๐ ๐๐จ๐ฐ ๐๐ฆ๐๐ซ๐ญ ๐๐๐ฑ ๐๐ฅ๐๐ง๐ง๐ข๐ง๐ ๐๐๐ฏ๐ ๐๐ฎ๐ซ ๐.๐. ๐๐ฑ๐ฉ๐๐ญ ๐๐ฅ๐ข๐๐ง๐ญ ๐ ๐
๐ซ๐๐ ๐๐๐๐๐ญ๐ข๐จ๐ง ๐ญ๐จ ๐ญ๐ก๐ ๐๐๐ โ๏ธ๐ธ
๐๐ข๐ฏ ๐ข ๐ด๐ฎ๐ข๐ณ๐ต ๐ต๐ข๐น ๐ด๐ต๐ณ๐ข๐ต๐ฆ๐จ๐บ ๐ง๐ถ๐ฏ๐ฅ ๐บ๐ฐ๐ถ๐ณ ๐ฏ๐ฆ๐น๐ต ๐ช๐ฏ๐ต๐ฆ๐ณ๐ฏ๐ข๐ต๐ช๐ฐ๐ฏ๐ข๐ญ ๐ฉ๐ฐ๐ญ๐ช๐ฅ๐ข๐บ?
Thatโs exactly what happened when we helped a U.S. citizen working remotely from Spain take full advantage of the ๐๐๐๐ค๐ก๐๐ฆ ๐๐๐ฐ and ๐.๐. ๐๐ฑ๐ฉ๐๐ญ ๐ญ๐๐ฑ ๐ซ๐๐ฅ๐ข๐๐ ๐ฉ๐ซ๐จ๐ฏ๐ข๐ฌ๐ข๐จ๐ง๐ฌ.
โ ๏ธ ๐๐ก๐ ๐๐ก๐๐ฅ๐ฅ๐๐ง๐ ๐: ๐๐จ๐ฎ๐๐ฅ๐ ๐๐๐ฑ๐๐ญ๐ข๐จ๐ง ๐๐ฎ๐ซ๐ฉ๐ซ๐ข๐ฌ๐
Even after relocating abroad, U.S. citizens must still file, and potentially pay, ๐ญ๐๐ฑ๐๐ฌ ๐จ๐ง ๐ญ๐ก๐๐ข๐ซ ๐ฐ๐จ๐ซ๐ฅ๐๐ฐ๐ข๐๐ ๐ข๐ง๐๐จ๐ฆ๐. Combine that with Spanish taxes, and itโs a recipe for overpayingโฆ unless you plan smart. ๐ก
๐ฏ ๐๐ก๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง
Hereโs how we helped our client unlock thousands in savings – while staying fully compliant in both countries:
๐น๐๐ฉ๐๐ข๐งโ๐ฌ ๐๐๐๐ค๐ก๐๐ฆ ๐๐๐ฐ ๐๐๐ฏ๐๐ง๐ญ๐๐ ๐
– Flat 24% ๐ญ๐๐ฑ on Spanish-earned income (vs up to 47%)
– ๐๐จ ๐๐ฉ๐๐ง๐ข๐ฌ๐ก ๐ญ๐๐ฑ on U.S. (or other foreign) income and assets
– Locked in for up to 6 ๐ฒ๐๐๐ซ๐ฌ
๐น ๐.๐. ๐๐๐ฑ ๐๐ฉ๐ญ๐ข๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง
– ๐
๐จ๐ซ๐ฆ 2555 (๐
๐๐๐): Excluded up to $126,500 (2024) of foreign salary.
– ๐
๐จ๐ซ๐ฆ 1116 (๐
๐๐): Claimed credit for Spanish taxes paid.
– ๐๐จ๐ฆ๐ ๐๐๐ฅ๐ ๐๐๐ฑ ๐๐๐ฅ๐ข๐๐: Used ๐๐๐๐ญ๐ข๐จ๐ง 121 to exempt capital gains on U.S. home sale.
๐ฅ ๐๐๐ฌ๐ฎ๐ฅ๐ญ: Their total U.S. tax liability dropped to nearly ๐ณ๐๐ซ๐จ.
๐๏ธ ๐๐ก๐ ๐๐ฆ๐ฉ๐๐๐ญ: ๐๐ง๐ ๐
๐ซ๐๐ ๐๐๐๐๐ญ๐ข๐จ๐ง, ๐๐๐ซ๐จ ๐๐ญ๐ซ๐๐ฌ๐ฌ
With effective tax planning:
– They saved thousands
– Took a family vacation to the UAE
– Remained 100% compliant in both the U.S. and Spain
๐ ๐๐๐ฅ๐ฅ๐ข๐ง๐ ๐๐ฅ๐ฅ ๐.๐. & ๐๐ง๐๐ข๐๐ง ๐๐ฑ๐ฉ๐๐ญ๐ฌ, ๐๐๐ฌ ๐๐ง๐ ๐๐๐๐ฌ
Whether you’re an expat or a ๐๐ก๐๐ซ๐ญ๐๐ซ๐๐ ๐๐๐๐จ๐ฎ๐ง๐ญ๐๐ง๐ญ (๐๐) or ๐๐๐ซ๐ญ๐ข๐๐ข๐๐ ๐๐ฎ๐๐ฅ๐ข๐ ๐๐๐๐จ๐ฎ๐ง๐ญ๐๐ง๐ญ (๐๐๐) supporting global clients, our team at NishQuo Consulting helps you:
– Minimize taxes legally
– Stay compliant across borders
– Turn complexity into clarity, and savings
๐ ๐ญ๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐-๐๐๐๐๐
๐๐๐๐ & ๐๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐
๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐.
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