Lose weight: The first step counts

The path to your desired weight starts with a clear goal. Set yourself realistic expectations and divide your big goal into smaller stages. It is important not to want to change everything immediately. Small changes that you can integrate into your everyday life make a big difference.

As always first:

5 facts about losing weight

5 facts about losing weight that you may not have heard yet!

1. Muscles burn calories – The more muscle you have, the higher your basal metabolic rate, even at rest.
2. Sleep affects your weight – Less than seven hours of sleep can promote cravings and weight gain.
3. Water as a fat burner – Drinking water before every meal increases calorie consumption and reduces calorie intake.
4. Stress makes you fat – Chronic stress increases cortisol, which promotes fat accumulation, especially on the stomach.
5. Weight fluctuates daily – changes due to water, salt or hormones are normal, so focus on the long-term trend.

Why the first step is so crucial

The road to your dream figure is long, but it’s worth it! Losing weight often fails because the beginning seems too complicated. Start with a simple task, such as going for a ten-minute walk every day or planning your meals more consciously. This is exactly where the key lies:

“Just start and keep at it.”

Luke Jaque-Rodney

Even small habits, such as drinking water instead of sugary drinks, can make a difference. A minimalist diet – using only the foods you really need – also helps you to keep track of your diet and avoid stress. You can find more tips on this here in the interview with Spiegel bestselling author Luke Jaque-Rodney.

Bring more movement into your everyday life

Exercise is an essential part of losing weight. You don’t have to join a gym straight away – small changes in your everyday life are often enough to see the first results.

Calculate basal metabolic rate free of charge

With our free basal metabolic rate calculator, you can quickly find out how many calories your body needs every day. This value helps you to adjust your diet plan, regardless of whether you want to lose, gain or maintain your weight. Simply enter your age, weight, height and gender and get started!

Calculate your basal metabolic rate free of charge & online

The best tips for more exercise

• Start with a daily walk – just 30 minutes a day can help.
• Take the stairs instead of the elevator or deliberately park your car further away.
• Find a sport that you enjoy – whether it’s yoga, dancing or cycling, there are many options.

For long-term success, it is important to develop a routine. Fitness expert René also recommends preparing your meals in advance to help you cope with stressful days. Read his best meal prep ideas here.

Healthy eating: fewer calories, more quality

Losing weight only works if you eat fewer calories than you consume. But that doesn’t mean you have to starve yourself. A balanced diet that fills you up and still saves calories is the key.

• 40+ Diets (external on doktorfy.de)

How to change your diet

Start by replacing high-calorie foods with healthier alternatives. Focus on fresh vegetables, high-quality protein sources such as chicken or tofu and healthy fats from nuts or avocado. Plan your meals in advance to avoid unhealthy snacks. An easy place to start is with low-calorie recipes that are still tasty and filling, such as these fitness recipes.

Tips for everyday life

• Eat smaller portions and use smaller plates.
• Avoid highly processed foods and cook fresh as often as possible.
• Drink enough water – we often confuse thirst with hunger.

If you’re looking for inspiration for healthy snacks, you might be interested in these ideas: healthy snacks and to-go products.

Alternatives: WeightWatchers, Ozempic & Co.

For people who find it difficult to lose weight through diet and exercise alone, communities such as WeightWatchers can be an option.

Medication such as Ozempic is another option. This prescription medication supports weight loss by reducing the feeling of hunger and regulating blood sugar levels. However, you should only use such alternatives after consulting a doctor. Ozempic and similar medications (such as Wegovy or Mounjaro) should always be part of a comprehensive approach that includes a healthy diet and regular exercise.

What do I recommend? The healthy way, method “FDH” (eat half) + more exercise, that saves money and you experience more = winwin! With or without aids, during the weight loss process but also afterwards: stick with it!

Keep at it: Motivation and mindset

Losing weight is not a sprint, but a marathon. Setbacks are part of it, but they are no reason to give up. With the right attitude, you can be successful in the long term.

How to stay motivated

Set yourself small, achievable goals and reward yourself for success. Keep a food diary or track your progress with an app. To stay motivated, you can also train and cook together with friends or family. Exercise, nutrition, healthy awareness, that’s all you need if you’re motivated.

My tip: enjoy the process! Find joy in exercise and discover healthy foods that you enjoy. Losing weight shouldn’t just be a goal, but a journey to a healthier lifestyle.

Your path to a healthier life

The path to losing weight starts with the first step. Whether you start with more exercise, a healthy diet or both – the important thing is that you get started. Stick to realistic goals, find a routine that suits you and don’t let setbacks discourage you. You can do it!

Step 1: Calculate your calorie requirement

Do you already know our weight loss calculator? Food, calories, calorie requirement, BMI & Co.

• Weight loss calculator

Loss of rent: yield effect

Vacancies, rent arrears or even re-letting and tenant selection. There is a lot for you to consider when buying real estate. Even if you have found a profitable property in the real estate acquisition process with a good property yield, 2 or 3 months of vacancy per year can make your investment suddenly unprofitable. Why and why is the choice of location / property type so important? You can find out more here in the Real estate purchase risk guide.

This guide is therefore about raising awareness of the topic of location selection and property type. When buying a property, in most cases you are taking over the current tenant. It is therefore important to always check the seller’s tenant history!

Loss of rent = you pay the costs instead of your tenant

Let’s start with the topic of vacancies.

Reasons for vacancies and rent losses

Tenants who don’t want to pay quickly make an investment unprofitable. But it doesn’t always have to be the worst-case scenario – rental nomads are rare – rent defaults can also occur because your tenant has financial difficulties and can no longer pay the rent on time. Or a change of tenant when you move and your new “ideal” tenant only moves in a month or two later.

In addition, there are structural changes, long-term vacancies, when the location becomes unattractive for tenants.

There are therefore many reasons for rent losses:

• Rent not paid – tenant has financial problems
• Vacancy, e.g. for new tenants – “desired” tenant arrives later
• Vacancies due to structural changes – in 5, 10, 15 years

Location + property + tenant selection

In addition to the choice of location and type of property, you, as the future landlord of a capital investment, also need to select tenants.

Let’s take a worst-case scenario as an example. Your tenant refuses to pay the rent, regardless of whether for personal reasons or financial reasons, and it takes 9 months to file an eviction suit. If the tenant himself is not sufficiently solvent, you will never see your money (costs of the eviction action) again.

Central, think about:

• Choice of location – structural vacancy? Less housing in the future
• Real estate type – How do you live? Micro apartment, instead of loft apartment
• Tenant selection – Who is a tenant? Creditworthiness (and trust)

The better you prepare for this when buying your first property, the better.

• Choice of location: A, B and C location
• Property type: Houses or apartments

Vacancy or not: loan installment must be paid

The vast majority of people finance their property. This means that you give about 15% equity and a bank gives you the rest (85%) as a loan. You repay the loan. The monthly installment of repayment and interest is called the loan installment. The bank doesn’t care if your tenant gets into trouble. You have to pay the monthly installment.

No matter what happens:

All costs continue to run!

Vacancies: influence on real estate yields

When buying real estate as a capital investment, the main focus is on returns. Simply put, the rental yield indicates how much rental income you achieve in relation to the investment (purchase price of the property, ancillary costs, maintenance). The result is a percentage. The higher, the better.

Example (simple):

• Investment in real estate: 100,000 euros
• Rental income / year: 3,000 euros
• Yield = 3%

3% would be relatively low, as you have to expect around 6% for interest/repayment and maintenance (currently). This means that your property must yield at least 6% to cover the costs.

As soon as you slip below ~ 6% yield, you pay more

Assuming you have calculated extremely tightly when buying real estate. So that you just achieve a 6% return, which covers the management / loan installment (interest and repayment). Now you have only 2 months of rent loss – the calculation is no longer correct and the yield drops to 5%. At 5%, the “missing” percent has to be paid out of your own pocket.

• Calculate real estate yield

Calculation: Return effect 2 months default

Let’s now calculate with the extremely tightly calculated 6% yield property. The big goal in all our guides:

Your tenant pays for your property = good return

Example 6% yield with full rental payment:

• Investment in real estate: 100,000 euros
• Rental income / month: 500 euros x 12
• Rental income / year: 6,000 euros
• Yield = 6%

Example effect of loss of rent (2 months):

• Investment in real estate: 100,000 euros
• Rental income / month: 500 euros x 10
• Rental income / year: 5,000 euros
• Yield = 5%

That means 1,000 euros out of your own pocket this year.

– 1,000 euros instead of “Tenant pays for your property”

Financial freedom? That’s why preparation is so important!

Tenants should therefore always be closely scrutinized. You should do a really thorough check.

• Self-disclosure
• Previous landlords speak
• Schufa information
• …

Rent arrears and reserves

It doesn’t always have to be a complete loss of rent. In practice, there are many reasons, for example, your tenant may not accept a rent adjustment following modernization measures. In other words, you modernize and adjust the rent and your tenant refuses to accept the rent increase.

