Learning about the expat taxes and obligations might seem like a headache, but if you’re planning to move to Portugal, then it becomes mandatory for you to get your head around the Portuguese complicated tax system. Knowing your expat tax obligation in Portugal in advance is a wise move as it may help you make an informed decision. However, expat tax isn’t something that you can learn in one day without having the base knowledge, and if you’re getting your career biggest opportunity, hiring a professional US tax service for Americans in Portugal is your ideal bet to make your experience memorable and enriching.
Before you land in Portugal, you must be well-versed with certain basic US expat tax obligations to plan your move and do the necessary transactions accordingly. For better assistance, you need to seek the consultation of an experienced US tax Preparer in Portugal to know about the process of filing Portugal taxes as a US expat.
Are you liable to pay taxes in Portugal?
The answer to this generic question depends on your residency status, i.e.
- If you are a resident of Portugal
- If you are not a resident of Portugal
The residency status of a US expat is determined by the time you spend living and working in Portugal. However, you will only be considered a resident of Portugal if you successfully meet all of its qualifications. Once you are categorized as a resident, you must then pay taxes on any income that you earn anywhere. On the other hand, if you are not considered to be a resident of Portugal, then you need to seek the expertise of US tax consultants in Portugal to evaluate taxes on the income that you earned from sources in Portugal. In addition, getting the back support of an experienced US tax Preparer in Portugal will ensure that you are not double-taxed in anyways.
Moreover, the tax consultants will do their best to make you eligible to get the credits when determining your overall tax liability.
Helps In Filing Your Income Tax Return In Portugal
A US tax consultation has in-depth knowledge of the Portugal tax system, right from Portuguese tax years (1st January to 31st December) to the documentation work. Evaluating the amount of income tax you have to pay in Portugal is a tedious task to overcome, and getting the help of a professional US tax service for Americans in Portugal is the most reliable way to overcome the tax-filing complications with no technical hassle. The best part is US tax preparation service provider in Portugal helps you get legally eligible for deductions and exclusions to offset your tax liability.
Filing a tax return while complying with a Portugal complicated taxation system can be complicated. Thus, before packing your luggage and head off to Portugal, don’t forget to know about your expat tax obligations from your hired tax consultant in Portugal.