Taxes in Germany: A Guide for Expats
Tax classes in Germany: a guide Choosing the right tax class in Germany is important for financial planning. Germany has six different tax classes, each designed for specific life situations and family constellations. Here is a comprehensive overview of the German tax classes and what they mean: Tax class I For: Single, divorced, widowed […]
Tax Classes in Germany: Can you save Money?
Tax classes in Germany: a guide Choosing the right tax class in Germany is important for financial planning. Germany has six different tax classes, each designed for specific life situations and family constellations. Here is a comprehensive overview of the German tax classes and what they mean: Tax class I For: Single, divorced, widowed Married […]
Product Check: Base Pension
Why the base pension makes sense for women in particular The base pension is a private pension scheme with numerous advantages, but also some clear restrictions as framework conditions. It is used exclusively for old-age provision, whereby the contributions paid in after the savings phase are paid out as a lifelong pension until the […]
30 years of Statutory Health Insurance: an Overview of the Shortage of Benefits
What has actually been happening in statutory health insurance for over 30 years? As an expat, you often have statutory health insurance right from the start in Germany. Compared to healthcare systems worldwide, the statutory healthcare system in Germany is still one of the best. So membership of the statutory health insurance system feels good […]
Real-Estate Financing: Become your Bank’s Darling
When it comes to financing a property, your banker is your most important partner. No money, no property. The financing of a property can be planned long before the purchase and the strategy can be optimized through careful planning and preparation. There are a number of steps you can take to increase your chances of […]
When does it make sense to switch to private health insurance in Germany?
Not everyone is free to choose between public and private health insurance in Germany, but if that option is open to you, it’s a question worth careful consideration. We will have a look at some situations where it might make sense for you to switch to private insurance. Do you still remember your first days […]
How to Start a Business in Germany for Expats
Introduction This guide provides a step-by-step approach to setting up a sole proprietorship (Einzelunternehmen) in Germany, specifically tailored for expats living in the country. It covers all essential aspects, from legal requirements to tax considerations. 1. Check Requirements Residence Status Before starting a business, ensure your residence status allows for self-employment. If you are […]
Tax Loss Carryforward (Verlustvortrag ): A Guide for Students
The tax loss carryforward is a tax tool that can be particularly useful for students who incur expenses during their studies but have little to no income. It allows you to claim study-related expenses as tax-deductible losses and carry them forward to future years when you start earning income. In this article, I will explain […]
Using a Riester Contract: Opportunities and Challenges
Introduction Many people in Germany have taken out a Riester contract to provide for their old age. In principle, this state-subsidized pension scheme offers several advantages, but it also faces significant challenges. One key problem is the guarantees that must be provided for all contributions and allowances paid in. This article sheds light on the […]
Maximizing Real Estate Investments: From Rental Income to Personal Residence – The Buy – Rent – Use concept
Introduction Investing in real estate is a significant financial decision, and strategic planning can yield substantial benefits. One effective strategy is purchasing a property with the intent of renting it out initially, and later converting it into a personal residence. This approach not only leverages tax benefits but also facilitates mortgage repayment through rental income. […]