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2 years ago

Moving to Italy - taxes

2 years ago
Hello everyone!
I’ve done some light reading online but really haven’t found a clear answer so just looking to see if there are others in similar situation.

I do independent contractor work / 1099 remotely in the USA and am looking to relocate to Milan, Italy. My wife is an Italian Citizen and I will be working on getting my citizenship shortly.

My questions are:

1) how the taxation will be handled for me running my own 1099 jobs for US companies while working from Italy.

2) we own a few rental properties in the area. Obviously we write off a lot from that business, how would this be handled / taxed if we lived in Italy

3) we own stocks - if I were to sell some from my brokerage occasionally to fund our lifestyle in Italy, how would this be handled?

4) since we will probably pay more taxes in Italy than the US, I’ve heard that you can apply foreign tax credit to your US taxes and this will carry over, so when we move back to US in several years will I be keeping a lot more of my income because we have a big tax credit with IRS?

Any other general suggestions?

Thanks!

William Russell
William Russell

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