dennislg
American citizen
Forum posts
32
About me
American
Speaks English, a little Spanish, basic-level German
Registration: 15 July 2020
Roth IRA or Roth 401k taxation by Erichsisol
Hi all US expats and Tax accountants! I'm a US and as well as EU citizen (non-Spain) living in US and planning to retire in Spain. I have researched a lot online and YouTube videos but I could not find any concrete reliable information about ...
This article provides a list of some of the regions that have wealth tax. https://balcellsgroup.com/wealth-tax-in-spain/ FYI, there is no wealth tax for Madrid. Read More
Taxes in retirement for Americans by Erichsisol
hi there, I'm planing to retire in Spain (around Barcelona) but the main concern are taxes. I did online research but found incomplete or confusing information about taxation in retirement. Here is my info: I'm US and also Slovakia-EU ...
What's clear is that you will have to file tax returns to both US and Spain. Since residents of Spain are taxed on worldwide income which include pension distributions, Spain may want you to pay the taxes to them. If that happens, you can ... Read More
鈥淒ual Citizenship鈥� with USA & Spain by JonSidd
Hi! I鈥檓 new to the site (excited to be here) and have an important question about obtaining Spanish citizenship/renouncing my U.S. citizenship. My mother is Spanish (her entire family is from and still live in Jerez) and I鈥檝e always ...
Regarding #1, see my post on "01 October 2020 16:34:13". The info I provided is from the US State Department's site. You only lose your US citizenship if you tell the US directly. Telling someone else doesn't make it so. Read More
DUAL NATIONALITY in SPAIN (for US natives)...RENOUNCE US Citizenship?! by nj_bcn
So, I just reached the final step in the 6-year process of being approved for Spanish nationality. I was filling out the online form to attend the "sworn oath" and when I reached the last of 4 steps, the button that says something like "I renounce ...
The following is the US position on dual citizenship/retaining US citizenship. You can only renounce your US citizenship if you tell the US directly. See excerpts below. Administrative Presumption of Intent to Retain U.S. Citizenship 鈥he ... Read More
Cost of Living in Portugal in 2021 by Cheryl
Hello everybody, We would like to take stock of the changing cost of living in Portugal, particularly in your city or region. The aim is to measure the impact that the health crisis may have had on your expenses. This will help other expatriates ...
My understanding with the practice or custom of renting or buying a home in Portugal is that it is assumed by the rental property owner or seller of the home that the renter/buyer will haggle with the price. Thus the advertised price is always ... Read More
Private Healthcare System in Portugal by JohnnyPT
In addition to the National Healthcare System: /forum/viewtopic.php?id=902977 you also have the option of the [b]Private Healthcare System (PHS)[/b]. Each Insurance Company provides its Health Insurance solutions by targeting ...
If one buys a non-worldwide private insurance (e.g. from Medis) and one needs medical attention in another EU country (e.g. Spain, France), will the person be covered? Read More
State Pension - United States by npc8219
Hi, I recently became a new member to expat.com. There's a lot of great information on here. I tried to get this question answered by searching the forums, but I don't think I found what I was looking for. I will be eligible for a state ...
Here is the exact text regarding Double Taxation between the US and Portugal at the IRS website. See Article 25 titled "Relief from Double Taxation". 2. In the case of an individual who is a citizen of the United States and a resident of ... Read More
鈥淒ual Citizenship鈥� with USA & Spain by JonSidd
Hi! I鈥檓 new to the site (excited to be here) and have an important question about obtaining Spanish citizenship/renouncing my U.S. citizenship. My mother is Spanish (her entire family is from and still live in Jerez) and I鈥檝e always ...
That question was never asked. Also, it was only a 1 hour session. So, even if they answered it, they will only be able to provide a general response. As with taxes, it always depend on how much one has, where income is coming from, etc. ... Read More
State Pension - United States by npc8219
Hi, I recently became a new member to expat.com. There's a lot of great information on here. I tried to get this question answered by searching the forums, but I don't think I found what I was looking for. I will be eligible for a state ...
The 10% tax applies to all foreign pensions for individuals residing in Portugal regardless of citizenship. There is a double taxation treaty between the US and Portugal though. Whatever you pay the US IRS can be deducted from the tax you owe ... Read More
income tax on Social Security benefits earned in USA. by furnitureman
Hello, My urgent question is for older USA expats who have retired to/in Portugal on residency visa. We plan to relocate to Braga and not work. we are retired . Can anyone please tell us for sure if Portugal will tax our USA-earned Social Security ...
