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I think you guys are way, way off base. Actually, it’s a late-breaking ad by the Romney campaign showing how the privileged few will be lifted yet further while the majority are left behind to grovel in the mire. The substance on Lady Gaga’s front is caviar which she can afford to squander. The substance on the black man is a mix of his own sweat and the dust he’s been left in.
[quote=”camby”][quote=”watchdog”]There are some offshore business income exemptions which exist for U.S. Citizens for income (approx. $90,000.00 U.S. annual income) [/quote]
is that up to 90K or 90K and above? will look into article, was wondering if someone had the Cliff Notes and for life of me, cannot 😆 get a hold of Mitt Romney…:roll::D[/quote]
The “foreign earned income exemption” is just that, an exemption from U.S. income taxes for income [u]which is derived from [b]actual work[/b][/u]. The exemption increases a bit every year. Right now, it’s around $93,000US. That is, the first $93,000+/- you earn from actual work performed outside the U.S. can be exempted from U.S. income tax. You must still report the income to IRS with your annual income tax return and you must complete the forms required to claim the exemption.
[b]BUT[/b] [b]it is critical to understand[/b] that the exemption only applies to income derived from your own work. [b]It does not apply[/b] to rents, dividends, interest, profits from business activity or sales, or other forms of income that do not involve your own work.
[quote=”rxmurphy”][quote=”DavidCMurray”][b]So if you own a restaurant, for example, you can schedule workers and assign duties, but you cannot open up, you cannot close, you cannot cook or bus tables, etc.
[/quote][/b]
Sounds like the perfect job for me David! If only I could paid for that.[/quote]My (admittedly limited) understanding of the restaurant business is that if you want to make a million dollars, you have to start with two.
Longtime WLCR.com Forum participants know that I [b]AM[/b] the cat. The bearded dude is just there to provide someplace to perch.
[quote=”ddspell12″]I’m a little confused. If I have my direct deposit going to my bank in US but living Costa Rica will I still be able to access funds from my account using ATM’s?[/quote]
Victoria is correct. You will be able to withdraw funds from your U.S. account via Costa Rican ATMs. Just be certain to tell your U.S. bank that you will be using the ATMs here so you don’t get snarled up in their security system.
I don’t think [i]jackin[/i] has it quite right above. The two banks into which Social Security payments can be made here in Costa Rica are [i]Banco Nacional de Costa Rica[/i] and [i]Banco de Costa Rica[/i]. In either case, there is a $6.00US monthly charge for the service.
Nothing “happens” if you keep your U.S. bank or credit union account and have your SS payments directly deposited there. You just have to figure out how you’re going to move funds from there to spend here in Costa Rica.
When we arranged direct deposit of our SS payments to Banco Nacional here, there was no interruption of service. There is a monthly cutoff date. If you get your request in before that, the change will take place with the next payment; otherwise, it’ll be a month later but the regular payment will go to your U.S. financial institution in the meantime.
Buying an existing business or establishing a new one in Costa Rica involves many legal and bureaucratic hurdles. And once those are jumped, there is still the matter of earning a living at it.
Remember, until one is a legal Permanent Resident (which can easily take five years to achieve), one cannot work in any capacity in competition with a Costa Rican. Even as the owner of a business, you can direct the work of others, but you cannot work in the business yourself. So if you own a restaurant, for example, you can schedule workers and assign duties, but you cannot open up, you cannot close, you cannot cook or bus tables, etc.
I’ve been asked which island Costa Rica is more than once. When I’ve replied that it’s between Nicaragua to the north and Panama to the south, the reply has been, “Where’s that?”
Your best bet would be B&B Grecia which you can Google. It’s right in downtown and convenient to everything.
A couple of things . . .
First, when I was investigating all this in 2005, I was told consistently that if the airline’s own weather forecasting predicted a temperature of 85 degrees F at any point along the route then they would not fly a live animal except in the passenger cabin. So if your itinerary includes a layover, not only must the temperature be less than 85 when the animal begins and ends its journey but it must be less than 85 anywhere that it will land along the way.
Second, we had similar concerns about our dog’s safety en route and I looked into chartering a flight. I could never find anything in the $12,000 range. The cheapest deal I could find ($25,000) was for a twin-engine six-seat propeller-driven plane which would have had to refuel in Havana. The trip was projected to take about twenty-two hours in the air. And since the likelihood of finding someone who wanted a charter back to the U.S. from Costa Rica is virtually zero, we’d have had to pay for a round trip.
We opted instead to fly Max, our Labrador, via Animals Away! whose business is flying pets all over the world. It certainly wasn’t cheap, but it was a lot cheaper than a charter flight. And he came through just fine.
Peter, I’m not current on Whirlpool’s very high-end front loaders and so cannot comment, but if you’re satisfied with a top loader, you don’t have to break the bank. It seems like the model I’ve tried to describe goes for around $350 in the States. Of course, it’ll be more here. Just remember to look for that “extra rinse” option.
Whirlpool has been selling a very reliable top-loading washer here and in the U.S. for decades. Don’t buy the absolute bottom end model. Look for one with the extra rinse option.
We had one of these washers for twenty-five years in Michigan ’til I fell in love with a Maytag front loader which I could buy on the cheap. The Whirlpool had one repair in all that time.
We now have another of the Whirlpools which we bought here six years ago. You put the soap in, turn on the water, spin the knob, add the laundry and forget about it. It’s been perfect. If I had it to do again, I’d buy another one.
After I retired, I sold appliances for the now defunct Circuit City. We took back a fair number of GEs and the bottom-end Frigidaire top loaders. Just can’t see why not to buy that Whirlpool.
BTW, around 2000, Maytag bought Amana and blended the two into one product line. Then Whirlpool bought Maytag. Our appliance repair guy said recently that it may say “Maytag” on the outside but it’s Whirlpool on the inside. Just can’t see why not to buy that Whirlpool.
In Grecia and elsewhere, Importadora Monge sells Whirlpool. Dunno about Gallo, Casa Blanca, Play, (maybe) Walmart and others.
If it’s any comfort to you (and it may not be), we got involved in a deal with HSBC in which their teller disbursed more money than she should have. The security video was pretty clear in showing what had happened, but it took quite a while for their security guy to get around to dealing with the matter. So maybe there’s hope.
Johnny Hidalgo was the repairman for La Artistica for years when they were Costa Rica’s only Maytag dealer. Since they’re out of the business, Johnny’s been working independently. He’s worked for us and for friends here in Grecia several times and he works on all U.S. appliance brands at least.
Johnny is based in Heredia but travels around the Central Valley. He has access to many repair parts but must order some. His English is pretty good and his prices are fair and reasonable.
You can reach him at:
8818-2210 or
2244-6325 or
He’s usually pretty busy, so you may have to be patient.
