# Looking for tax advisor



## Thomas3857 (Dec 24, 2020)

Hi all - long time lurker looking for recommendations. US citizen looking to move to Spain but really concerned that the tax man will make that dream a nightmare. Have money in tax deferred accounts (IRA, SEP IRÁ, 401K) and taxable accounts (savings, cds, etc) and will have rental income from two unencumbered properties. Wife and I are in our mid-50s and don’t plan on taking SS until age 70. Based upon my calculations we will be subject to wealth tax though I understand that varies depending on region. I don’t know enough about Spanish taxation and need profesional advice. Any recommendations for a tax advisor knowledgeable about both Spain and Portugal? Thanks!


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## Guifig (Jan 7, 2021)

Like you say, it would deeply depend on where in Spain you would settle. As for Portugal, you can benefit from the non-habitual residents regime for a 10-year period. As a general comment, I would say that the Portuguese tax regime (and tax authorities) is more friendly than the Spanish one.


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## Bevdeforges (Nov 16, 2007)

Just a reminder here - you're also on the hook for US taxes no matter where you decide to settle. You need a tax advisor who knows US tax law PLUS the tax treaties between the US and wherever you are planning to take up residence. 

The tax deferred accounts are usually handled in the tax treaty - but which jurisdiction gets to tax the interest and which the withdrawals can vary from one country to the next. If those rentals are in the US, the rental income is usually taxed by the US, with whatever relief from double taxation is allowed by the tax treaty.


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