I found the exact text regarding Double Taxation between the US and Portugal at the IRS website. See Article 25 titled "Relief from Double Taxation". 2. In the case of an individual who is a citizen of the United States and a resident of ... Read More
income tax on Social Security benefits earned in USA. by furnitureman
Hello, My urgent question is for older USA expats who have retired to/in Portugal on residency visa. We plan to relocate to Braga and not work. we are retired . Can anyone please tell us for sure if Portugal will tax our USA-earned Social Security ...
The webinar JohnnyPT mentioned should be a good one to attend. This is scheduled for Nov. 2. I attended their webinar for Spain yesterday. They had both a US and Spanish accountants in the Zoom call. The US accountant explains/provides context ... Read More
Taxes in retirement for Americans by Erichsisol
hi there, I'm planing to retire in Spain (around Barcelona) but the main concern are taxes. I did online research but found incomplete or confusing information about taxation in retirement. Here is my info: I'm US and also Slovakia-EU ...
I attended a webinar on US/Spain Taxes for Expats today. 1) 401k and IRA assets are included in the calculation of the wealth tax. Each region has their own allowance which may or may not affect your tax burden. Per my previous research, Madrid ... Read More
鈥淒ual Citizenship鈥� with USA & Spain by JonSidd
Hi! I鈥檓 new to the site (excited to be here) and have an important question about obtaining Spanish citizenship/renouncing my U.S. citizenship. My mother is Spanish (her entire family is from and still live in Jerez) and I鈥檝e always ...
I attended a webinar by Moore's Rowland on US/Spain Tax for Expats today and it confirms what bocheball is saying. The Spanish lawyer explained the difference between how US and Spain taxes. US taxes based on citizenship. That means, wherever ... Read More
income tax on Social Security benefits earned in USA. by furnitureman
Hello, My urgent question is for older USA expats who have retired to/in Portugal on residency visa. We plan to relocate to Braga and not work. we are retired . Can anyone please tell us for sure if Portugal will tax our USA-earned Social Security ...
Decisions to relocate is usually a combination of financial and non-financial reasons. And even with financial reasons alone, one must look at all the cost, cost avoidance, etc. As mentioned previously, depending on your Adjusted Gross Income ... Read More
income tax on Social Security benefits earned in USA. by furnitureman
Hello, My urgent question is for older USA expats who have retired to/in Portugal on residency visa. We plan to relocate to Braga and not work. we are retired . Can anyone please tell us for sure if Portugal will tax our USA-earned Social Security ...
There was a time when US social security benefits were not taxed. That changed in 1984 when the US started classifying them as taxable income as part of the Amendment of 1983. Read More
Taxation by Grennellking
Hi I hope to move to Portugal next year 2020 when I will be 69 years and am an Irish citizen I would appreciate information on non habitual residency and on any agency or reliable accountant that might be able to help me. I have a state ...
The double tax treaty between the US and Portugal provide stipulation that both sides can collect. You'll see text like "However, such interest may also be taxed in the Contracting State in which it arises". You can read this at the ... Read More
income tax on Social Security benefits earned in USA. by furnitureman
Hello, My urgent question is for older USA expats who have retired to/in Portugal on residency visa. We plan to relocate to Braga and not work. we are retired . Can anyone please tell us for sure if Portugal will tax our USA-earned Social Security ...
Michael, I'm not sure why your accountant is saying you will not owe taxes for a $43,000 (joint filer) social security benefit. You may want to show him/her this info from SSA's website. It may be possible that s/he found some deductions ... Read More
income tax on Social Security benefits earned in USA. by furnitureman
Hello, My urgent question is for older USA expats who have retired to/in Portugal on residency visa. We plan to relocate to Braga and not work. we are retired . Can anyone please tell us for sure if Portugal will tax our USA-earned Social Security ...
This whole discussion made me curious why PT decided to tax foreign source pensions. It turns out, PT's tax treaty with some countries (e.g. UK, Finland, Sweden), gives PT the taxing rights to those countries' pensions. And since they are ... Read More
income tax on Social Security benefits earned in USA. by furnitureman
Hello, My urgent question is for older USA expats who have retired to/in Portugal on residency visa. We plan to relocate to Braga and not work. we are retired . Can anyone please tell us for sure if Portugal will tax our USA-earned Social Security ...