Here, too, you are faced with the problem that you have made your investments and suddenly the tenant refuses. A dispute like this can go on for a long time and, in the worst case scenario, it can take 6 – 12 months before an eviction action is brought.

So that you can go into your first property without any worries, remember this:

Build up reserves!

What does that mean?

Building up reserves: security for the first property

Ideally, protect yourself financially against two possibilities:

1. Reserve for maintenance
2. Reserve for rent losses
3. Reserve for all eventualities

Reserves do not have to be set aside. However, they protect you from costs that you may not know how to cover spontaneously. Because, as you have learned, it doesn’t matter whether it’s rent arrears, loss of rent or vacancy:

All your costs continue to run

Reserve for maintenance

One cost factor that you will always have to bear is maintenance. More or less, of course, depending on the year of construction and condition of the property. In general, however, you already calculate 2% reserves for maintenance in the first yield calculation.

Part of the yield calculation, 2% maintenance reserve:

2% reserve for maintenance

Property for 100,000 euros (investment) = 2,000 euros reserve / year

Reserve for rent losses

In addition, a 6% rent reserve is recommended for possible rent losses:

+ 6% reserve for rent losses

Property for 100,000 euros = 6,000 euros reserve

6% would also correspond to a return of 6% = 1 annual rent.

Reserve: Extra, for all eventualities

Especially for the first property, without large assets of your own (as a rule), you should think about an additional reserve. Why? So that you never run out of money and miss a payment to the bank.

Ideally for the first property, not a must but security:

+ 10% extra reserve

Property for 100,000 euros = 10,000 euros reserve

Follow-up financing: risks and interest rate changes

Vacancies not only have a negative effect on yields. Most property loans have a fixed interest rate with a fixed term. At the end of the term, the conditions are renegotiated, known as follow-up financing.

This is where the 2 central aspects come into play again:

• Choice of location – structural vacancy? Less housing in the future
• Real estate type – How do you live? Micro apartment, instead of loft apartment

Lending: Factors

The bank also follows a clear path for follow-up financing. Let’s say you fixed the interest rate for 10 years for your first real estate financing. After 10 years, with 25 normal repayments, the remaining debt is around 76%. This must now be financed.

For follow-up financing, go back to your bank or to another one. If you are offered better conditions, it is worth obtaining alternative offers for the follow-up financing. Bank A, B, but also C will take another focused look at your property and you:

• Real estate
• Creditworthiness

Structural change: lower property valuation

Factor 1: Structural change – Because everyone is reassessed for the follow-up financing. Let’s say your fixed interest rate expires after 10 years and the bank says the property is now worth 20% less, for example because many people have moved out of the region in the last decade, property prices are falling and so on.

Banks want security, if the property is then worth less, the bank would have lost money in the worst-case scenario (loan installment defaults, forced sale/auction). So the interest rate rises.

Interest rate change: interest rate development in 10, 15, 20 years

Factor 2: Interest rate changes – Interest rates are currently lower than ever. It is impossible to make a serious forecast of what interest rates will be in 10, 15 or even 20 years’ time. However, a look back shows that interest rates in this country were still above 8% until 1990, 4-6% until 2000 and currently only 1-2% for real estate loans. If interest rates fall, it’s great for your follow-up financing. However, if interest rates rise, it’s bad, because then you pay more and the return calculation no longer works.

What to do? Tips for good returns

First of all: keep your eyes open when buying real estate!

Don’t buy yourself any problems!

Don’t buy yourself any problems, learn here with us step by step how to buy your first property, from the preparation, to the acquisition (finding profitable properties), to the purchase contract. By the time you’ve read our guide to buying your first property, you’ll know how important it is to find profitable properties in the real estate acquisition process.

Read here again:

• Choice of location: Buying an A, B or C location?
• Property type: Houses or apartments?

3 tips: Low interest rates

You now know that it is very unfavorable if the property suddenly costs money instead of bringing in money. What can you do? Here are 3 simple tips:

Tip 1: Buy cheaply – It sounds simple, but “the profit is in the purchase”. A piece of business wisdom that is also true when buying real estate. Buying cheaply means finding a property that is sold below market value, or that you, as the buyer, buy below market value. We have more on this topic here: Buying real estate.

Tip 2: Fixed interest rate – If you fix your interest rate for 10 years, you will have to take care of follow-up financing in 10 years. The longer the fixed interest rate, the longer you don’t have to worry about interest rate changes. To maintain the current low interest rates, you can agree a longer fixed interest rate, for example 15 years or 20 years. In case of doubt, until the end of the loan.

Tip 3: Higher repayments – If interest rates explode and ruin many yield calculations, higher repayment installments are an option to reduce interest rates. Interest is always calculated on the basis of the debt or, from the first payment, on the basis of the remaining debt. The lower the remaining debt, the lower the interest. With the current low interest rates, however, it is worthwhile financing real estate over a long period of time, as inflation ensures that your loan installment is always “smaller” in terms of purchasing power.

You can also start financing with more equity right at the beginning. This means that the loan amount is smaller and so is the repayment. This means that the loan is repaid more quickly and long-term interest rate changes no longer affect your financing.

Let’s summarize the 3 tips once again:

1. Purchase price – Buy cheaply (below market value)
2. Fixed interest rates – agree longer fixed interest rates (15 years, 20 years)
3. Repayment rate – Repay more or start with higher equity

Here are 2 practical tips for finding “problem-free” properties:

2 tips: Real estate viewing

Here are 2 practical tips for your real estate search.

Tip 1: Pay attention to the property management company – Is the property management company doing a good job from your perspective? In other words, do you have the feeling that the property management company knows what it is doing?

Tip 2: Owner-occupiers in the house – When you view properties, you also make sure that there are a few owner-occupiers living in the house. You tend to make sure that the property remains “well-maintained” in terms of its condition and the tenants.

In short, you pay attention to:

1. Property management and trust
2. Owner-occupier in the house

Is it worth investing in capital assets?

Does real estate make sense as an investment? Capital investments are currently becoming increasingly popular as protection against inflation. Inflation reduces the purchasing power of your money over time. Real estate increases in value over time and can therefore serve as inflation protection and wealth accumulation. For more and more people, capital investments are the path to financial freedom and a secure pension.

For whom is a property worthwhile as an investment? Purchasing condominiums as an investment has become a proven strategy for generating passive income. However, this approach is not equally suitable for everyone. To assess whether a property as an investment is worthwhile for you, you should consider your individual goals, financial resources and risk tolerance.

The right location: The first rule of real estate investment is: location makes all the difference! You need to be aware that not every area provides the same returns. A-locations, such as sought-after city center locations, often offer the highest rental and appreciation opportunities. B-locations, i.e. areas close to the city, can also be attractive. C-locations, the outskirts or less popular neighborhoods, are often less expensive, but also involve more risks. Choose the location wisely, as it has a significant influence on your return.

Return and positive cash flow

How to find real estate with good returns: Your investment should be worthwhile, right? To achieve a solid return, aim for at least 9%. This means that after deducting all costs (maintenance, taxes, insurance), you still achieve a positive return. A positive cash flow is crucial to generate profits beyond cost recovery. Remember that real estate investments are for the long term, so it’s worth waiting patiently for a good return.

The right financing for capital investments

Financing is a key aspect of your real estate investment. We recommend putting at least 20% equity into the property. This reduces the risk and increases the chances of a positive return. The loan should pay for itself through the rental income. This means that the monthly rental payments cover the loan installments and also generate a profit after some time.

These were the essential basics of what is important when investing in capital assets. Do you want to get started with real estate now?

The first capital investment: guide & tips

Read an article and take away the most important tips for investing in capital assets. Start your career in the real estate industry now with the investor’s guide. Learn how to do it:

• Real estate as an investment for beginners

5 mistakes! What to look out for when investing?

Successful investments are the key to financial stability and independence. But how do you achieve this goal? In this article, we present you with a useful step-by-step guide on how to invest successfuly. Whether you already have experience or are new to the world of investing, this checklist will help you achieve your financial goals. Get started with real estate now!

• Risk checklist
• Buying an apartment: 11-point checklist

Our readers were subsequently interested in these articles:

• Owner-occupation vs. real estate as an investment: advantages and disadvantages of owning your own home
• Real estate investment: Tax advantages? Nursing home? – Questions and answers
• Beach house: features, renting, buying or building and pros & cons of an investment
• Your own property in Mallorca: a secure investment
• Property tax for real estate: Annual costs of your first home
• Real estate crowdinvesting: Invest in real estate with little money!
• Leasehold: tips for investors – advantages and disadvantages
• Determine maximum purchase price

Investment book recommendations: Basics & C0.

Would you like to invest in a property as a capital investment? For the bookworms among you, here are some great book recommendations on specific real estate topics such as taxes.

