Nancy, your three important points are the clearest explanation I've seen yet of the relationship of taxes between the US and Portugal. We'll still have to consult the lawyers and accountants, but going in with a solid general understanding will make the process easier, if not less palatable. Thanks for doing the research.
Mike, I checked the Financas website today and our NHR has been granted (Deferido). Regarding taxes and consulting someone, a lot of people and Expat organizations recommend AFM (All Financial Matters). I spoke to them for free a few months back and they were quickly able to assess our situation and confirm NHR was the right thing for us. You may wish to call them about your situation. I suspect they will also be filing our Portuguese taxes for us.
I think you ll find your US tax info is off the mark.
You need to add federal and state taxes and then.. whoops. Its close to "normal" and in some states more than 45%. How do I know? My US colleagues showed me the numbers.
Nancy, your three important points are the clearest explanation I've seen yet of the relationship of taxes between the US and Portugal. We'll still have to consult the lawyers and accountants, but going in with a solid general understanding will make the process easier, if not less palatable. Thanks for doing the research.
Mike, I checked the Financas website today and our NHR has been granted (Deferido). Regarding taxes and consulting someone, a lot of people and Expat organizations recommend AFM (All Financial Matters). I spoke to them for free a few months back and they were quickly able to assess our situation and confirm NHR was the right thing for us. You may wish to call them about your situation. I suspect they will also be filing our Portuguese taxes for us.
Thanks for the tip about AFM.
I think you ll find your US tax info is off the mark.
You need to add federal and state taxes and then.. whoops. Its close to "normal" and in some states more than 45%. How do I know? My US colleagues showed me the numbers.
I respectfully disagree the article compares the total tax bull, not just federal.