AlexCLE

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About AlexCLE

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Profile Information

  • Location Stuttgart
  • Nationality American
  • Hometown Cleveland
  • Gender Male
  • Year of birth 1982
  • Interests Working on cars, racing, woodwork, metalwork/fabrication, cycling, camping, family stuff.

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  1. I'm looking for a MIG welder that runs on 220V. I have a cheap LUX Tools right now and it's pretty bad. I can't tell what would be a "good" brand here. I had a 180 amp Lincoln Electric in the US that was really great. Any suggestions?
  2. Wives are great for this. I was secretly hoping you went through with it because I think it would make a great adventure story.   I bought a foreclosed house in the US and there was a fair amount of running around to get all the documents in place. I wouldn't try to do it in Germany if I couldn't be on site.
  3. We got ours yesterday and I deposited with the Chase app. Yes, DT's name was on it.
  4. Rental income calculation

    When calculating depreciation, is only the value of the building used? How do I find out what this is? In the Grundbuch? Is it calculated with the purchase price in mind, or is it just a valuation made by the government?
  5. Deduction of mortgage payments

    Ok, that makes sense. So would this calculation be correct for taxable income and actual profit? Kind of a bummer to pay the tax because my plan is to save the profit to pay for capital expenses down the line like a roof, paving, etc. Kaufpreis € 1,000,000   2% davon (Abschreibung) € 20,000   Kapitalzahlung p.a. € 27,000   Zinszahlung p.a. € 16,000   Mieteinnahmen p.a. € 60,000   Kosten p.a. € 10,000         steuerpflichtiges Einkommen € 14,000 (=Mieteinnahmen - Abschreibung - Zinszahlung - Kosten) tatsächlicher Gewinn € 7,000 (=Mieteinnahmen - Kapitalzahlung - Zinszahlung - Kosten)
  6. I did the (Xstrasse 3) way.
  7. Deduction of mortgage payments

    I'm trying to understand how rental/real estate income is taxed. If, for example, I have: +70k€ rental income -50k€ mortgage payment -20k€ depreciation (2% of purchase price)   Is my net taxable income then 0€ (70k-50k-20k) or 50k€ (70k-20k)? Or is only the interest part of the mortgage deductible? Does it depend on if I own the property as a company vs. as a private person? This would not be my primary residence.
  8. I just tried the IRS website and was able to get my status. I entered my German street address but left the zip code field blank. They will be mailing me a check in a few days.
  9. Topics merged by admin   Have any of you American expats received this yet? I get an error when checking the status. I file US taxes but since I haven't received a refund in the last years they don't have my direct deposit account information. I'm not sure how to proceed.
  10. I'm currently working with a broker on a commercial mortgage (they're a middle man working with several banks). He mentioned that having my Niederlassungserlaubnis is very beneficial for approval but made no mention of restrictions because I'm a US citizen. Maybe try these guys: https://www.okfinanz.eu/ They are in Stuttgart but maybe work nation-wide.
  11. Taxation on real estate investment

    I'm looking at buying a commercial property as an investment and wonder if it's more advantageous to do it as a German or US company. Eventually I'll go over this with an accountant or lawyer but wanted to see if someone has personal experience. If I do it as a German company I would like to keep the profits in the company for future reinvestment so I don't exceed the US's foreign earned income exclusion since I still file taxes there.   By the way, would anyone in real estate like to set up a chat sometime? I'd be curious to meet others that are doing this.
  12. The parking lots I'm finding in Mitte just list hourly rates, around 4€/hr. So is it 24x4€ per day?? Or are there some more reasonable options for multi-day parking?
  13. buying a commercial property

    When buying a commercial property like an office building, what are the requirements for inspections and code compliance? Is the new owner required to bring the property up to current building code? Is the Bauamt responsible for enforcing this and to get more information?