• Real estate as an investment Book recommendations: Passive income, taxes & tips for beginners
• Real estate investment book recommendations: Basics, investment & tax tips
• Buy real estate book recommendation: mistakes, process, taxes and investment

Video tips: Real estate as a capital investment

Do you prefer to learn with helpful videos? Then these video tips are just right for you. Find out about the basics of real estate investment now!

• Real estate as an investment Video tips: Service charges, taxes & returns
• Buying real estate video tips: Mistakes, process, taxes and investment

Learning tips: Building wealth with real estate

No time to study? With these real estate podcasts and real estate apps, you can get all the important information you need to be successful in real estate on the side.

• Real estate podcast: The 9 best podcasts on Apple, Spotify & Co. – prices, management, investment
• Apps for real estate: knowledge, online tools, renting & buying

How does the pension system work?

The pension system in Germany is based on three pillars; statutory, occupational and private pension provision. Many people are probably aware that this system is not doing too well these days. Read here what the three pillars are all about:

Here is an overview of the three pillars:

1. Statutory pension provision
2. Occupational pension provision
3. Private pension provision

Statutory pension provision: Collecting points for all they’re worth

Statutory pension provision ends up not really being worth talking about, thanks to certain factors such as inflation, i.e. the devaluation of money. Roughly speaking, “pension points” must be accumulated, all of which have a certain value:

• Average earnings (< 60,000 euros gross / year): One point per year
• Below average earnings : Half point per year
• Above average earnings (> 60.000€ gross/year): Two points per year

The points are then added up to the pension and multiplied by the “pension value”. Here you can find the current formula for calculating the monthly pension amount:

Monthly pension amount = earning points x access factor x pension value x pension type factor

Here is a quick example to calculate the pension of an average earner:

Example: Average < 60,000 / year

Example (40 years of work):

• Pension points: 40
• Pension value current: ~ 34
• Standard age limit / pension type factor: 1

Monthly pension:

• 40 x 34 x 1 = 1.360 Euro

Factor source: German Pension Insurance.

However, it does not stop there. Even with this amount, all taxes and inflation must still be calculated. Factors such as tax, health and long-term care insurance must also be taken into account. Especially inflation hits your pension hard. Don’t you think? Here you can find an overview of the change in the inflation rate in Germany from 1992 to 2020.

You can find more statistics at Statista.

Occupational pension provision: Secondary cover as a solution?

The company pension scheme is an additional safeguard to the statutory pension scheme. It is considered a supplementary pension and is financed by the employer. Even with this, it is difficult to cover one’s costs in old age.

Private pension provision: Investment in real estate

Let’s move on to private pension provision. The first question that arises here is how do I invest my money and in which form of investment should I invest at all? Inflation is our biggest enemy when investing in a financial product, but it is our best friend when investing in real estate, as we have already described in the article Wealth Creation & Inflation.

Here briefly again in simply explained!

Investment form Financial product:

• 10,000 euros in a savings account are and remain 10,000 euros. Even if the money is only worth half in 30 years (inflation).

Investment form real estate:

• If you buy a condominium for 10,000 euros, the money in 30 years is only worth half, you get for your property 20,000 euros

As you can see well here, when you invest in a property, you are always very well protected against inflation and can also still make profits. Unfortunately, our pension is similar to the investment in a financial product – in the end, we all make a loss.

The next step: real estate as an investment

This article compares the classic investment of money in the bank with a capital investment in the form of real estate. Real estate creates “real value”. Find out what that means here!

Learn here about the benefits of investing in real estate for your retirement savings, too!

Thanks to Keynote Speaker One: Speaker Agency (external).

How much do you earn as a speaker?

FIV: Thank you for taking the time again! Today we want to hear what tips you have for those who want to become speakers. Not only as a transition to my questions about becoming a speaker, I have to ask you! I’m sure many people are interested in one thing in particular: How much do you earn as a speaker?

Knowledge that creates money brings money. So simply put, the more effective your knowledge serves to achieve goals, this does not always have to be money, it could also be about building networks, for example with business representatives, more commonly known as lobbyists, the higher the knowledge transfer is calculated and charged. In short, if you manage to generate more money for the client, you can become a consultant or speaker.

First, though, it’s important to me, speakers don’t just work for money!

Prices for Speaking, Workshop and Coaching

There are many people who have, let’s say, made it, for whom money also no longer has the significance it has for others who are still starting out. They want to pass on their knowledge and experience to the next generation. For example, if millionaires speaking at a small startup conference. For them, it’s primarily not about the money, but about helping other people, motivating them.

To come to your question about the earnings, who starts as a speaker, without an agency, is already good with three-digit fees. As a rule, it is only one hour of work on site. Of course, there is preparation, travel, the final input for the participants, but it is often limited to 60 minutes when it comes to speaking. Those are the early days. Events with over 200 participants usually have people speaking who earn in the four-figure, five-figure range.

Then there are whole workshops or coaching sessions, so to speak, with simultaneous mentoring. Such a day can look like this, for example, that a lecture is given for 30 to 60 minutes, followed by a work unit for 30 to 120 minutes. This change takes place because, 4 times. The effort in the preparation is of course much higher. Accordingly, there is also a higher fee here.

When it comes to prominent speakers, as well as CEOs of large companies, we’re usually talking four-figure to six-figure amounts, for an appointment.

That information will have to do for now!

Topics that will make you a lot of money as a speaker

FIV: In which areas, or in other words, with which contents and lectures, can you earn a lot of money as a speaker?

I would answer the question like this: Don’t pay attention to the topics, but to the customers or industries. Also a good tip for all those who want to become a speaker. Which industry, economy or trade sector has high sales and at the same time many companies, i.e. potential clients?

A simple, classic area that really everyone knows are banks and financial institutions. They manage assets of wealthy people and are accordingly always looking for new inputs from all areas. Whether it’s marketing for reach, sales for closes, or digitization in companies, for more efficient, internal work processes. Such wealthy clients are naturally willing to pay more for good content.

Example: Facial expression training for asset managers

FIV: Can you give me an example of such a special and at the same time profitable area?

A practical example, one of our speakers is particularly concerned with facial expressions. That means he reads faces, more specifically, the emotion in the other person’s face. So he can see whether someone agrees or disagrees with an opinion, simply put. So if a wealth manager is sitting in front of a wealthy person in a meeting, proposing different investment options, he or she can tell by facial expressions whether the client is more likely to agree or disagree, no matter what he or she explicitly says.

Perhaps a client rejects a certain type of investment, simply out of principle or because he or she went into the conversation with other plans. But you can tell from the facial expression that there is a lot of interest, so the investment advisor should not change the subject now, but perhaps drill down a little further, once again mention advantages and so on. This is a simple example, but this simple action generates in the end perhaps an additional turnover of 10 million. All this by learning from 1 day.

Such knowledge, such skills are worth their weight in gold when it comes to investment advice.

Becoming a Speaker: Tips from the experts

FIV: Thank you for the insight. With this example you can see directly how deep the topics can go in your speeches or with the customers. I would also like to be able to read the facial expressions in the interview! Where do I pick up, where not, very exciting. That brings us right to the questions for our readers who want to become speakers! How do you become a speaker and what do you need?

Checklist: Become a Speaker

This is where I would give you very Speaker-Like, succinct bullet points. Let me think for a second. In very, very short, this is what it takes to become a speaker:

1. Who are you? Generalist, specialist or a known person
2. You need a track record or specific skills that lead to successes
3. You need a topic, better still a prepared presentation on slides
4. You need experience and reputation through project and customers
5. You need networking, outreach, orders, repeat business and referrals.

Your appearance: personality and theme

FIV: What do readers who want to become speakers need to know about each of the areas you just mentioned?

Okay, let’s recap in really, really short order. You have to decide how you want to appear. There are generalists, like CEOs, managers, self-made millionaires, who don’t specialize in a certain area, but can overview, understand and also explain more complex contexts. They know the steps, but often not the work itself. Simply put, someone had the idea for software, but doesn’t know how to program. Programmers do the work, she or he takes care of the management and development of the company, between programming, sales, accounting, human resource management, location management, etc. The same is true in business and politics. Here it is important to have reputation as a speaker, that means people know what you stand for.

Are you such in generalist? Or are you a specialist, i.e. the programmer who knows how to implement ideas and build an application from them?

These are specialists, they deal with a precise topic. The programmer perhaps with Industry 4.0 in digitalization, more explicitly with “Automatisms in production lines the automotive industry”. A generalist would rather give a lecture on “Industry 4.0 in the automotive industry”.

Important for these two groups of speakers, they need success stories! Because only those who have success stories to show will be perceived by others as mentors.

Then there are well known people, they are booked for your name, for internal and / or external reputation reasons.

So first and foremost, find your personality to portray to the outside world and your theme, or themes.

Experience and reputation (good reputation for recommendation)

FIV: What did you mean by experience and reputation?

Experience is made up of many components, the most important of which is your track record. You’ve been doing your job for 20 years and you’ve done it successfuly. Or, you’ve programmed an application that hasn’t been done before. You’re top in human resource management and now you’re passing on your experience as a headhunter. You have built a successful company. All these are success stories.

