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Showing results for tags 'taxes'.
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There is currently a fundraiser for the fight to end US citizen based taxation, which has made it very hard for Americans to open bank accounts in Germany and around the world: https://www.gofundme.com/f/fight-citizenship-based-taxation The fundraiser is organized by Fabien Lehagre, who is the President of the Association of Accidental Americans (a group in France that represents people who, for example, were born in the US but moved away when they were very young and have no connection to the US, but are still affected by the citizenship based taxation that the US unfortunately has. I found out about this on the Facebook Forum called "American Expatriates for Residency Based Taxation (RBT)": https://www.facebook.com/groups/AmericanExpatriates It's a very useful forum for those affected by things like FATCA, FBAR, IRS tax filing while living abroad etc.
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Hello there, For reasons out of my control, I was living in Germany for a few years without paying taxes. I was also not paying the mandatory health insurance. I'm not about to move countries, and I would like to do the famous "abmeldung". My questions: - If I do it, is there any chance that the tax authorities ask for paying taxes for all the months were I didn't? - And, if I come back in the future and I do an anmeldung again, will the tax authorities ask me to pay those taxes where I was registered here? Thank you for your help! :-)
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So, surprised this hasn't been discussed yet, unless I missed it, but I got the following letter from Expat Tax. It says that you will get a letter in the post but I haven't seen anything yet. Well other than 4 copies of my current assesment along with several letters explaining about property tax reform, but to be honest it made no sense to me. For sure nothing that I have to fill out. Has anyone else gotten a letter? Dear Client, If you own property in Germany, you are required to file a tax return for Property Tax purposes in 2022. This is OUTSIDE of a normal annual income tax return and must be submitted separately and much earlier. Here are the main points, you need to know: If you own property IN Germany, you need to report (foreign property is not relevant) It is not relevant whether you are resident in Germany or not You need to report the ownership of ALL properties in Germany (if you own your own home, a holiday home or if you own an investment property) All types of property owned by you need to be reported (residential, commercial, developed or undeveloped, farming land, etc.) The relevant date for this purpose is 1.1.2022 (Did you own a property in Germany on that date?) The purpose of this one-off reporting is a re-evaluation of land and buildings. In most cases, this will result in a rather small adjustment of Property Tax upwards OR downwards (this is indeed possible) Adjusted payments as a result of this submission, will only kick in as of the tax year 2025 The tax office is supposed to contact each property owner DIRECTLY, starting in April 2022. They will do this in paper format and will not use any existing Power of Attorney for this purpose (for technical reasons they can’t). Correspondence will go to the address of the property owner, not the address of the property itself (unless of course, this is identical). We have reason to believe, that such correspondence will be delayed in a number of cases, particularly if it goes to individuals outside of the country. This is the reason, why we are contacting you now. These tax submissions need to go in between July 1st and October 31st 2022 in order to avoid late filing penalties. It is an extremely tight deadline, considering that a total of 36 million properties need to be reported at a national level. If you feel, you need assistance in this context, please do contact your personal consultant at EXPATTAX directly to discuss. We have put together a service package for this purpose, which we are of course happy to send out to you if you are interested. Please note: In order to meet the deadline and avoid late filing penalties, we need the complete set of information from you by July 31st, 2022. This may seem like a very long time, but please do try to address the matter as soon as you can. We will send you a checklist to show you, which details and documents are needed. They are somewhat different from what you are used to in the context of your normal yearly tax filing. So, getting everything organized can sometimes take a good bit of extra time.
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Hello everyone, I'm actually living in Germany for 8+ years and I already got the German citizenship few days ago. The next steps are that we would like to move to Uruguay, maybe temporarily, maybe permanently.. we don't know yet.. My idea is to keep my actual job but as a freelancer but I'm not yet sure if that is even possible from my company to work from Uruguay, I work 100% remotely but here in Germany, but outside EU is another story.. so I'm thinking in the following options: - Try to arrange with my boss to work as freelancer remotely from Uruguay so I don't have anything attached to the company or the country (taxes, Krankenkasse, etc) - Do the Anmeldung in a friend's home and remain my contract like it is and work from Uruguay (not really sure if that is even possible due to the Steuerklärung, Krankenkasse, etc) By the way, do you have a clue what is the impact is being Angemeldet in a friend's house while living abroad? (regardless if I have a job contract in Germany or not) Can I impact her while she does the Steuerklärung for having another person registered in her home or something like that and vice versa? Any hint is very much appreciated! Cheers.
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Confused about new German foreign investment rules regarding US Traditional IRA
tevako88 posted a topic in Finance
I'm a US citizen living in Germany and still confused with the foreign investment rule changes as of 2018. I have a traditional IRA account from the US with 2 funds VGT and PRDSX, do I have to declare these funds on my German tax return and be taxed on re-invested dividends/unrealized capital gains? I am not of retirement age and not withdrawing. Any help would much appreciated! -
Hi all, I am thinking of purchasing my first apartment and my boyfriend may live with me in it. Since he will be paying 'rent' to me, I think it would constitute a sublet (even though we might share the whole apartment 50/50). I was wondering, since I might add the income from sublet to my taxes, if I could also deduct the purchase costs and maintenance costs (50% of course) from my taxes. Thank you!