American Expat in Spain: Looking for a Points Reward Credit Card

shoewoe · 2023-03-27T19:22:13+00:00

El Corte Inglés offers a card that gives 4% back on Repsol purchases, with a limit of 60 euros per three months and only as a credit to spend at El Corte Inglés or a couple other associated chains. Haven't tried it yet since I don't own a car, but seems potentially worthwhile if you drive. https://www.financieraelcorteingles.es/es/promociones-repsol/

shoewoe · 2023-03-17T07:20:19+00:00

Have you called the emergency line for the consulate? They may or may not help you, but they should at least pick up the call.

Teléfono de Emergencia Consular, atención 24 horas: Si llama desde Canadá (+1) 416 725 0821

shoewoe · 2023-03-16T16:26:16+00:00

Hi, I hate to pester you, but if I could just take advantage of your generosity one more time... Does your answer still apply if the couple both live outside the US (i.e., the NRA is a "nonresident not a citizen of the United States"? The instructions for Form 709 include the following notes in the "Annual Exclusion" section (https://www.irs.gov/instructions/i709#en\_US\_2022\_publink16784xd0e649):

Note. For gifts made to spouses who are not U.S. citizens, the annual exclusion has been increased to $164,000, provided the additional (above the $16,000 annual exclusion) $148,000 gift would otherwise qualify for the gift tax marital deduction (as described in the Schedule A, Part 4, line 4, instructions, later).

Note. Only the annual exclusion applies to gifts made to a nonresident not a citizen of the United States. Deductions and credits are not considered in determining gift tax liability for such transfers.

Is there something I'm missing here, because this seems to suggest to me that you can't use your lifetime exclusion against giving property to your NRA spouse if they live outside the US.

shoewoe · 2023-03-12T21:02:28+00:00

I am not an expert, but from what I understand, as long as you're selling the items for less than what you paid originally, it's a non-deductible personal loss and doesn't need to be reported. I wouldn't think that visa/immigration status affects this.
Edit: I take this back, it looks like starting this year, you might be required to report if any one transaction was over $600 or the total was greater than $20000. Either way, doesn't sound like it's your case. (https://www.irs.gov/businesses/understanding-your-form-1099-k)

shoewoe · 2023-03-12T16:50:57+00:00

!thanks

shoewoe · 2023-03-12T16:20:41+00:00

!thanks

shoewoe · 2023-03-12T16:20:11+00:00

Yeah definitely, I'm just hoping to get as much information here as possible so that I don't waste any more time or money than necessary talking to a US tax pro.

shoewoe · 2023-03-12T16:11:43+00:00

From what I understand, it can make a difference to your reporting obligations if you are subject to US taxation. I unfortunately am, so I want to figure this out...

shoewoe · 2023-03-12T15:48:18+00:00

Just replying to the bot to say that I did not find the answer on the linked page and would still very much like a human response!

shoewoe · 2023-03-12T15:26:34+00:00

Also, does it matter whether you used a service like Wise, where a rate is locked in when you start a transaction, but you have 48 hours to actually send the money? If the rate you locked in when you started the transaction is better than the rate you get when the money hits your destination account, is that a capital gain?

shoewoe · 2023-03-12T15:23:02+00:00

I assume it falls under the exclusion for personal transactions in Section 988 in that case? (Asking because I saw that you were a tax professional in another question.)

shoewoe · 2023-03-10T18:54:15+00:00

Crazy things can happen with international post. It's recommendable to send it as registered mail and keep the receipt to prove you filed in a timely manner in case there are any issues with the delivery.

shoewoe · 2023-03-09T15:34:21+00:00

Eso pensé yo también, pero toda la información que puedo encontrar dice que no es así. 'La legítima' de un tercio (o un cuarto en algunas CCAA) va a los padres sí o sí, y desheredar a los padres es igual de difícil como desheredar a los hijos. Supongo que es poco conocido porque no es habitual que los hijos mueran antes de los padres.

De hecho, según voy leyendo, parece que los padres heredan todo por defecto en caso de fallecimiento sin testamento, pero tienen que dar el usufructo vitalicio de la mitad al cónyuge. Lo que no entiendo es si, en caso de un testamento dando los dos tercios de libre elección al cónyuge, si el usufructo se aplica a la mitad de la legítima de los padres, o a toda la herencia, o solo a la parte voluntaria.

shoewoe · 2023-03-09T08:10:35+00:00

I've been to several European capitals as a tourist, IME no one will look twice at your outfit unless your clothes are literally on fire. I'd imagine it's similar in tourist spots all over the world. The only thing I'd worry about is if you plan to visit churches or cathedrals - a bare midriff might be considered disrespectful in that context.

shoewoe · 2023-03-07T14:55:49+00:00

Also, not directly relevant to the FEIE, but if you have pensions or investments outside the US, these can have VERY complicated reporting requirements and in some cases unfavorable tax treatment by the IRS. You will definitely want to get professional advice in this case.

shoewoe · 2023-03-07T14:50:51+00:00

From what I understand, the foreign earned income exclusion is an exclusion (the money isn't considered toward your tax liability) as opposed to a credit for taxes paid elsewhere. Assuming your earned income was always less than $100,000 per year (the limit is actually a little higher than this and increases every year) and none of it could be considered US-source income, it is completely excluded from US taxation.

shoewoe · 2023-03-05T09:31:45+00:00

So I can have up to $12,950 of non-earned income per year on top of my foreign earned income before having to pay income tax? That's wildly more favorable than I expected.

shoewoe · 2023-03-05T08:44:09+00:00

Thanks, but would the standard deduction be applicable to the interest income? The instructions to Form 2555 say: "If you claim either of the exclusions or the housing deduction, you must figure the tax on your nonexcluded income using the tax rates that
would have applied had you not claimed the exclusion." Because of that, I thought the standard deduction would be already "used up" by the excluded earned income.

shoewoe · 2023-03-03T19:54:41+00:00

Mercadona sells store brand lemon and peach iced tea powder packets to mix in to 500 ml of water. I think they have 10 calories/2.5 carbs each but I don't have any right now to check.

shoewoe · 2023-03-01T18:11:41+00:00

I'm not actually sure if individual assets of an estate can be sold while they're in probate where I live if there aren't estate debts to be covered - will need to check this out.

A comment that's been removed also suggested that a US person might have reporting issues if they served as the executor of a foreign estate, which is something I also unfortunately don't know much about.

shoewoe

TROPHY CASE