At the same time, however, failure is also ok, that is, mistakes that were made. The mix of success and failure then creates the hero story. Depending on how emotional you want to build your own speech, a very powerful tool for emotionalizing the audience.

Top lecture topics as a door opener for speakers

That brings us back to the topic. You need a topic that you understand and can explain. Especially if you are at the beginning and don’t have a big name yet, you need an exact topic that makes you stand out. In marketing, this is called the “long tail”.

FIV: Can you explain that a little bit more?

Before that, we were on Industry 4.0, a very general topic. A longtail would then be the topic “Industry 4.0: Automation in production lines the automotive industry”. It is much easier to establish yourself when the competition is small. The typical principle of supply and demand. Therefore, young people in particular who want to become speakers should focus on the fact that they place themselves in new topics, here they can address in particular older people and make them their customers. These lack the new knowledge, at the same time they already have assets to pay you, simply put. A win-win situation for both sides.

Now just comes the big question, how do you get customers? Network and reach are the answer. It differs depending on whether it’s about qualitative or quantitative networks. If, for example, you are dealing with the aforementioned “automation in automotive manufacturing”, you don’t need large distribution lists, but rather targeted, few contacts in the large companies and corporations. However, anyone who deals with the topic of “becoming self-employed and earning money”, for example, needs to address a large number of people (private individuals) in order to be able to make a living from it.

In general, I would say, as always when you want to become an entrepreneur, you need a certain topic, you then need to work on it enough and you need to find people who appreciate your work.

Does training as a speaker make sense?

FIV: Is there actually a speaker training?

Most speakers are self-taught. They are good at something and can explain it. I don’t think training is useful, at least not one that is longer than a little coaching, from another renowned expert. Also handy to see what criteria you would look for yourself when looking for a coach. But the danger is, one tells you this, the other that. What you then lose as a speaker is your authentic manner, whether calm or psyched up as an entertainer. So I would say coaching to package content better, to deliver better, in presentation and structure, makes sense. Anything that changes personality should be well thought out.

Live or virtual: advantages and disadvantages

FIV: In view of the current situation and all the digitalization, what do you think is better as an expert: live or virtual? Why: Especially through the time with Covid, we have done many things online that were previously almost always offline. For example, meetings, workshops and, of course, training and coaching. Did you have digital lectures?

I’ve also had a lot of digital lectures in the last year and a half. But I’m not a fan of it, at least not with the current solutions and bandwidths!

For example, I just had to split a group of 260 people, into three groups, so I had to hire an additional 2 speakers. All because it’s not possible to reliably bring more than 50, 60 people in one stream. This is despite the fact that we had already chosen one of the great software solutions for this appointment.

Problem: Bandwidth for video calls

FIV: What exactly is the problem?

The big problem, the bandwidth and the common processing of the data. I am the only one who can stream a video. The more that connect with video over, it’s no different with audio, the worse the connection gets. So basically I’m talking without seeing a single participant. At the first event I thought okay, this can be worked on. But now, a year later, it’s no different. As I said, I’m not a fan of digital training when those are the conditions when it’s also live.

In this example, it was so that no one could ask a question back without having to join in extra, after all, everyone has to deactivate their microphones and webcams. In a live situation, I would see a response immediately, digitally, without video, because of bandwidth or software, I don’t know, people have to actively decide to check in first. That’s an incredibly big barrier. That’s why hardly anyone dares to ask a follow-up question. It always feels like an interruption to the participants, so they feel like they are “interrupting”. It’s also hard to take away that feeling.

After all, you don’t see the reactions of the other guests and you don’t know how they are thinking or feeling, do they have questions or not? Am I the only one who doesn’t understand?

Communication and audience response

FIV: So live or virtual makes a difference?

Yes, live or virtual makes a big difference! Of course, there are always the exceptions, the very diligent, who can learn just as effectively digitally. But as a rule, emotions are part of it, as just discussed but also queries. As a speaker, it’s also much easier for me to see the number of questioning faces, depending on how specific the topic is. Then I can respond to them, for example, elaborate a little further.

At the same time, the participants have the opportunity to discuss among themselves, i.e. live, quietly during the lecture, but also during the breaks, and of course before and after the speaking. The spirit, from stage to audience, is also quite different. And in the end, it’s not just about the factual knowledge, the information, but above all about motivation, wanting to achieve more! Sometimes you first have to awaken the will, sometimes you have to focus and channel it.

Live lectures have many advantages, for the participants and accordingly also for the client. The results are more effective.

FIV: Thanks for the great and detailed answers!

Keynote Speaker One (website): Speaker Agency.

Part 1: Speaker Agency and Trend Topics

Speaker Agency – Learning is something that never stops. We start with our parents, in kindergarten, come to school, do training or study, attend workshops, training and further education, learn languages, arts. Out of personal passion or to earn more money. Many companies invest a little more and book real experts for their company and their employees. Many names are only known in professional circles, others are prominent and known to all. We caught up with the owner of a speaker agency today to talk about the industry, processes and speakers. What are important topics for companies, what are trending topics? We also asked him: how does one actually become a speaker? Maybe you have some valuable knowledge of your own that you can share with others. But let’s start at the very beginning!

• Speaker Agency – Interview

Hiring a tax advisor: 3 mistakes

In our great overview on the subject of tax advisors, the recommendations for many cities, for good tax advisors in the area, the tax advisor costs everything on the subject of starting a company and possible legal forms; taxes are so important for entrepreneurs that today we once again focus on the tax advisor choice. Because, especially the selection of the tax advisor is a central factor, for the success of your company. Before we look at the 3 mistakes in detail, here is an overview for you.

Assign risks to the tax advisor:

1. Intensive, regular cooperation; means commitment and time for tax consultant changes
2. Amount of monthly and additional costs; money missing for reinvestment
3. In the long term: lose money (pay too much tax, plus costs for tax advisor, lack of reinvestment) due to lack of qualitative / quantitative advice

Source: Lukinski.de, article tax consultant for enterprises

Let’s look at each of the commissioning risk factors.

Communication and bonding – risk number 1

First of all, a risk factor that is not directly related to the topic of “losing money” or “costs for the tax advisor”. It’s the regular, intensive relationship you have with your tax advisor. While most business relationships are relatively irregular, you’ll need to talk to your own tax advisor for many, recurring transactions in the. Whether it’s levies, consultations or queries.

If you don’t feel absolutely comfortable during the first meeting, or if you are not on the same wavelength, then you should refrain from working together. That is why it is so important to compare tax advisors, through recommendations from experienced entrepreneur friends or through initial discussions with different tax advisors. Also important so you have different quotes in front of you. How often you will communicate, you can already see by the weekly to annual meetings, even if only digitally.

Deadlines for submission of accounts, wages and annual financial statements

Regular communication includes, for example:

• Monthly submission of the accounts, by the 10th of the following month (deadline at the tax office)
• Wages and salaries, as of the 15th of the month
• …
• Financial statements

As an entrepreneurial person, you are in constant contact with the tax office. Therefore, you should also look for people with whom you, as described, are on the same wavelength. If it quickly comes to disagreements and disputes, the share of communication decreases and so you come to risk number 3: The lack of tax advice.

At the same time, you’re just as reluctant to make contact and won’t ask some questions you would have asked an accountant you trust.

So in addition to all the facts and figures, the personal level also plays a role.

Change of tax advisor: When mistakes add up

Already by the above points you have seen how in your company is connected with the tax adviser. Accordingly, a change is not possible overnight, it must be well prepared. You need to find a new firm that will take you on as a client. Especially good law firms check if they want to work with a client. The new tax advisor must then, as immediately start working for a smooth transition, for example, if you have a dispute with your old tax advisor.

So the commitment is relatively long-term, until you notice mistakes (we’ll get to that in a moment) and find time to change tax advisors in addition to the day-to-day business of your company. But don’t worry, if you find someone who accepts you as a client, the change is made relatively quickly, from the first conversation to the start is maybe 7 to 14 days.

Thanks to digital accounting, the change of tax advisor is possible within 24 hours if the mandate is accepted by a law firm.

Monthly, too high cost burden – risk number 2

Of course, tax consultants don’t work for free. When you look at the costs of a tax consultant, you also look at two values.

Cost factors: 1) Regular and 2) Additional services

Cost factor 1: Regular services – The basics, i.e. your bookkeeping and financial accounting, are usually calculated according to the value in use. Value in use means that the monthly amount of the costs is based on the amount of your turnover. The more turnover you make, the more you pay. The fees are calculated according to an official scale of fees. In addition, tax consultants have a small margin, up and down.

This means you pay a fixed value depending on how much revenue you make. Nevertheless, offers from different tax advisors can differ, as they have a percentage margin.

