In the last several months much has been written about the implications of the Tax Cuts and Jobs Act (TCJA). For owners of flowthrough entities (including sole proprietorships, partnerships, and S corporations) and indivduals, most of the commentary has focused on the new 20% deduction available for qualified business income (Sec. 199A). Of course, theRead more about US Tax Reform – The New GILTI Tax Regime[…]
Day: July 26, 2018
Tax Compliance on Luxury Taxes
Properties and homes that are only used for the enjoyment of the owners and guests that are not held out as a rental property may be subject to an additional tax on the value of the property – Impuestos de Lujo or luxury tax. The luxury tax is based on the declared value of theRead more about Tax Compliance on Luxury Taxes[…]
Tax Compliance on Costa Rican Rentals
In Costa Rica, residential rental activity is subject to taxation. Depending on the nature of the rental, it may be subject to sales tax, income tax or both. All short-term rentals are subject to sales and income taxes, The definition of a short-term rental is still a bit unclear from an amount of time orRead more about Tax Compliance on Costa Rican Rentals[…]