FATCA implementation may be delayed again. Let's hope we get a Christmas present of yet another delay to some of the worst legislation ever created. Here is a little blurb from the nice folks at Forbes:
Will FATCA Ever Go Into Effect? - Forbes
http://news.google.com Thu, 12 Dec 2013 15:42:10 GMT
But this is an aside. The real reason I am writing this is because it's near the end of the year and even though Christmas is upon us, you need to know a little something for planning purposes. A number of times I've been presented with tax situations that have been complicated by the fact that the US citizen involved owns 10% (or more) of a company, whether it's an S.A., Sp.A., Limitada or other. Ten percent seems to be a magic number in several different ways and I'd like to point out that you will save yourself a lot of trouble if you only own 9.99% instead. Tax law and regulations seem to look for 10% over and over again. If you want specifics, subscribe to my free update service. I'll be explaining things in more detail with my next broadcast.
