The “One Big Beautiful Bill” - What It Means for Americans in Portugal

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In this webinar, John McNertney, CFP®, Managing Partner at Green Ocean Global Advisors, LLC reviewed the most important provisions of “The Big Beautiful Bill” and how it affects Americans in Portugal.

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Some of the relevant issues that were addressed include:

• The impact of making the Trump-Era Tax Cuts permanent, such as the continued Qualified Business Income (QBI) deduction and the cap on mortgage interest deductions
• Revisions to State and Local Tax (SALT) deductions
• The provision reducing tax on Social Security benefits
• Introduction of a Remittance Tax: a 1% levy on cross-border cash transfers, affecting both U.S. citizens and immigrants who send money overseas
• The indefinite extension of the current Estate Tax exemption limit
• The potential for retaliatory international tax measures

We hope you enjoy!