Cost factor 2: Additional services – In addition to your monthly basic costs, there are also additional services, for example consulting, but also the annual financial statement is charged extra. Here lies the risk factor, how much consulting is good, how much is bad for you and your company? There is no general answer to this question. Because, depending on how much previous commercial knowledge and also interest you bring yourself, ideally only 1 or 2 hours a month. Consultation means already inquiries here. Just about every minute is billed. If your tax advisor talks to you on the phone for 10 minutes, then an employee has to be informed (5 minutes), another 20 minutes of documents are procured, a decision is made and a call is made back – already 1 hour of additional effort has arisen, for one question. At 120 euros / hour, quickly a relevant topic for young companies.

So you have two cost factors and especially the additional services can quickly add up. If you use a lot of consulting, which many founders do, then every minute is charged. If you take an hourly rate of 120 Euros as a basis and only 1 additional hour per week, 4 hours of additional consulting (one appointment or distributed) will cost you 600 Euros. As a large limited liability company, this may not be a problem, but especially at the beginning, in the start-up phase, this is a lot of money.

Example calculation: Extra costs due to consulting

Here again in quick and simple summary, the calculation of the additional costs, by consulting service.

• Hourly rate tax consultant: 120 Euro
• Additional effort / week: 1 hour
• Monthly extra costs: + 600 Euro
• Annual extra costs: + 7.200 Euro

If a GmbH was founded with 25,000 Euro starting capital, an item of 28.8% of the equity capital, in addition to the costs for regular accounting.

Advice is important, but pay attention to dotted questions and be prepared, for example by doing your own research, this saves time

Dubious tax consultants? Too much advice

If you have a less reputable tax advisor and regularly 10, 12 or even 15 hours extra per month, which at first doesn’t sound like much, over the whole month, the risk quickly becomes a danger. This brings us to risk 3, the consequence: losing money due to too much overhead and taxes.

Losing money through bad / no advice – Risk 3

Through lack of communication (risk 1), too high fees for too much advice (risk 2) or even lack of knowledge, you lose money to reinvest and further tax benefits.

Too much paid money, tax benefits, you can no longer claim afterwards / partly costly, that’s why it is so important to have a good advisor at his side.

The tax advisor training is relatively simple, it is not a long, state training or a study, the training to the tax advisor makes one in a course, with subsequent examination. By and large, it is about the administration of taxes, not about the design of taxes.

Full-time training lasts (only) 2 months

No one learns the intricacies in the tax system in 2 months, it’s more about filing monthly and yearly correctly.

Many tax consultants also pass on their work to employees who then show little interest in the individual clients, for example because these employees are overloaded with tasks. Accordingly, the work is processed, that is, managed again, not designed. If you hire a tax advisor who does not attach much importance to communication, especially in terms of tax advice, you will quickly lose a lot of money, starting with tax allowances and ending with tax structuring for different legal forms.

Hiring a tax advisor: mistakes + 3 tips

Let’s summarize the four key risks again:

1. Intensive, regular cooperation; means commitment and time for tax consultant changes
2. Amount of monthly and additional costs; money missing for reinvestment
3. In the long term: lose money (pay too much tax, plus costs for tax advisor, lack of reinvestment) due to lack of qualitative / quantitative advice

Source: Lukinski.de, tax consultant for companies

This leads to the following question, how do you find a good tax accountant?

Find a tax advisor: 3 tips

Do I have to hire a tax consultant? What tasks does a tax consultant perform? How much does a tax consultant cost? Here you will find the answers to your questions and much more information on the subject of tax consultants in the area, finding tax consultants, costs, tasks, financial accounting, annual financial statements and taxes in general – but let’s start at the beginning.

• Find a tax advisor: 3 tips

Tax consultant in the vicinity

Nearby Tax Accountants – Find a good tax accountant near you? We have searched the internet for you for days to find the best recommendations for tax consultants in your area: Hamburg, Berlin, Cologne, Dusseldorf, Munich, Stuttgart & Co. for your private tax return or income tax return or more complex accounting for companies, from monthly financial accounting to annual financial statements. Including adresses, telephone numbers and website.

• Tax consultant in the vicinity

Digital Avatars & Campaigns: Made in Europe

The biggest virtual influencer Lil’ Miquela is leading the way, with millions following her on Instagram. Shudu was on the cover of Harper’s Bazaar. Zoe was just the first virtual model at Berlin Fashion Week. Ella is currently in Buffalo’s first diversity campaign. Increasingly, you read “digital models are taking over the runway.” We now meet the man who does VR campaigns and shows. Virtual reality, fashion brands, Instagram, we look forward to hearing his answers!

In conversation: Stephan M. Czaja, founder CXMXO and CM Models.

FIV: How did it come about that you now work with virtual models?

Honestly, we have always been nerds when it comes to marketing, media and of course technical trends. Today, more and more people are talking about AI (artificial intelligence), so what could be more natural than bringing people to life artificially, as digital avatars?

The core team for the development of the technologies started work two years ago. In America, of course, you get a lot of money quickly for such projects, which is why the colleagues from Los Angeles were also faster. Last year, in the summer, we held initial talks with customers, and this year the time had finally come. The first virtual fashion show with digital avatars!

Advantages? Risk minimization, less travel and post-processing

Our goal has always been to find a complement to models who may not be available at the time.

But the technology also has the advantage that 20,000 air miles are not required for every production. Customers do not have to resort to completely virtual avatars, we can also digitize models, so that the flight is saved and a collaboration can still arise.

Customers also have the extremely great advantage that productions can be edited afterwards. After photo shoots, everything is usually finished and no more changes are possible. Here, the light, the location or the clothing can be changed at any time.

A mix of future technology and benefits for customers. We believe the fashion world will accept it! After all, the word fashion stands for trend and novelty.

Diversity Campaign: Buffalo London with Ella Stoller

Virtual hologram: Kim Kardashian’s father

The technology behind it is really extremely exciting! Maybe you’ve heard about Kim Kardashian’s birthday party? One of her gifts was her father, as a virtual hologram. Here we are again at the word fashion, trends and trendsetters, like Kim Kardashian. New technologies take time, need first movers but will establish themselves.

Those who have been there from the beginning will have the best stories to tell!

Experience with virtual models / campaigns

FIV: What experience with virtual models has your agency gained so far? What are the latest projects?

I think the most interesting and recent experience we’re having here with digital avatars is that we’re significantly more involved in the creative process. It starts with the storyboards and goes further and further into possibilities, so that we can even influence gravity.

Creativity has no limits anymore + Brand Avatars

In short, there are no longer any limits to creativity. Really none! Completely independent of location, time and many other factors. This enables a completely new way of thinking, which is not limited by travel plans, schedules or other cost factors.

The first job for MarcCain was already particularly exciting. A digital fashion show at the Berlin Fashion Week. Besides our Zoe, we created our own digital avatar and three other virtual people. In the fashion movie you see 8 real and 4 virtual models. So our worlds are merging more and more, the real and the digital.

Tip. Our article on the show: Future fashion show? VR fashion show in Berlin.

Video: Fashion Movie @ Berlin Fashion Week

The MarcCain fashion show:

What’s next? The near future

FIV: Following up again, can you also tell us something about new projects?

Our projects are usually all done under secrecy, so I can’t say anything about new advertising campaigns from clients! But what is important to me is the storytelling around Zoe. So also the question, how can we make her even more “alive”?

What I can tell you already is that one of the next projects will be the first publication in a fashion magazine. For this magazine shoot we are currently setting up the team. Classically with photographer, make-up artist, stylist and of course our development team.

Lil’ Miquela, Shudu: USA vs Europe

FIV: So far, the most famous virtual models / influencers come from the States. How do you see the current hype in Germany?

You’re talking about Brud from Los Angeles. He was the very first to really revolutionize the market just before us. His project Lil’ Miquela was the very first and really blew up the imaginable. I don’t know exactly what specific brands he worked with, but I think half the high fashion industry was already involved.

Germany and Europe are not exactly known for innovations, start-ups or the like. It’s the same with our virtual avatar. It took us eight months alone to get the first project up and running. Of course, everyone has reservations, but do you need that?

Start Ups and Ideas in Los Angeles

As a company in Los Angeles, you don’t have these problems, because new ideas are born here and are very welcome. Just think of social networks, Facebook, Snapchat, etc. All of this comes from California. In Germany, everything takes longer, so it also means a lot more investment for us. Nevertheless, we are proud to be the first next to Brut and therefore also the very first in Europe.

And if for the goals this year do not reach, we just move to LA!

Real models vs virtual models

FIV: Do fashion labels prefer to work with virtual models or with ‘real’ models? What are your experiences?

Currently, I don’t think any label prefers to work with virtual models. The technologies are only just being developed, but they are improving all the time. Coverage of the topic has only been around for a little over a year. So the topic is so new, we still need a little time!

Technology: Digital fashion / models for online shops

FIV: What are the advantages of working with virtual models?

