This thread has been incredibly eye-opening! As someone considering a similar move (dual US/EU citizen looking at relocating for family reasons), I had no idea about the complexity of inheritance tax implications that were just discussed. One thing I wanted to add based on my research: make sure you understand Spain's "imputed income" rules for foreign assets. Even if you don't sell investments or receive dividends, Spain can impute a minimum return on your foreign financial assets and tax you on that deemed income. This is separate from wealth tax and can create tax liability even when you haven't actually received any income from those assets. Also, regarding the banking challenges mentioned earlier - consider opening your Spanish accounts before you move and while you're still primarily US-resident. Some people have found it easier to establish banking relationships during short visits rather than trying to do everything after becoming a Spanish resident. The documentation everyone's recommending is crucial, but don't forget to keep records of your Spanish expenses and local ties too. Things like local gym memberships, Spanish mobile phone contracts, and regular purchases can help demonstrate genuine residence versus just being a "tax tourist." Has anyone dealt with how Spanish authorities view US retirement accounts like 401(k)s and IRAs? I've heard conflicting information about whether these are treated as transparent for Spanish tax purposes or if there are special rules that apply.

This has been an incredibly informative thread! I'm in a somewhat similar situation as a dual US/Canadian citizen considering a move to Spain, and reading through all these responses has really highlighted how complex international tax planning can be. One aspect I haven't seen mentioned yet is the potential impact on your US Social Security benefits. If you become a Spanish tax resident, you'll need to understand how Spain taxes US Social Security payments (they're generally taxable in Spain) and whether you can claim treaty benefits. This becomes especially important if you're planning to retire in Spain eventually. Also, don't forget about state-level considerations beyond just establishing non-residency. Some US states have "throwback" rules for trust income or other complex provisions that could affect you even after you move abroad. Since you mentioned you're currently in Texas, you're probably in good shape, but it's worth confirming with a professional. The banking advice about opening accounts before you move is spot-on. I'd also suggest researching Spanish mortgage rules if you ever plan to buy property there. Spanish banks often have very different lending criteria for foreign income, and your US employment situation might not qualify for traditional Spanish mortgages. Has anyone dealt with Spanish tax treatment of US stock options or RSUs? With tech companies often using equity compensation, this could be another complication for the original poster's situation. This thread really demonstrates why international tax planning requires specialized expertise - there are so many interconnected issues that most general tax preparers wouldn't even know to ask about!

In case it helps anyone, I found this explanation on Wheaton Precious Metals' investor FAQ page that specifically addresses taxation. It confirms they're a corporation and dividends/capital gains are taxed accordingly. They even mention that their non-direct exposure to physical metals is one reason some investors prefer them over physical gold or ETFs.

Just wanted to add that the distinction between these investment types becomes really important when you're doing tax-loss harvesting. Since royalty stocks like WPM are taxed as regular stocks, you can harvest losses against other stock gains at the more favorable capital gains rates. But if you're holding physical gold or gold ETFs that are taxed as collectibles, those losses can only offset collectible gains first before being applied to regular capital gains. This is something I learned the hard way when I was trying to optimize my tax situation last year. I had losses on some gold ETFs that I couldn't use as efficiently as I thought because of the collectible classification. The streaming stocks give you much more flexibility for tax planning strategies.

I've been using Venmo for direct deposits for a while now and haven't had major issues, but definitely echo what others said about checking your limits. One thing I learned the hard way - make sure you enable the "Direct Deposit" feature in your Venmo settings first. It's not automatically on even if your account is verified. Also, keep screenshots of your routing/account info just in case you need to reference it later. The IRS customer service can verify if they have the right info on file if you're worried about it.

Just want to add another perspective here - I've done Venmo direct deposit for my refund twice now and it's worked great both times. One year was about $2800 and last year was $4200, no issues with freezing or limits. The key things that helped me: 1) Made sure my legal name on my tax return exactly matched what's on my Venmo account, 2) Double and triple checked those routing/account numbers, and 3) Like others mentioned, had the direct deposit feature enabled beforehand. The money showed up in my Venmo balance within the same timeframe the IRS estimated. Just be ready to transfer it out to a real bank account pretty quickly if you want to use it for bigger purchases since not everywhere takes Venmo directly!

Great question about the Series I bonds strategy! One additional consideration for your situation - since you're a financial advisor, you might want to think about how having significant business assets in I bonds could impact your professional liability insurance or regulatory requirements. Some compliance frameworks have specific rules about where business funds can be invested. Also, regarding the tax efficiency piece - you might consider timing the dissolution strategically. If you expect to be in a lower tax bracket in a future year (perhaps due to retirement or reduced income), it could make sense to delay the dissolution until then, especially given that any accumulated interest and potential capital gains will flow through to your personal return. One more thought on the payroll tax question - while the interest income and capital gains from liquidation won't be subject to self-employment tax, make sure you're current on reasonable compensation requirements for S corp owners who work in the business. The IRS scrutinizes this closely for service-based S corporations like financial advisory practices.

One approach to consider is distributing some of the accumulated cash to yourself before closing the S corp, rather than waiting until final dissolution. Since you've already paid taxes on the retained earnings through your K-1s over the years, distributions up to your basis would be tax-free to you personally. This could be particularly strategic if you're planning to invest in I bonds anyway - you could take distributions now, invest in I bonds personally, and reduce the amount of assets that need to be liquidated when you eventually close the business. The interest on personally-owned I bonds would still be taxable to you, but you'd avoid the complexity of having investment assets tied up in the corporate dissolution process. Just make sure to track your basis carefully and consider whether maintaining some cash reserves in the business is still prudent for operational needs. You might also want to model out the tax impact of different distribution timing scenarios, especially if your income varies significantly from year to year in your advisory practice.

anybody know if AOTC is better than the Lifetime Learning Credit? my tax guy said AOTC is usually better but depends on your situation

Just wanted to add a few key points that might help others in similar situations: 1. The AOTC requires you to be enrolled at least half-time in a degree program, while the Tuition and Fees Deduction doesn't have this requirement. 2. If you receive a refund from your school for any reason (dropped classes, etc.), you need to reduce your qualified expenses by that amount or potentially pay back part of the credit. 3. Keep ALL your receipts and documentation - not just the 1098-T. The IRS can audit education credits, and you'll need proof of what you actually paid and when. 4. If you're planning to continue school beyond 4 years total (including any previous colleges), start thinking about whether to save some AOTC eligibility for later years when your expenses might be higher. With your income level and being in year 3, the AOTC is definitely your best bet. Just make sure you're tracking everything properly for future years!