MovedHere

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About MovedHere

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  • Location Chemnitz
  • Nationality USA
  • Gender Male
  • Year of birth
  1. Help with divorce questions, my lawyer can't seem to answer.

    Why should he share the finances as long as he shares equal expenses in the house?
  2. Taxation on real estate investment

    Does Germany take into account losses from a real estate investment in USA and can they be adjusted against my other incomes? 
  3.   I can do away with the single member LLC. It doesn't have a lot of income now but the partnership is my business where I sell products on amazon only in US. Most of the work happens in Pakistan and I'm not an active partner. I own 50% of this.
  4. Does that mean there really are no definitive answers here? You don't get taxed in US because its a pass through entity and you don't get taxed here either if you don't tell them about it lol?
  5. So that's the total profit of my single member owned LLC. US does not tax it so I show it in my personal income here in Germany and then pay tax here in germany?
  6. In worse case scenario, I will pay tax on 5000 profit. Can't be more complicated than that?
  7.   So I would have to hire a german tax advisor to get a definitive answer? I must not be alone here. There would be plenty of people who move from US to Germany?
  8. My apologies. I'm pretty new to German taxes. Just moved here.    Both the Single Member LLC (100% owned by me) and LLC (Partnership 50% owned by me) elected to be treated as pass through entities. They are not treated as corporations. They will not be taxed in US.   Let me know if you need more info.
  9. Recently moved to Germany (2020) and I'm wondering how will Germany Tax 2 US LLCs I'm part of.   1- Single Member Delaware LLC (100% owned by me) IRS Treats it as disregarded entity. I had a profit of $5000 here. 2- Two Member Delaware LLC (50% owned by me) IRS treats it as partnership. I had a loss of $10,000 here. Total loss was 20,000. 10,000 was my share of loss.   How will germany tax both LLCs?  I have searched the forum but there doesn't seem to be a clear answer here? Will german tax authorities not take the loss in account and only tax me on profit? paging @PandaMunich and @Straightpoop here.   My US Tax lawyer said that you will report single member LLC income on your personal german tax return and taking advantage of DTA, will take profit/losses to German Tax authorities. Thank you for your guidance.  
  10. Buying a new car Need your advice

    Thank you so much everyone for your advice. I'm thinking to hire a mechanic to check the car. I hate the depreciation on cars but would still love to drive a good car and these two looked like great deals.   Generally speaking, if you are buying from a showroom and not from a private seller you still need to recheck mileage and everything? I thought these issues mostly happened with private sale?
  11. After months of research, I have selected two cars which I like. I'm unable to understand why the kilometers on odometer are so low?   Am I being scammed here or what? If I check all the service history and TUV reports, is that a confirmation that everything is good?   https://suchen.mobile.de/fahrzeuge/details.html?action=parkItem&id=304736244  04/2016 Registration, only 10K KMs? https://suchen.mobile.de/fahrzeuge/details.html?action=parkItem&id=305064589 11/2017 Registration, 18K KMs   Thank you for your help everything
  12. Hi, I recently moved to Germany and have a full time job with Provincial government. My wife is a house wife and is not working at the moment.   I'm wondering if I buy a property and rent it out, can losses from that property (damages, renovation etc) be tax deductible from my full time income?   Or these losses will be carried over and can only be offset against rental income?   Thanks
  13. Is this How Health Treatment Works in Germany?

    I wonder how does appointment system for specialists work? Do I always have to take an appointment or I can just walk in a specialist office and wait for checkup?
  14. Is this How Health Treatment Works in Germany?

    Thank you so much. This is very helpful :)