You have to see the benefits first, of course. And that’s why the first movers that are out there now are so important. They show the other brands that the investment is worth it. Here’s a small example: a large part of fashion customers have online stores. Accordingly, with each new collection, new season, new photos are needed. The garments have a very long way to go before they finally reach the stores, usually shipped for weeks and then arriving at some point in the central warehouse. Now the pictures have to be taken, at the same time the distribution to the individual stores takes place. A lot of effort, in that everything has to fit.

Only 3 photos for digital fashion

With our technology, all it takes is three photos of the garment and we can attach it absolutely authentically and realistically to a moving body of a virtual model. With wind, gravity and everything that goes with it. The big advantage is that the photos can theoretically already be completed in production. So while the garments are still being packaged, the photos for e-commerce are already ready.

That means in principle there are two big advantages. One is for relatively standardized mass production and the other is the PR effect, because our lives are becoming more and more digital.

Storytelling, jobs and social media future?

Today, the first generation has grown up knowing only a life with iPhone and Co. Storytelling has always worked. Legends and stories, later written, then books, later Hollywood and in the future maybe digital people. Lil’ Miquela shows how successful this can be with meanwhile 3 million followers on Instagram.

Another advantage, especially for productions, marketing agencies and advertising agencies is that there is no risk of failure. Anyone who organizes large productions, for example for commercials, knows that sometimes up to 50 people can be on set, plus 20 booked cars and maybe even a helicopter. Suddenly the model doesn’t show up. Of course, the same goes for any other person relevant to the shoot. Is the stylist is not there for the clothes, makeup artist, photographer…. So shoots have much less risk from outside influencing factors.

Cooperation and effect of virtual avatars

FIV: What does a collaboration with a virtual model look like? So, how can you imagine that?

Very briefly described, you actually have no limits in creativity. You can do a photo shoot on the moon, create your own digital avatars and all that exclusively for your brand. Clothes, accessories, etc. are all interchangeable. Accordingly, you’re no longer just working on time, but really on creativity. This is super interesting especially for campaigns and advertising agencies. In addition, different images can be transported very well, e.g. innovations, future-oriented thinking and digital solutions.

Otherwise it’s the typical game in marketing or the advertising agency. Many ideas are available, but many have to be discarded because they are too expensive or too complex.

How much does a campaign cost?

FIV: Can you also tell us something about the prices? How much does the collaboration cost if you want to book virtual models or such a production?

Exact prices of course always differ depending on the effort, quantity, preliminary work, but also the media use afterwards. Roughly speaking: The production does not pay off with one part, but who has to produce 20 or more parts, can possibly already think about the cooperation when we talk about e-commerce.

It always pays off for campaigns. Just from the aspect that further media can be created from the already existing production in no time. Details can be changed. In addition, there is of course no risk of failure, as mentioned before.

Hype for digital avatars: Lil’ Miquela & Co.

FIV: Where does the big fascination around virtual influencers, like Lil’ Miquela & Co, come from?

The fantasy is just simple, yet I like them. Everyone knows Superman or Captain Jack Sparrow from Pirates of the Caribbean. Of course, none of the characters are real, but still you are interested in each new story the people behind it.

Series and actors are like avatars: We want more stories

Everyone outside the US knows Hollywood only from movies, TV and series. Who knows if Brad Pitt really exists? You know what I mean! The world is already a bit digital today and it’s getting more and more so! This aspect also plays a role when people think about avatars.

You just mentioned it yourself, how the Lil’ Miquela phenomenon has taken off. On Instagram you see private moments from her life, she produces new photo campaigns, even music videos.

Now if you remember the story from the beginning, i.e. the hologram of Kim Kardashian’s father, you’re already seeing the next leap in technology here too. Bringing digital avatars into the real world.

We will definitely not get bored!

FIV: Will VR people replace real models & influencers one day?

No, absolutely not. Virtual people, or avatars and models or even influencers will always be only a meaningful addition to the real existing. However, they can experience different stories, precisely because of the complete freedom in creativity. Ultimately like a Netflix series, only packaged differently.

Thanks for the answers!

In conversation: Stephan M. Czaja, founder CXMXO Group and CM Models.

Ella & Zoe: Digital Avatars of CM Models

Reading Tip: Digital Avatars

Read even more about digital avatars here including a list, with all the virtual influencers!

Lil’ Miquela: The LA Phenomenon

Gigi Hadid, Cara Delevingne and Hailey Bieber outdated? Virtual influencers like Lil Miquela or Bermuda are conquering Instagram and the model business. The fact that they already have significantly more followers on social media than other influencers proves the success of this forward-thinking invention. However, anyone who thought that these virtual influencers were boring and without character was sorely mistaken. In addition to an individual personality, the models have their own lives in which they report on their leisure activities with the help of story telling. However, the trend of these virtual stars has not only been on Instagram for a long time, a music career has also been predicted for them. Within four years, virtual influencer Miquela Sousa has built a remarkable career.

• Lil’ Miquela

Virtual Influencers: List

You know the models of the 90s like Naomi Campbell or Claudia Schiffer. We dive into the world of digital models, influencers and Instagram stars. Virtual influencers are conquering the market and are no longer hype. It’s all about fashion and what buzz these virtual personalities are creating in the fashion world. Who are they? Who created them? Are they replacing the supermodels of millennials? Are Kendall Jenner and Gigi Hadid simply being replaced? What role do you play in today’s fashion and social media world. We introduce you to models including Lil Miquela and Shudu Gram, the two first virtually created models and what exactly makes each of you so special. And how they managed to get on the magazine covers of Vogue and Harper’s Bazaar.

• Virtual Influencers

Taxes & duties in Germany: income, corporation, assets

Taxes in a nutshell: In general, a tax is defined as a certain financial contribution to the state, which has to be paid on wages, income or assets. The word tax comes from Middle or Old High German and can commonly be translated as “support” or “support”. This is apt in that taxes serve as the main source of government revenue and are thus essential to the state. They form the primary portion of the state budget, which in turn finances and makes expenditures in the interest of the common good.

About three quarters of tax revenue in Germany is collected from just six types of tax:

• Sales tax
• Income tax
• Wage tax
• Trade tax
• Corporation tax
• Import sales tax

Live at it: Tax Coaching – Experience & Tip

Want to become a real estate investor yourself? If you write about real estate, you need to educate yourself. More specifically, when it’s no longer just about owner occupancy, but also renting. Because, the biggest item on the expense side is taxes. The more you earn, the more taxes you have to pay – the problem is clearly defined, what to do? Learn from experience, from those who have made it. Many say that the Next Level Tax Coaching is the best in Germany. Reason enough to be there yourself.

Read more about tax coaching here:

• Real estate: Save taxes

Tax classification – business capital, property, land acquisition, etc.

What taxes are there? In addition to the taxes already mentioned, there are many other types of taxes, from A for general taxes to V for excise duties. For the sake of clarity, taxes in Germany are divided into categories according to certain criteria, depending on the perspective from which they are viewed. The following four tax classifications are common:

• Financial Statistical Classification
• Business classification
• Financial classification
• Classification for tax purposes

Let’s take a closer look at the tax classification: What are taxes on? On the one hand, there are taxes levied on income. These include, for example, trade income tax and trade capital tax, property tax, wealth tax and corporation tax. Together with the other taxes, they can be further divided into income taxes and other taxes.

Examples of income taxes

• Trade tax
• Licence tax
• Property tax
• Business capital tax

Examples of other taxes after income

• Wealth tax
• Income tax incl. church income tax
• Corporation tax
• Inheritance and gift tax

On the other hand, there are taxes on the use of income, i.e. types of taxes that are levied on purchases of goods or services or on savings. In addition to general taxes, these include consumption and excise taxes, taxes on real transactions and special taxes on legal transactions. The best-known types of tax here are sales tax and motor vehicle tax.

Examples of taxes on the use of income

• General taxes: Value added tax
• Taxes on consumption and excise duties: Mineral oil tax, Other taxes
• Real transport taxes: motor vehicle tax
• Special legal sales taxes: real estate transfer tax, insurance tax

Consumption and excise taxes declared as “other taxes” include taxes on salt and sugar, on coffee and tea, and on beverages (plus specific taxes on beer and sparkling wine). Tobacco products and illuminants are also among the products subject to excise duties. Furthermore, they include amusement tax as well as dog and hunting tax. Taxes paid on luxury horses and motorboats also fall under this collective term, as does the tax on second homes. Customs duties and casino taxes are special types of taxes and are therefore not included in the above scheme.

So it’s quickly apparent – if you don’t want to sacrifice your consumption or avoid spending by saving excessively, you should learn how tax saving works properly:

Direct and Indirect Taxes – Burden, Debt & Obligation to Pay

In addition to the general classification of taxes, there is also a distinction between direct taxes and indirect taxes. The criteria used for the classification or allocation are based on the one hand on the assessment and collection technique and on the other hand on the passability of the taxes. Furthermore, the tax capacity is examined.

