By CAPosts 22 January, 2021 - 06:30pm 34 views
If you rent a property, it is necessary that you comply with certain obligations before the tax authority.
© Provided by The Taxpayer Viviendas
If you are a landlord —that is, if you have income from renting a property— you have to fulfill certain obligations before the Service of Tax Administration (SAT) .
Below we list which are those obligations that you have to fulfill.
1. Register in the RFC
To register in the RFC you have two options: do it in person or in the SAT portal .
From the portal SAT: Click on the "START" button on the page. Fill in the data in the electronic form called "Registration to the RFC". Send your procedure to the SAT and print the assigned folio number. Go with the corresponding documentation to the nearby SAT office. Deliver the documentation to the tax authority that will attend your process. Receive request and acknowledgment of registration to the RFC . In person: Go to the SAT offices by appointment, as well as with the corresponding documentation. Deliver the documentation to the tax authority that will attend your process. Receive the single acknowledgment of registration in the federal taxpayer registry. Necessary documentation Have a unique population registration code (CURP) or: Personal identity card in the case of minors who do not have CURP. Letter of naturalization as appropriate, either original or certified copy. In the case of foreigners, the current immigration document, either original or certified copy. Proof of tax address . Power of attorney for administrative, domain or special acts in the case of legal representation, or power of attorney signed before two witnesses and the signatures ratified before the tax authorities or before a notary public. Valid official identification of the taxpayer or legal representative. Acknowledgment of pre-registration in the RFC, if you started the process through the SAT portal. 2. Keep your information up to date with the RFC
If you make any changes to your information, such as a change of address, you will have to submit a notice to the RFC to update your information.
If you are a natural person and want to make your change, go to the next league . Have your RFC and password at hand.
You will also have to increase or decrease your obligations in case you change your economic activity or modify any obligation, such as filing returns or changing their periodicity.
To present the notice of update of obligations and economic activities enter this league . You need to have your RFC and password.
3. Keep your accounting
Individuals who rent real estate are not required to keep their accounting, as they can choose to apply the blind deduction of 35% of the income obtained by leasing. The corresponding income tax (ISR) tables and rates are applied to the remaining 65%
However, if you want to do it on your own, since you can make deductions of more than 35%, you have the option of keeping the accounting Through the My Accounts application, with which you can apply the deductions for expenses that are strictly essential for your economic activity, such as wages and salaries, payment of IMSS fees, services and leasing.
4. Issue the rental CFDI
The lessors They have the obligation to issue tax receipts when they receive the income amounts. The property's property account must be registered in these. It is important to know that, if a landlord does not comply with these obligations, in addition to being able to generate conflicts with the tax authority, in case of reaching a lawsuit where it seeks to force the tenant to pay overdue rents, they must prove that they have issued the corresponding CFDI.
5. Request tax receipts
To deduct expenses related to the properties that are rented, such as improvements or repairs, it is necessary to request the pertinent fiscal receipts.
6. File the
returns At this point you must pay special attention, since it is necessary to make several declarations: Provisional
They are made by concept of ISR. They can be done monthly or quarterly, but for the latter it is necessary that the monthly income does not exceed 26 thousand 411.52 pesos. Definitive
They are made by concept of the value added tax (VAT). The monthly payment of the tax must be made, in case a commercial premises or a furnished house is rented
If the previous fiscal year the taxpayer did not have income of more than 4 million pesos, he is relieved from filing the return informative of operations with third parties (DIOT) and to send their electronic accounting Annual
This reports the total amount of income, expenses and withholdings for the year, as well as the monthly provisional payments made. It is presented no later than April 3 of the year following each fiscal year.
You must present them in case of receiving other cash income in national currency, gold or silver whose value is equal to or greater than 100,000 pesos. Also if you have workers to whom you have made payments for wages and salaries, and to whom you made payments for employment subsidies. The latter is only applicable for fiscal years 2016 and prior
With information from the SAT .
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The entry How to give you registered as a landlord with the SAT? first posted in Contributor .