Expert: Edison - 8/18/2009

Question
I am an American who married a Brazilian national in new York. We bought a house in Brazil and rent it. I do have a CPF. The house is in both our names. How much income can we make before legally having to report income to the Brazilian govt.? We visit 2 weeks a year and have a real estate agent taking care of things. My wife has a checking account in town, we used to have auto debt paying when we just rented for holidays. We now rent full time. any advice to other articles that would help us would be appreciated. Obrigado, Michael

Answer
Hello Michael,

I am not an expert in this subject. Check these sources for tax information:

1. Contact the Brazilian consulate in New York: http://www.brazilny.org/
2. Consult the Receita Federal site (in Portuguese): http://www.receita.fazenda.gov.br/
3. Contact an accountant in Brazil (your spouse's family probably knows somebody)

Please also check your tax accountant in US to verify if you need also to pay taxes here.

Good luck!

Edison