Thursday, August 30, 2012

Land's End Historical Perspective

Here is a little historical perspective on Land's End in San Lucas. The first image is from 1852. The view is looking NW as depicted on the postcard. The water looks like it was rough that day....
The second image is a photo taken in the early 70's from about the same perspective.

Thursday, August 16, 2012

Rain!! There's rain in Los Cabos!

With apologies to our visitors who have come to enjoy the beautiful sunshine of los Cabos,

IT"S RAINING!!!!  Woo Woo!!!

We haven't had a nice rain like this in what seems like years. Actually, I think it really has been years! The photo above shows slight flooding near the estuary in Santa Rosa.  It was taken by a friend in San Jose del Cabo. Earlier, this same area burned pretty well.

The rain puts us out of our daily patterns a bit but the long term benefits far outweigh the temporary inconveniences. The ranchers' cows can quit eating store-bought hay and enjoy fresh greens right in their own back yard.  Oh, you're a vegetarian.  Never mind.  But just think, now you know where your house leaks and can fix the leaks before the next rain!!  Right, you said that last time and your wife is mad again. Sorry. Well then, there's the pretty factor:  Our whole countryside will be be blazingly green in days. Your next guests will be amazed at the beauty of our area and want to return soon. What's that? You hope they never come back? Alrighty then, just enjoy the rain: It's not often we get this much rain without the side effect of 100 mph winds!

Sunday, August 12, 2012

Attention Home Owners With Fideiocomisos

This was just published in the Baja Pony Express newsletter. If you have a fideiocomiso, it may pertain to you.

a.  IRS ruling on fideicomisos - I am attaching the IRS ruling that Amy Jetel, a lawyer in Austin, TX, received last week. I had written a notice in the Baja Western Onion about it a month or so ago. It's a private letter ruling, meaning that only the taxpayer to whom it was addressed may cite it as authority in a court case. As a practical matter, an IRS agent is unlikely to contest it in a case involving another taxpayer. It will be published on the IRS website in a month or so.
*** Editor's Note: Link to copy of ruling in PDF

It's important because it means U.S. holders of fideicomisos are not required to file forms 3520 and 3520A. - John,
b.  This is the notice that was posted a month ago:  Early this spring, Amy Jetel, a partner with the Morgan Adler Buxton Jetel law firm in Austin, Texas, requested a ruling from the Dept. of the Treasury that a fideicomiso is not a foreign trust that requires a taxpayer to file forms 3520 and 3520A. The Treasury advised Amy last week that it intends to rule in her favor. Amy expects to receive the written ruling by the end of the month. It may be a month or more after that before personal information is redacted and the ruling published.
     If the ruling is published as a Private Letter Ruling, as is more likely, it only binds the IRS with respect to the taxpayer who obtained the ruling. If published as a Revenue Ruling, it binds the IRS with respect to all taxpayers. As a practical matter, it is unlikely that the IRS will take an adverse position to a Private Letter Ruling issued by the Treasury.
     If you want your own ruling, you can reach Amy at 512-370-2750. The process is not inexpensive.
I have no connection, financial or otherwise, with Amy. John