Which taxes are considered direct or indirect is assessed on the basis of three criteria:

• Assessment and survey technique
• Overwhelmingness
• Tax capacity

In essence, however, only one simple question arises: who is the tax bearer and who is the tax debtor? After all, in the case of direct and indirect taxes, it is a question of the relationship between the person who bears the tax burden and the person who has an obligation to pay the authorities.

Direct taxes explained simply – income, car, corporation & land

Direct taxes are assessed and generally cannot be passed on. They are interpreted either personally or objectively, depending on the ability to pay. If someone is both a taxpayer and a debtor, he is considered a taxpayer and is directly responsible for paying all taxes due to the tax office.

Examples include:

• Income tax
• Vehicle tax
• Corporation tax
• Property tax

Wage and capital gains taxes are considered withholding taxes and are classified as direct taxes, although they do not follow the principle of immediacy.

Indirect taxes explained simply – mineral oil, electricity, tobacco & turnover

Indirect taxes are set on the basis of tariffs and are usually passed on in part or in full to the final purchaser. Their performance is indirect on the use of income and property transactions. If a taxpayer is not also a tax debtor, he pays the taxes due only indirectly, namely to the tax debtor. The tax debtor then forwards these indirect taxes as a taxpayer to the appropriate authority.

Common examples are:

• Mineral oil
• Electricity tax
• Tobacco tax
• Sales tax

It is easy for taxpayers to keep track of what taxes are being paid:

Tax Saving Tips: Marriage, rent, allowances & donations

So there are lots of taxes and many of them we pay without really being aware of it. This can quickly become expensive, especially for high earners who like to invest a lot. Saving taxes by investing is a good option in this context. It is therefore all the more important to know which tax breaks are available, which tax advantages can be of benefit to you and where taxes can be easily and efficiently saved or completely avoided.

Tax relief for child, severe disability, foundation & Co.

Tax allowances are state support measures and are granted in the case of reduced ability to pay, for example due to raising children, in the case of increased costs based on a disability, among other things, as well as for certain actions. The latter includes, for example, donating to a charitable organisation or foundation.

Tax benefits are provided by the following provisions:

• Advertising costs
• Special editions
• Exceptional charges
• Allowances

Tax advantage with marriage, renting, child benefit & Co.

Tax advantages arise from certain events, first and foremost marriage or the registration of a civil partnership, because then the so-called splitting of spouses’ income is applied. The selection of the right combination of tax brackets can also have a noticeable financial and, above all, tax effect in marriage and, last but not least, a partnership can result in a double lump-sum savings amount as well as significantly higher tax-free gift amounts.

Other factors for tax advantages are children in the sense of child benefit or child allowances. Classically, real estate also brings tax advantages: A condominium, for example, can result in tax advantages insofar as craftsmen’s work is carried out in an owner-occupied apartment or expenses are incurred when renting out the condominium.

Tax benefits for marriage, civil partnership:

• Marriage splitting
• Combination of tax classes
• Double saver’s allowance
• Tax-free gift amounts

Tax advantages with one or more children:

• Child benefit
• Child allowances

Real estate tax benefits:

• Handicraft work for owner-occupied dwelling
• Expenses in connection with the letting of property

Tax Coaching: Save taxes like the big boys

Due to the multitude of taxes and the many possibilities to receive subsidies or to secure tax advantages, it is not at all easy to make a general statement about tax savings. In addition, it makes a big difference whether the savings are to apply to a company or a private individual or freelancer in self-employment: A GmbH is set up there differently than a GbR, a pensioner has other possibilities than a sole proprietor or student. Particularly in the case of large and high-value capital investments, caution is required in order not to put one’s foot in one’s fiscal mouth.

Tax saving tools: up to date, high quality & serious

What is the best way to save on taxes? Figuring that out isn’t even that easy, because there is help available through different educational media. Some of them are paid, others are free. The most important criteria when choosing the right tax saving tool are timeliness, quality and seriousness.

Here are some examples of tax saving tools:

• Training and development
• Tax Coaching
• Tax consultancy
• Books and e-books
• Software and mobile apps
• Internet platforms (chats, forums, blogs)
• Internet portals
• Social Media (Facebook, Twitter, Instagram, YouTube)

Tax coaching & personal advice: learning from professionals

Further education and training measures are usually costly and time-consuming. In addition, they are often tied to certain prerequisites, such as a completed vocational training or several years of professional experience. This often lacks the time and financial resources, plus: the know-how to save taxes can only be a long-term goal here and does not give immediate help.

Alternatively, there is the possibility to participate in a tax coaching or seminar or webinar, but also here the factors of time and money are in the foreground. Due to the wide range of offers, it is also difficult to recognize reputable providers as such. An appointment with a tax consultant therefore seems to make sense, but the expertise here is usually charged at an extremely high cost. Precisely because of their studied expertise, it can also be difficult at the comprehension level to communicate clearly and technically correctly or to maintain an overview in the confusion of technical terms.

Tax Coaching Media: Book, CD & Mobile App

Books are, of course, a great option for those who love to read and want to gain knowledge in a DIY way. However, books quickly become outdated and the tax topic in particular is revisited every year. Moreover, the only way to tell which books are of quality is by looking at user reviews. However, these can also be purchased and many users prefer to comment rather than provide accurate product reviews. The price range for tax-saving guidebooks is on average 10.00 euros and usually between 200 and 1,000 pages per book.

E-books are often a little cheaper and can be accessed anywhere. The prerequisite here is, of course, a suitable technical device with sufficient storage space. The factors of topicality, quality and evaluation correspond to those of hard and soft cover books.

Books on tax saving are often heavy fare and tedious to read through.

Tax saving software is available in the form of CDs for the computer and apps for the tablet and smartphone owners. Here, too, many products are available and it is advisable to buy the latest version every year in order to stay up to date in terms of tax law. Assuming an end device that meets the technical requirements, the cost range for reputable programs on CD, for example, is around 20.00 euros to 40.00 euros and more.

The range of tax-saving apps is so extensive and confusing that a purchase – especially of a higher-priced product – should ideally only be made on the basis of a reliable recommendation. In both cases, the user-friendliness of the software can usually only be determined after purchase and installation on the end device.

Free of charge: Blogs, Portals, Networks

If you don’t want to spend money to learn more about efficient tax saving, the Internet is the right place to go: For saving taxes without spending money, there are many free online offers in the form of various Internet platforms, portals and social media networks that provide an extensive repertoire of tips, tricks and specialist information free of charge. Here, professional competence is the primary decision criterion, because tax tips should only be accepted from reputable sources.

Internet platforms: Tax saving tips in forum, chat room & blogs

Internet platforms: often dubious and arbitrary – On Internet platforms, for example, there are forums and chat rooms through which users can virtually exchange views on any or a given topic. The focus – and the risk – here is on personal opinions, subjective knowledge and individual thoughts. A blog, unlike forums and chats, is an often diary-like website that is publicly and unrestrictedly accessible to all web users. The information is completely subjective and of arbitrary content and is regularly expanded with further content. A certain seriousness cannot be assumed with internet platforms, as anyone can hide behind a virtual persona, user name or profile picture or pretend to be someone else. There is often a lack of orientation aids and clarity, so that research is time-consuming and yields questionable results.

Internet portals: Tips & tricks from tax experts

Internet portals: semi-serious marketing tools – Internet portals are also publicly accessible websites and usually have a lot of information on a concrete and specific topic. Some portals, on the other hand, publish a manageable amount of information on a variety of topics, so that expertise can only be assumed to a limited extent. Specific information must be filtered out and evaluated independently. However, many operators use Internet portals significantly to attract readers to their site and to win them as potential buyers for their paid products. In this sense, the web articles are to be understood as a marketing tool. Specific questions are not possible or desired, since many portals generate their articles via third-party authors and have only limited expertise in the various subject areas.

Tax optimization: “paying” taxes like Trump, Springer & Co.

If you want to understand how the “big guys” “pay” or save tax, then you should definitely also take a look at Lukinski. Actually a real estate agent for luxury properties, he often writes about tax saving tricks for entrepreneurs and companies in his blog.

• Convert taxes into assets

Here are two more examples of tax models from the blog:

US President Trump pays only 750 euros in income tax, according to the New York Times. It gets even better, Trump paid no income taxes in 10 out of 15 years starting in 2000, according to the New York Times. Are these questionable tax saving strategies or just tax optimization? How does he do it?

• US President pays only 750 euros income tax

Or here: Shares worth 1 billion, almost tax-free. “Billion-dollar gift for Springer CEO: shares largely tax-free”? Can I do that too? The entire share package has a volume of 15%. In the transfer, a law was exploited that should prevent the possible insolvency of companies. Due to the high volume, Axel Springer SE could…

• Gift worth billions: Shares largely tax-free

Social media networks: Influencer tips on Instagram, YouTube & Co.

