property classifications, so I really don’t care what he sells it for – it’s none of my business. But I do believe that when I have the chance to help get the facts straight, it is my business!
