Forums > General > Living, Working, Retiring

chucdoti

Sep 16, 2012, 10:43 AM

Post #1 of 5 (1536 views)

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Social security, pension - Is Retirement income taxed?

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I recently read an article from a seemingly good source on the subject of countries that collect taxes on retirement income and Mexico was in the group that does collect. There wasn't enough detail to determine how much or if there were qualifications that exempted an expat from thoses taxes. Does anyone want to shed light on this subject?

I searched the forums on the subject and the latest I was able to find was in 2009. I'm sure there are updates.
(future expat from USA)

Thanks!

sparks

Sep 16, 2012, 11:46 AM

Post #2 of 5 (1523 views)

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Re: [chucdoti] Social security, pension - Is Retirement income taxed?

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If your income comes from another country ... that's where you pay your taxes, not Mexico.

5:46 AM I made this post?? That's not even GMT. It's actually 1:46PM in most of Mexico

Sparks Mexico - Sparks Costalegre

(This post was edited by sparks on Sep 16, 2012, 11:49 AM)

La Isla

Sep 16, 2012, 12:10 PM

Post #3 of 5 (1513 views)

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Re: [sparks] Social security, pension - Is Retirement income taxed?

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I receive two pensions from the US, one from Social Security and one from a former employer, and I claim this income every year when I file my federal income tax return with the IRS. Since I do work in Mexico, as a free-lance English teacher and translator-editor, I pay taxes here every month on my Mexican income, with the help of a friendly accountant.

chucdoti

Sep 16, 2012, 1:20 PM

Post #4 of 5 (1497 views)

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Re: [La Isla] Social security, pension - Is Retirement income taxed?

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Thanks for the replies! La Isla your example sounds exactly as mine will be when I retire from the US. I'll have my social security and a pension from a previous employer. Of course, I realize all things are fluid and subject to change at any moment! :D

La Isla

Sep 16, 2012, 1:57 PM

Post #5 of 5 (1487 views)

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Re: [chucdoti] Social security, pension - Is Retirement income taxed?

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You're welcome! Things aren't that fluid, keeping in mind how long it takes to change anything at the federal level of government. I would just assume that things will stay the way they are into the foreseeable future, and if they change, then we'll just deal with it.