How Retirees Are Taxed in Portugal (Social Security, IRA, and more)

Email Kalie at info@expatseverywhere.com to set up a consultation with Fresh Portugal. Kalie from ExpatsEverywhere sits down with Rebecca from Fresh Portugal to discuss taxes in Portugal. They take a look at how those who are retired will have to navigate Portuguese taxes. What do IRAs, social security, 401ks, and more look like when it comes to taxes in Portugal? 🌏 ABOUT US Hi! We’re Josh and Kalie, expats since 2009. We’ve lived in Spain, South Korea, Saudi Arabia, Singapore, and now Portugal (we know, we broke the “S” streak 😅). Follow ExpatsEverywhere for expat interviews, city breakdowns, travel tips, and more to help you live your best life abroad! 👌 USEFUL RESOURCES Take the hassle out of expat life with these trusted services. 💸 Transfer Cash Wise (formerly TransferWise): Get free transfer fees with this link. https://bit.ly/4hfN8Rh Spartan FX: Speak to a person for money transfers here. https://bit.ly/4gVdzfh 🔒 Digital Security Aura: Free trial for identity theft protection here. https://aura.com/expatseverywhere 📲 GET IN TOUCH Questions? Email us at info@expatseverywhere.com or explore our website. https://expatseverywhere.com Follow us Facebook: @expatseverywhere Instagram: @expatseverywhere X: @expert_expat Patreon: Support us https://www.patreon.com/c/expatseverywhere Follow Kalie's white-glove service: https://www.instagram.com/kalie_slateandkey Chapters 00:12 - IF SOMEONE HAS SOCIAL SECURITY FROM THE U.S., WHAT ARE THE TAX IMPLICATIONS HERE IN PORTUGAL? 02:42 - IS IT USEFUL FOR PEOPLE TO GIVE THEIR NIF AT PLACES LIKE GROCERY STORES? 03:30 - IF SOMEONE IS ONLY RECEIVING SOCIAL SECURITY AND PAYING TAXES ON IT, DO THEY PAY SMALL AMOUNTS THROUGHOUT THE YEAR, OR IS IT PAID ALL AT ONCE ANNUALLY? 05:16 - WHAT ABOUT OTHER TYPES OF RETIREMENT INCOME, SUCH AS A 401(K)? HOW ARE THOSE TREATED FORTAX PURPOSES IN PORTUGAL? 07:27 - CAN A TAX PROFESSIONAL REVIEW THEIR FILING AND COMPARE IT WITH OTHER POSSIBLE APPROACHES TO SEE IF THEIR TAXES COULD BE LOWER THIS COMING YEAR? 08:14 - WHAT ABOUT U.S. GOVERNMENT PENSIONS, INCLUDING MILITARY PENSIONS? IF SOMEONE RECEIVES ONE WHILE LIVING IN PORTUGAL, HOW IS THAT TREATED FOR TAX PURPOSES? 08:58 - ARE U.S. STATE AND FEDERAL GOVERNMENT PENSIONS TREATED DIFFERENTLY FOR TAX PURPOSES IN PORTUGAL? 09:50 - DO YOU STILL HAVE TO FILE A TAX RETURN, EVEN IF YOU KNOW YOU WON'T OWE ANY TAX?