Client, a native of Mexico, now U S Citizen for about 30 yrs and lives in Tx. wants to start a business in Mexico buying and selling oil field equipment. He will spend about 3 or 4 months a year in Mexico.
He wants to buy a small office bldg. in Mexico so that while he is there, he will have an office to work out of and a bed to sleep in.
The rest of the time he will work out of his office in Texas.
Would the office bldg. in Mexico be 100% depreciable and all related expenses deductible? Or a portion or none?
Without the office bldg. the client would have to rent an apartment while there and use that as an office.
Any help will be appreciated.
He wants to buy a small office bldg. in Mexico so that while he is there, he will have an office to work out of and a bed to sleep in.
The rest of the time he will work out of his office in Texas.
Would the office bldg. in Mexico be 100% depreciable and all related expenses deductible? Or a portion or none?
Without the office bldg. the client would have to rent an apartment while there and use that as an office.
Any help will be appreciated.