Costa Rica And The US Overseas Retirement Market

For many US baby boomers with nest eggs that have shriveled during the recent financial crisis, an overseas retirement can make financial sense. Once they shift their perspective offshore, the Central American region captures a fair share of attention given its close proximity to the US. There are many connecting flights that travel daily from US airports. Costa Rica attracts more retirees than its neighbors, and here are some of the reasons why.

Costa Rica has been a popular vacation destination for decades, as well as a hot retirement spot. In fact, the country boasts the largest population of US expatriates in the region, so current retirees are following in other US citizens’ footsteps.

Costa Rica is aggressively attracting retirees by launching the first ‘retiree program,’ which offers tax benefits, exemptions, and discounts. Panama, Nicaragua, and Belize have all followed suit, rolling out their own retiree programs, but Costa Rica was the first country to put such a policy in place, actively seeking out retirees.

Costa Rica has long held a tradition of environmental protection, as evidenced by the country’s tourism slogan, “No artificial ingredients.” Tourists aren’t the only ones enjoying Costa Rica’s biodiversity. Retirees also take advantage of the national parks and beautiful landscapes.

Retirees prefer to move to more established parts of the country that provide well-serviced amenities and infrastructure. Costa Rica has a number of well-developed second home and retirement destinations available. The country is sometimes known as “The Switzerland of Central America.” Combine this with a stable democratic government and a diverse economy, and it’s easy to see why investors, tourists, and retirees flock to Costa Rica.

There is also Costa Rica’s lower cost of living to consider. Real estate in Costa Rica is much more affordable than the US. There are other countries that are cheaper, such as Nicaragua real estate for example, but Costa Rica can still provide retirees with a lifestyle they could not afford in the US.

Tax Information For Small Businesses And Self-Employed Individuals

The 2011 Tax season is quickly approaching, and many people are busy getting all of their tax information together so they can file their taxes on time. Business owners face many more challenges at tax time than employees. It is crucial for business owners to have all of the information they need in order to file their taxes, which can be quite a grueling process. In most cases, the law does not require businesses to keep detailed records, but they must be able to supply evidence of all earnings related transactions. Small business owners should keep a record of their sales slips, purchases, receipts, payrolls, paid bills, invoices and any other financial documents. All businesses should employ a qualified bookkeeper or accountant who is able to keep accurate business records throughout the year.

Self-employed individuals must also prepare themselves accordingly before filing their taxes. Most people who work as freelancers do not bother to hire a bookkeeper or accountant. Unless someone knows the ins and outs of taxes, they will need to conduct plenty of research before filing their tax return. For example, there are many tax write offs that need to be considered. A local income tax agency can help a self-employed individual file their income tax return, but the person filing is responsible for providing them with all of the required information. Just like small business owners, self-employed individuals should save all of their financial documents throughout the year.

There is plenty of information for Small Business and Self-Employed Individuals available online. Small business owners and self-employed individuals can find out more information online at the IRS government website. The official IRS website offers information on forms for small businesses, employer ID number applications, social security, Medicare, income tax and more. The IRS website offers helpful articles, videos, virtual workshops and a printable tax calendar. They also offer information on small business tax audits.

Do You Know Your Options For the Tax Season?

Preparing and filing your federal tax return is quite simple with the IRS e-file free tax filing program. The Internal Revenue Service provides this program to help ensure that you can get your taxes done fast and easy. In addition, the IRS E-File is safe, free and ensures that you get the highest refund amount entitled to you.

There are two ways to take advantage of free 2011 tax return filing from the IRS. You can choose to use easy tax software or file electronically online. If you earn less than $58k per year, you are eligible to take advantage of Free File Software.

If you are one of nearly 100 million who are eligible for free 2011 tax filing, you can access the IRS e-file online forms by visiting the government IRS website. Once you begin, you will be assisted in finding free software and after choosing the right one for you, you will then be instructed through the filing process for your 2011 tax forms. The best thing about e-file is that it eliminates the high costs of having a professional complete your tax return and most anyone can successfully file their return online for free without prior tax knowledge. If the government owes you money, such as the EIC, the software will automatically apply your earned income credit to your refund.

Of course, safety and security is always a concern when filling out private information online and the IRS takes this into consideration with Free File. To date, the software has been used both securely and safely by millions of people since the year 2003.

If you are not comfortable doing your 2011 tax return online, there are still options that allow you to mail your tax forms. Although it takes longer to receive a refund when you file by mail, it is still preferred among some tax payers and will likely remain an option when 2012 tax time rolls around as well.