Social media networks: only to be viewed with scepticism – In recent years, social media products have become more and more prominent and their use is now a matter of course for many. Since social media platforms such as Facebook, Twitter and Instagram, for example, are mostly flooded with misinformation and fake users due to a lack of moderation and verification, it is rather less suitable as a reliable source of information for specific and complex topics such as tax saving.

Influencers often use trend waves and marketing strategies to raise their own profile and generate more reach. The truthfulness of their posts should therefore always be met with a healthy degree of scepticism. In addition, most knowledgeable people tend not to publish their knowledge on social media platforms, but rather on their own websites or not at all.

The only exception are verified video channels on various video platforms such as YouTube, which usually provide free insights into their areas of expertise. The high quality of their videos can be easily deduced from likes and comments, whereby the latter, in contrast to product reviews on Amazon & Co. are usually formulated in a more critical and topic-specific manner. Often, a personal exchange with the channel owner via comments or private message is possible. Another advantage results from the video format itself, as the YouTube influencer can explain complex topics clearly and gestures, language and wording often make it much easier for the viewer/listener to understand.

Google Search with SEO, SEA & SEM

In the age of modern media, a general search usually starts with Google. But in fact, the virtual search engine is not that helpful, because the search algorithms are often not intuitively understandable, advertisements are placed upstream and push organic content off the first pages. If you don’t know the right operators, you will often lose a lot of time with Google Search and in the end you might not even find exactly what you are looking for. Search Engine Advertising (SEA) places paid ads for companies and entrepreneurs; keyword research only works to a limited extent because not all relevant content has been designed for Search Engine Optimization (SEO);

When it comes to Google search, be careful because Search Engine Marketing (SEM) doesn’t necessarily show you results that are relevant to you:

Search Keyword: save taxes

With the keyword “save taxes”, the top search results show a colourful mix of newspaper articles, business and employee advice, tax software and tax apps, internet portals and an online platform for scholarships. Stiftung Warentest, of course, also has year-end tax tips. Then there’s YouTube, Amazon and the usual ads from Google itself. So, according to search engine marketing (SEM), the most hits are for sites that offer their own tax-saving products or dispense a broad mass of information to a non-specific target audience instead of subject matter expertise.

Search Keyword: save taxes help

Even with the addition of “help”, Google lists the same suspects almost unchanged. In addition, there are the Aktuell Lohnsteuerhilfeverein e. V. and the Vereinigte Lohnsteuerhilfe e. V., which only make their expertise on income tax available to club members for a fee and are primarily concerned with saving taxes as employees, pensioners, civil servants and students.

Search Keyword: save taxes seriously

Only at “Steuern sparen seriös” you will find a law firm and also a field report on Alex Fischer Steuer Coaching. Further down follows a YouTube recommendation to his YouTube channel.

But who is this Alex Fischer? A brief look at his curriculum vitae shows: Alex “Düsseldorf” Fischer is, by his own admission, an entrepreneur, real estate investor and business strategist. He is a book author and has a website with over 600 videos. Since May 2013, Alex Fischer has built up a following of 102,000 subscribers on his YouTube channel and convinces with almost 450 free explanatory videos on the topics of real estate, financing and also tax saving. His videos have so far (as of 10/2020) generated over 12.5 million views – an impressive figure for this range of topics.

After watching a few shorter videos, it becomes clear: Alex Fischer meets his viewers personally and at eye level. His charismatic demeanor and easy-to-understand explanations of even complex and dry topics such as pension statements and payment flows are certainly one of the reasons for the strong response on YouTube. The most popular video on the subject of “saving taxes” has been the one-hour contribution entitled “Save taxes by really understanding the tax game”. However, his YouTube channel also features many short videos with professional tips and tricks of around five to ten minutes in length, which are perfect for a short educational break to learn how to save taxes quickly and easily.

Theory & practice expertise through tax coaching

In a nutshell: The bottom line says that there are many different mediums and tax saving tools to gain knowledge. Especially the little tricks for everyday life with taxes can often be found without much effort. Ultimately, however, we definitely recommend tax coaching for investors and high earners.

Tax consultants – experts in tax declaration

It is not enough to find a tax expert who has acquired the theoretical knowledge during several years of study. A tax consultant, for example, undoubtedly possesses comprehensive expertise in the subject area of “taxes”, but his or her task essentially consists of keeping records of business cash flows, preparing annual financial statements and tax returns, and reviewing tax assessments. In addition, there are the wage and salary statements as well as the representation of one’s own clients in disputes. Accordingly, a tax consultant can cost a lot.

Their know-how therefore extends primarily to tax declaration and legal enforcement as well as to answering business management questions. In-depth individual and ongoing tax law advice and optimisation of tax structuring is rarely covered and if it is, you may fail due to your own lack of knowledge and understanding.

Are you looking for a good tax advisor near you? Read our recommendations all over Germany here! Find a tax consultant

Tax coaching – numerous offers offline & online

Following the principle of supply and demand in the market, there are masses of providers for tax coaching, design and optimization, and intensive tax consulting. As already mentioned above, the classic self-learning offers and educational media such as books, e-books, CDs and mobile apps are often only sufficiently helpful in terms of saving taxes.

Internet platforms are also full of providers without any significant expertise, let alone field-tested experience in the world of taxes. Especially on social media platforms, there are many young influencers who have just graduated from school or started their studies and, despite their lack of expertise, give lots of tips and advice. Their seriousness can and should therefore be questioned in any case and examined in detail in each individual case.

Taxes are a matter for the boss – practical experience counts

It is therefore essential to find a specialist who can come up with practical knowledge and knows the mistakes and pitfalls in tax law from personal experience. Someone like this has already experienced and overcome the problems you may be facing at the moment and knows exactly what you need to do and what works.

“Taxes are a matter for the boss” is a principle that is fully applicable here. Tax structuring can hardly be delegated to the tax advisor you trust, since he does not know your actual situation at all and even less knows which ideal you are aiming for. In the end, the management itself must develop a professional understanding in order to lead the tax advisors and staff positions in a targeted manner to where their knowledge can be used in the best interest of the company in order to advance and continuously improve the entire company.

Tip: Professional online tax coaching

With the above information and tax saving tips you are well prepared for saving taxes in everyday life. However, if you have already built up a certain amount of assets and invest a lot in capital and financial investments, you will only smile at these tips and tricks. With an annual income of more than 80,000 euros, the little 1×1 of tax saving is no longer enough, because then it gets really complicated and instead of cent amounts, it’s about four- and multi-digit euro amounts. For this reason it is often said: “Taxes are a matter for the boss”. Because only a boss who knows about taxes himself can take his company to the next level.

Successful real estate investor and entrepreneur Alex Fischer has already proven his expertise and has been playing in the top league in terms of tax law and entrepreneurship for several years. He shares 80% of his experience with the world for free via his YouTube channel. However, if you want to take your life into your own hands and reach the next level as a tax-savvy top entrepreneur, you should consider a comprehensive and content-rich tax coaching.

Apply for the Next Level Tax Coaching

After the application process, the welcome area awaits you with a personal video welcome from Alex Fischer. In addition to the basics and typical mistakes and traps in tax law, you can expect numerous chapters on the topic of “tax planning and tax optimization”. You will not only learn how to save taxes efficiently and how to take advantage of subsidies, but also how to structure your company better or how to put real estate into constructs. In total, you will receive eight weeks of professional tax content with a high level of information, you can personally exchange ideas with like-minded people and specialists and even participate in the success of the tax coaching yourself. The testimonials of those who have already participated in a tax coaching by Alex Fischer speak for themselves.

If you would like to learn more about Next Level Tax Coaching by Alex Fischer:

• Alex Fischer Tax Coaching – Application
• Tax Coaching Experiences – Participant Interviews

If you would like to read up a bit first, I recommend the FIV experience report. Here you can learn everything about the basics of Next Level Tax Coaching and follow our personal experiences week by week:

New! Finally done: Tax Coaching from AF

If you write about real estate, you have to educate yourself. More concretely, when it is no longer just about personal use, but also about renting. Because, the biggest item on the expense side is taxes. The more you earn, the more taxes you have to pay – the problem is clearly defined, what to do? Learn from experience, from those who have made it. Many say that the Next Level Tax Coaching is the best in Germany. Reason enough to take part yourself. You want to become a real estate investor yourself?

Read more about tax coaching here:

• Tax optimization: Coaching

Tip: Capital investment – portfolio, facts, risks

Our XXL guide to investments tells you everything you need to know about investments. From stocks and cars to precious metals and designer fashion to jewelry and asset management.

Capital investment XXL – real estate, cars and much more

Capital investment – 1,000 euros, 10,000 euros, 100,000 euros, 1 million euros from when is it worth investing in real estate, shares, funds, overnight money, cars and art? Consumers can use different possibilities to invest capital. There are many mistakes. Therefore, investors should know in advance what risks they actually want to take. For the final selection of the individual capital investment is important, how much capital you want to invest. Already knew? Real estate can offer additional tax advantages when investing capital.

• Investment XXL