Planning Your Move to Italy: U.S. Expat Life, Taxes, and Family Insights
In this episode of Passport to Wealth™, host Arielle Tucker, CFP®, EA sits down with Alex Ingrim, CEO of Liberty Atlantic Advisors, to discuss what life in Italy really looks like for U.S. expats. With years of experience as a cross-border financial advisor, and firsthand knowledge as an American living in Tuscany, Alex brings clarity to the opportunities and challenges of building a life abroad.
From navigating Italy’s tax system to adjusting to its slower lifestyle, Alex shares insights every aspiring expat should hear before making the leap.
From North America to Europe to Italy
Alex and his family didn’t land in Italy overnight. Their international journey spanned Canada, the U.K., France, and Malta before finally settling in Florence, where his wife’s Italian heritage and their children’s schooling made Italy the right long-term fit.
“Italy felt like the right final resting place for our family: somewhere slower, rooted in culture, and connected to my wife’s family,” Alex explained.
What Life in Italy Really Looks Like
When many Americans picture Italian life, food and culture take center stage. But Alex says the reality is often more nuanced:
- Regional cuisine matters: Tuscan life, for example, is much more meat-heavy than the pasta-and-pizza image Americans often imagine.
- Family time is sacred: Weekends aren’t for work... they’re for family. Children gain independence earlier, too, biking to school or riding the bus solo by age 13.
- Work and money aren’t the centerpiece: Unlike in the U.S., conversations rarely revolve around careers or finances.
“Life here feels a lot like raising kids in 90s America. It’s slower, less digital noise, and far more intentional.”
Italian Finances: What U.S. Expats Need to Know
As a financial advisor, Alex helps U.S. expats bridge the gap between American and Italian financial systems. He warns that the biggest mistakes Americans make are tax-related:
- False assumptions: Many assume U.S. retirement income like Social Security or IRA distributions won’t be taxed in Italy. That’s not true.
- Overestimating wealth tax: While Italy does levy wealth tax, it often has less financial impact than people fear.
“DIY tax planning is where people get into trouble,” Alex explained. “These aren’t logical systems so assumptions often lead to costly surprises.”
Italian Tax Incentives for Expats
Italy also offers several unique tax regimes that may benefit expats:
- 7% flat tax for retirees: Available in southern Italy (including Sardinia and Sicily) for those with foreign pensions.
- 50% income exemption: For those relocating to Italy for work, providing a substantial tax reduction for five years.
- With top Italian tax rates reaching 43% on income above €50,000, planning ahead is essential.
Retirement and Social Security
Italy and the U.S. share a unique totalization agreement, meaning self-employed Americans in Italy may still contribute to U.S. Social Security. This often creates planning opportunities.
“U.S. Social Security is actually more generous for what you put in compared to Italy’s system,” Alex noted. “But each case is different that's why planning ahead matters.”
Alex’s Advice for Aspiring Expats
Alex’s biggest tip? Don’t rush.
“Take your time to plan the move, and give yourself at least two years to decide if it’s right for you. That first year can be tough, but if you push through, you might find you never want to leave.”
Connect with Our Guest
Learn more about Alex’s work with U.S. expats in Italy and across Europe at Liberty Atlantic Advisors.
You can also connected with him on LinkedIn.
More About Our Author
Arielle Tucker, CFP®, EA, is the founder of Connected Financial Planning and the host of Passport to Wealth™. As a Certified Financial Planner™ and Enrolled Agent, Arielle specializes in helping U.S. expats simplify their finances while building intentional, global lives.
With firsthand experience navigating cross-border living, tax complexity, and international relocation, Arielle provides thoughtful, personalized guidance for individuals and families living abroad. Whether you're planning a move, managing multi-country income, or just trying to make sense of your financial future, she’s here to help you do it with clarity and confidence.
👉 To book a 1-1 Expat Expert Coaching Call with Arielle, visit: Passport to Wealth | Contact.