Chip, as a financial guy you knew facts were not adding up with the attorney in Rome, I am overjoyed at your tenacity. Mr. Guilizzi is knowledgeable and articulated the information in an easy to understand manner…love it when someone can accurately quote article and paragraph.
Ciao Chip and Christian! Recently had a zoom meeting with Christian regarding taxes as it relates to moving to Italy from US. He was very informative, listened to my unique situation, and gave me a good understanding of the various scenarios I gave him. Thanks Chip for recommending Christian🇮🇹👍
Great conversation. Clearly, taxes in Italy are complicated enough where the average person may not want to make the plunge before looking closely at their individual situation. Personally, I'd be curious to also know a recipe for maximizing my time in Italy while not qualifying as a tax resident to begin with. For example, doing the Schengen shuffle and/or slow traveling.
Chip this post is very helpful for my wife and myself. Now we have a much better understanding of what are tax situation will be once we establish Italian residency.
read article 18 of the France & Italy tax treaty. Social security is only taxed by the country that funds the social security. So, the US would tax US social security and it would not be taxed in either France or Italy. Likewise a SS pension paid by France or Italy would only be taxed by those countries and not the US. Italians nationals living in Italy would be taxed in Italy [ not the US ] on their US SS pension , however these are govt pensions in Italy & not taxed in Italy. The term govt pension is broad and includes social security , not just a disability pension - SSI . Regarding Portugal & Spain. Portugal left out out pensions completely. So these are taxed as ordinary income. Spain originally had the same clauses in their original tax treaty with the US and covered social security pensions back in 1991. However, they got greedy and taxed these pensions, including SS as ordinary income after 2013. The French & Italian treaties cover social security pensions.
Bravo e Grazie - We are the stage where we have moved from CA to WA. New drivers license, car registration, WA physical address. I'm even getting a fishing license. WA is where we will be spending time when we return to the US.
What about healthcare in those 7% regions? Do you travel to Rome for example for healthcare? What about assisted living when the time comes? Can a widow apply who has no living family members?😊
Hello Chip, I would like to stay in Italy after I retire from USA maybe in few years. I just read somewhere that I might qualify for Italian citizenship based on my grandparents’ immigration from Italy. Is that possible? With Dual citizenship status, should I be concerned about paying tax for both countries , USA and Italy?
Dear Aquabo, I don't think so. As we stated above, the tax treaty allows you to avoid paying taxes in two places. I would contact Mr Gulizzi as he can answer your questions better than I. Chip
Chip, as a financial guy you knew facts were not adding up with the attorney in Rome, I am overjoyed at your tenacity. Mr. Guilizzi is knowledgeable and articulated the information in an easy to understand manner…love it when someone can accurately quote article and paragraph.
Very helpful. Thank you for highlighting Christian. He sounds unique for his experience in both US and Italian tax regimes.
Ciao Chip and Christian! Recently had a zoom meeting with Christian regarding taxes as it relates to moving to Italy from US. He was very informative, listened to my unique situation, and gave me a good understanding of the various scenarios I gave him. Thanks Chip for recommending Christian🇮🇹👍
Great interview!
Excellent info! Thank you for having him as your guest!
Great conversation. Clearly, taxes in Italy are complicated enough where the average person may not want to make the plunge before looking closely at their individual situation. Personally, I'd be curious to also know a recipe for maximizing my time in Italy while not qualifying as a tax resident to begin with. For example, doing the Schengen shuffle and/or slow traveling.
Thank you for doing this, this is the clearest I have ever have found, I will be emailing him when I retire and move to Italy.
Chip this post is very helpful for my wife and myself. Now we have a much better understanding of what are tax situation will be once we establish Italian residency.
Thank you Chip for doing all the research to find an expert like Christian, and sharing with us. Much appreciated for your hard work.
Very informative tx for the effort much appreciated
Grazie! Vedere quanto ami l'Italia, mi tocca!
Excellent
I am #1 on rating this video!!!!!!!!!
read article 18 of the France & Italy tax treaty. Social security is only taxed by the country that funds the social security. So, the US would tax US social security and it would not be taxed in either France or Italy. Likewise a SS pension paid by France or Italy would only be taxed by those countries and not the US. Italians nationals living in Italy would be taxed in Italy [ not the US ] on their US SS pension , however these are govt pensions in Italy & not taxed in Italy. The term govt pension is broad and includes social security , not just a disability pension - SSI . Regarding Portugal & Spain. Portugal left out out pensions completely. So these are taxed as ordinary income. Spain originally had the same clauses in their original tax treaty with the US and covered social security pensions back in 1991. However, they got greedy and taxed these pensions, including SS as ordinary income after 2013. The French & Italian treaties cover social security pensions.
Bravo e Grazie - We are the stage where we have moved from CA to WA. New drivers license, car registration, WA physical address. I'm even getting a fishing license. WA is where we will be spending time when we return to the US.
Bill, I am so grlan this is working for you! Chip
What about healthcare in those 7% regions? Do you travel to Rome for example for healthcare? What about assisted living when the time comes? Can a widow apply who has no living family members?😊
Hello Chip, I would like to stay in Italy after I retire from USA maybe in few years. I just read somewhere that I might qualify for Italian citizenship based on my grandparents’ immigration from Italy. Is that possible? With Dual citizenship status, should I be concerned about paying tax for both countries , USA and Italy?
Dear Aquabo, I don't think so. As we stated above, the tax treaty allows you to avoid paying taxes in two places. I would contact Mr Gulizzi as he can answer your questions better than I. Chip
I was under the impression that the 7% tax was good for 10 years and after 10 years it reverts to the 23% tax. This was not mentioned if I am correct?
That's a good question. Also, does the 10 years start from the time the US citizen moves there?
While federal U.S. and Italian taxes can be handled by one person, what about the state and local tax returns?
Chrisitan is a '''CPA and will know what to do or where to do to get it done.... Chip
Please provide the contact information for Christian Gulizzi. Thanks!
His contact details are in the video bio 😁👍
christian.gulizzi@gulizzi-consulting.com
I wonder if a 403b retirement account from a US state university is considered a non-taxable pension in Italy?
I would ask Christian, but think the 403-b with joint monies is considered a private pension, not a public one but i would still ask Chrisitan
I could not find the contact in the site Christian gave. E mail is fine for me
His contact details are in the video bio 😁
christian.gulizzi@gulizzi-consulting.com
Is a school teacher's pension taxable? Is my savings account taxed?
I would ask Christian directly. christian.gulizzi@gulizzi-consulting.com
Italy or bust!