Michael, don't forget that you also have to pay the US taxes on your social security distributions to the US IRS. Maybe not all of it. Depending on your income for that year it could be up to 85% of it. But the taxes that you will have to pay ... Read More
income tax on Social Security benefits earned in USA. by furnitureman
Hello, My urgent question is for older USA expats who have retired to/in Portugal on residency visa. We plan to relocate to Braga and not work. we are retired . Can anyone please tell us for sure if Portugal will tax our USA-earned Social Security ...
Does this mean that Portugal will tax the interest income and dividends in our 401k and IRA? The US doesn't tax this until the money is taken out. Read More
鈥淒ual Citizenship鈥� with USA & Spain by JonSidd
Hi! I鈥檓 new to the site (excited to be here) and have an important question about obtaining Spanish citizenship/renouncing my U.S. citizenship. My mother is Spanish (her entire family is from and still live in Jerez) and I鈥檝e always ...
The one thing you may need to look into is taxation. Both US and Spain taxes worldwide income. In addition, Spain has a wealth tax and inheritance tax you may want to look into. This varies depending on which autonomous region in Spain you ... Read More
鈥淒ual Citizenship鈥� with USA & Spain by JonSidd
Hi! I鈥檓 new to the site (excited to be here) and have an important question about obtaining Spanish citizenship/renouncing my U.S. citizenship. My mother is Spanish (her entire family is from and still live in Jerez) and I鈥檝e always ...
You only lose your US citizenship when you tell the US directly that you are renouncing your citizenship. Below is the information from the US State Department. Below are excerpts from it. Administrative Presumption of Intent to Retain U.S. ... Read More
Taxes in retirement for Americans by Erichsisol
hi there, I'm planing to retire in Spain (around Barcelona) but the main concern are taxes. I did online research but found incomplete or confusing information about taxation in retirement. Here is my info: I'm US and also Slovakia-EU ...
When you said "private retirement", are you referring to 401k and IRA? When you said "income" from this private retirement, are you referring to the distribution or withdrawals from the 401k and IRA? Is it correct to assume ... Read More
Documents Required for D-7 Visa to Bring for Consulate Interview by dennislg
As I understand, there are several documents that one must bring to the interview which are listed in VFS Global's site https://www.vfsglobal.com/Portugal/USA/residency-permit.html. Two of them are somewhat confusing. These are, - Transport ...
Thanks Johnny and Gail for the information you provided. This is most helpful. I found 1 company called Visa Reservations (i'm sure there are many others), and they do provide a way to reserve flights (instead of purchasing them immediately) ... Read More
Documents Required for D-7 Visa to Bring for Consulate Interview
As I understand, there are several documents that one must bring to the interview which are listed in VFS Global's site https://www.vfsglobal.com/Portugal/USA/residency-permit.html. Two of them are somewhat confusing. These are, - Transport ... Read More
Taxes in retirement for Americans by Erichsisol
hi there, I'm planing to retire in Spain (around Barcelona) but the main concern are taxes. I did online research but found incomplete or confusing information about taxation in retirement. Here is my info: I'm US and also Slovakia-EU ...
@Erichsisol - When considering a region, if you are concerned with taxes, consider the implication of wealth and inheritance taxes. These, apparently, are set per autonomous region. Below are 2 articles that you may find useful. Inheritance Tax - ... Read More
Taxes in retirement for Americans by Erichsisol
hi there, I'm planing to retire in Spain (around Barcelona) but the main concern are taxes. I did online research but found incomplete or confusing information about taxation in retirement. Here is my info: I'm US and also Slovakia-EU ...
I'm interested in this topic as well. From what i understand, Spain taxes worldwide income. Are the distributions from US social security, 401k considered income. The US taxes them after all. Will Spain tax these? Regarding Spanish wealth ... Read More
What US citizen needs to do to get Spanish residency ? by BShargor123
I am a US citizen and I don鈥檛 have EU residency. What steps do I need to take to move to Spain and obtain Spanish residency ? I see a lot of British citizens moving to Spain but they have EU residency which I don鈥檛. All help will be very ...
I meant to write "Spain's former colonies". For some reason, the site won't allow me to edit my post. Read More
What US citizen needs to do to get Spanish residency ? by BShargor123
I am a US citizen and I don鈥檛 have EU residency. What steps do I need to take to move to Spain and obtain Spanish residency ? I see a lot of British citizens moving to Spain but they have EU residency which I don鈥檛. All help will be very ...
Just to disclose, I haven't moved to Spain and haven't gone through the process yet (US to Spain). But I have done some research. Contacting the Spanish Consulate (e.g. Chicago, Boston, etc.) closest to your home is a good thing because Spain's ... Read More