Financial implications
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Hi there! My name is Harvey and my wife's name is Jackie. We are considering a move to Portugal from the US. We are hoping to find some expats who can answer questions that we have regarding what happens with taxes paid in the US and Portugal on income derived in the US... i.e. pensions, social security and rental income. Anyone who may be willing to chat with us, please respond with how we can do so. Thanks!!
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The short answer is the US and Portugal ( along with other countries ) have a cooperative tax agreement whereby only one entity will tax us. As a U.S. citizen our IRS gets first dibs on taxation so you don't gat double taxed. There are lots of reports available in the IL site providing details on tons of subjects.
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If you're looking for some more detailed information on moving to Portugal, our "Escape to Portugal Guide" should have all the answers you need. IL members can find it here: https://members.internationalliving.com/escape-to-portugal-everything-you-need-to-know-to-retire-better-invest-well-and-enjoy-the-good-life-for-less/
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