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Found 6 results

  1. I apologize if this specific question has been asked already, but I can't seem to find it:    2020 was my first full year living in Germany with income. My tax situation is quite complicated, as I have income from work within Germany, as well as some from work in the US, and some investment related income due to a roth rollover. I have reached out to a tax accountant in Germany in February who said they are working on preparing my German tax declaration, but when I have reached out now asking for an approximate timeline, I haven't heard anything back. I'm going to try calling again this week.    Anyway, my question: According to google, my deadline to file my US return is June 15 (2 mo. extension). First question: Is this "extension" automatic? How do they know I am abroad, or is it simply based on the information I provide when I file the return in that 2-month period?    Second question: I was originally planning to wait for my German declaration to be filed and then file US taxes later, hoping to use the credits to reduce or eliminate my US tax obligation. Based on how long it is taking the accountant, I suspect I may need to just move ahead with the US tax return. How does this work, so that I avoid double taxation? Should I inform the accountant I will pay my US taxes and then let her know how much I paid, so that it can be considered before the German declaration is filed?    Thanks in advance for any information. 
  2. Dear All,   I have a German citizenship, and have been studying / working here for the last several years. At some point, I've decided to move to Portugal where my girlfriend is also is.     My questions are following:  1) I am employed with a large organization (which I am about to quit), working online during last 4.5 years. The notice period is 3 months, but I believe I'd have to negotiate it down to officially spend less than 6 months in Berlin. Afterwards I'd like to apply for ALG (60% of net salary) related to reallocation and change of residency.  2) I've made some capital gains in February (25% already collected by trading broker). Assuming I move away to Portugal now, can I claim them back (since for 2021 I am tax liable towards Portugal, not Germany)? And if yes, when shall I do so - now with broker, or in 2022 with tax declaration (FA Germany)?   3) Most important - how to make Abmeldung properly? I am not in Germany, and will prefer to do it by post if possible. Any hints on the forms to submit? 4) I still have a rental contract in Berlin, and would like to keep the place on my name (Ferienwohnung) which I can visit for a couple of months per year. Is there a way German FA can make a trouble out of it?  5) What are the 'hidden' things to watch while making sure I am properly 'abgemeldet' from Germany? Shall I terminate mobile phone line, internet and electricity contract as well, or is it not obligatory (to be honest it's a time investment assuming I have a few flats in Berlin, which I'll rent out of course officially).     What's really important for me is that for 2021 I am the tax resident outside of Germany for tax reasons (and after checking a few places in the EU, Portugal appeared as a first choice to me - I am here since December already and love it).     Thank you in advance big time! 
  3. Hello,    I hope someone can help me solve the following case:   Let's say I have received as income 100 coins of a cryptocurrency called AAA.  At the time of receiving those 100 coins, the rate was: 1 AAA = 5 EUR.   I don't plan to sell the 100 AAA, but I still need to declare the corresponding amount of EUR as income in my tax report, which would be: 100 x 5 = 500 EUR.   However, the coin AAA has low liquidity, and after estimating how much I would have earned from selling all the 100 AAA they day I received them, I would have only made 50 EUR in return.    My question is what should I then declare in my tax report?   1. 500 EUR of income, given that exchanges pointed to the highest price of: 1 AAA = 5 EUR, or 2. 50 EUR of income, given that the liquidity forced an average/real price of: 1 AAA = 0.5 EUR.   Thanks in advance.  
  4. Independent contractor

    Hello, I work as an online English teacher on a platform that teaches adults conversational English in other countries. I work from home via webcam and set my own hours. I am confused as to how I go about paying taxes. I do not have a employment contract as a normal job would have and get paid via PayPal. I keep records of all of my “paychecks” but I don’t know how to file taxes. I don’t believe I am a freelancer because my income is from one source. Can anyone help with this?
  5. Teaching English online taxes

    Hello,   I am planning to begin teaching English online through a website that lets me teach to people in China. I will set my own hours and will get paid into my PayPal account. How do I go about paying taxes? I’m not sure if this qualifies for freelance because I will only be using this one source of income. Also what percentage of my income can I expect to pay earning about 15 euro an hour working 40 hours a week? Will I have to pay US taxes? I read that I will have to file a return with the IRS but my income would be exempt if I earned it overseas. However this is a work from home job and I could work anywhere. 
  6. Taxes on non-German accumulating ETF

    Hello everybody,   Posting for the first time.   I would like to invest in an accumulating ETF which is operated by Deutsche Bank and is domiciled in Luxembourg. The fund is "transparent", i.e. it reports to the German tax authorities.   As far as I understand, the taxing process is extremely complex. The German authorities behave as if they aren't aware of the dividend/interest gains and you're obliged to declare and pay them every year. However, upon selling, they suddenly become aware of these gains and tax you again. Then, in order not to be double-taxed, you must prove that you correctly declared all gains and paid the taxes lawfully, and only then will you get your taxes back.   Is this really the case? Is investing in transparent, German-operated funds in the EU really that complex?   Thanks in advance!