Taxes
Disclaimer
Tax Considerations for Expats
If you’re living in Spain on a Non-Lucrative Visa, understanding your tax obligations is crucial. Spain has a progressive tax system, and expats must file a Modelo 100 form annually. Here’s a quick example for a retired couple:
Example Tax Calculation
- Combined 401(k): $75,000
- Combined Social Security: $24,500 (85% taxed = $20,825)
- Total Income: $95,825
- Standard Deduction (2024): $29,200
- Taxable Income: $66,625
- U.S. Federal Tax: $7,531
- Spanish Tax (after Double Taxation Treaty): €32,608.75 (~$34,890.56)
- Additional Tax Owed in Spain: $27,359.56
Note:
This example highlights the importance of consulting a tax specialist to ensure compliance and optimize your tax strategy.
Top Expat Tax Experts in Spain
- Alecora Tax & Legal Services
– Services: Tax and legal advice for expats.
– Website: [Alecora](https://accountantsspain.com/)
- Blevins Franks
– Services: Tax planning and compliance for expats.
– Website: [Blevins Franks](https://www.blevinsfranks.com/where-we-are/spain/)
- Malaga Solicitors
– Services: Tax and fiscal advice for expats.
– Website: [Malaga Solicitors](https://www.malagasolicitors.com/tax-fiscal-advice-in-spain/)
Your Real Estate Journey Starts Here
Whether you’re buying a home or securing a long-term rental, Costa del Sol offers endless opportunities for expats. With the right resources and professional support, you can navigate the real estate market with ease.
Stay tuned for more insights, tips, and expert advice on living your best life in Spain!
Disclaimer: The information provided is based on research using Claude AI and Perplexity AI as of December 2024. Always consult a professional for personalized advice.
