Interview: This is what it’s all about

As an entrepreneur, it is important to think from the outset about how one’s own assets and business can be secured and maintained in the long term. A family foundation can be an interesting option here, as it not only offers asset protection and inheritance planning, but can also have potential tax advantages. By establishing a family foundation, for example, entrepreneurs can reduce their tax burden and thus achieve tax savings.

We talk in the interview about:

1. What is a family foundation, why and when do you “need” it
2. What are the 3 central advantages of a foundation
3. What about taxes? Corporation, donation, inheritance & Co.

We conduct the interview with Immobilien-Erfahrung.de (in conversation “IE”).

What is a family foundation?

FIV: Let’s start with an overview:

IE: To ensure that family assets are preserved in the long term, it is important to protect them from various risks such as inheritance disputes, creditors and the tax office. One possible option here is to set up a family foundation, which can provide the founder and his family with economic security over generations and protect the assets from being broken up. This is a legally independent foundation that manages real estate, company shares and other assets.

So in a nutshell:

• Protection of family assets over generations
• Avoidance of inheritance disputes and break-up of assets
• Possibility to manage assets such as real estate and company shares in the foundation
• Tax advantages due to the taxation of the foundation with corporate income tax
• Possibility to avoid the right to a compulsory portion of family members

Well-known family foundations in Germany

FIV: Strong, because we have many articles on the subject of first capital investment buy & Co. So that it does not become too abstract for our readers, what are the most well-known family foundations in Germany? Who do you know? Can you tell us 3 examples?

IE: Yes, of course, there is the Bertelsmann Foundation, for example, founded by Reinhard Mohn, is one of the largest foundations in Germany and is involved in the areas of education, society and culture.

There is also the Robert Bosch Stiftung, founded by Robert Bosch, promotes projects in the fields of health, science and technology, and international relations. Another flagship would be the Krupp Foundation, founded by the Krupp family, is involved in the areas of culture, education and science as well as in the promotion of social projects.

Then there is:

• Aldi Nord and Aldi Süd Stiftung Stiftungs GmbH
• Otto Group Foundation
• BMW Foundation of Herbert Quandt
• And many more!

When does a family foundation make sense?

IE: Roughly speaking, very roughly speaking:

It only really makes sense to set up a family foundation with a capitalization of around 1 million euros.

Protection of family assets and businesses

FIV: Now let’s get to the core of the interview, the why and wherefore! What does protecting assets mean, from whom and why should I protect my assets – once I am a millionaire?

IE: Even though the family foundation is not tax-exempt, several factors can make it worthwhile to establish:

Raising a family is often a long and arduous process of hard work and hardship. It is therefore understandable that entrepreneurs are concerned that their legacy will not be carried on in their spirit after their passing.

One way to alleviate these concerns is to establish a family foundation.

Divorce, inheritance, family dispute – examples

Establishing a family foundation ensures that the entrepreneur’s assets remain in the family and are not fragmented by divorce or inheritance.

A foundation can also help avoid the breakup of the company, as foundations do not issue shares that can be bought out. This provides effective asset protection, as the foundation retains control over the assets and manages them in accordance with the wishes of the entrepreneur and his family.

In addition, family foundations can also help preserve family peace by providing a clear structure for the management and distribution of assets.

However, the foundation can also play an important role in supporting charities and non-profit projects, which can be of great importance for entrepreneurs who want to engage in social responsibility, of course also in the point of self-PR.

Inheritance: taxes and protection

FIV: According to the Hans Böckler Foundation, the annual inheritance volume in Germany, including gifts, will amount to up to 400 billion euros in the period up to 2027 – per year. Inheritance is an important topic. Therefore the question, what can a family foundation do in terms of inheritance?

To illustrate this, here are the figures for the number of taxable inheritances and gifts in Germany from 2008 to 2021.

400 billion per year

180,000 inheritances per year

You can find more statistics at Statista

IE: By establishing a family foundation, family members can be provided with binding security during the founder’s lifetime. The clear structure of the foundation can help to defuse potential inheritance disputes in advance. This can be of great advantage, especially in the case of large estates or complex family structures.

Inheritance and mandatory shares

Another advantage of setting up a family foundation is that the founder can avoid the claim of children or parents to his inheritance (so-called claim to a compulsory portion) if he transfers the assets to the foundation ten years before his death. This can be particularly important if the founder intends to concentrate his assets on certain family members or if he wishes to support a charity, for example.

In addition, the establishment of a family foundation can also help to protect the assets from creditors. As long as the assets remain within the foundation, they cannot be seized by the founder’s creditors. This can be important for entrepreneurs who have a high personal liability risk or who operate in a particularly high-risk business field.

Tax advantages: Only 15% tax

FIV: Now to question that everyone is most interested in, what is it about “saving taxes” when you set up a family foundation?

IE: In Germany, the establishment of a family foundation can bring tax advantages. The foundation is subject to corporate income tax, which can lead to a lower tax burden compared to other types of companies such as a GmbH, which have to pay trade tax. In addition, donations to the foundation may be tax-deductible under certain conditions.

FIV: Can you explain that in more detail?

IE: Simply put:

You can legally lower your tax burden to 15% with a family trust.

FIV: With a family foundation you can legally reduce your tax burden in Germany to 15%, ok. How does that work and what does a “normal” GmbH pay?

IE: The establishment of a family foundation can indeed help to reduce the tax burden in Germany to 15%.

This is the corporate income tax levied on the income of the foundation.

In contrast, a “normal” GmbH must pay trade tax, which can vary depending on the municipality. In addition, there is corporate income tax, which is levied on the income of the GmbH and is usually higher than for a family foundation.

However, the 15% corporate income tax for family foundations only applies up to a certain exemption amount and depends on various factors such as the size of the assets and the structure of the foundation. But it pays off, especially over the years.

But we don’t want to go into too much detail!

Inheritance tax and gift tax

FIV: As far as I know, you also have advantages in terms of inheritance tax and gift tax, especially through the allowances, which are taxed more favorably and can thus be paid in year after year. Can you tell us something more about this?

IE: Unlike charitable foundations, the family foundation does not enjoy any automatic tax benefits – that’s just in advance. Nevertheless, it can offer great potential for tax optimization compared to other corporate forms.

Transfer of assets to the foundation

When assets are transferred to the foundation – in particular when they are established – gift or inheritance taxes are incurred. In the case of a “normal” private foundation, the unfavorable inheritance tax class 3 is generally applied. In the case of a family foundation, on the other hand, the relationship between the founder and the entitled family members (beneficiaries) is decisive. If only the spouse and the descendants (children, grandchildren) are beneficiaries, the favorable tax class 1 applies.

Here’s a tip on the side, we also have a handy gift tax calculator. Here you can calculate what typically has to be taxed.

However, in the case of family foundations, a fictitious inheritance is assumed every 30 years, on which inheritance taxes are incurred. Here, an allowance of 800,000 euros applies, the so-called double child allowance. Otherwise, the general regulations for inheritance and gift taxes apply. However, if there are favored business assets, the corresponding exemption discount can lead to significant tax savings.

If you would like to learn more about this, please visit our blog. I can recommend, among others, the articles Asset Protection and Vermögensschutz durch Familienstiftungen by our foundation expert.

FIV: Thank you for the insight into family foundations!

Summary: 10 Learnings on the Family Foundation

Let’s briefly summarize the most important facts for you.

	Learning foundation
1	A family foundation provides asset protection and estate planning for family assets and businesses.
2	A family foundation can protect assets from divorce, inheritance and break-up, thus avoiding inheritance disputes.
3	A family foundation provides a clear structure for managing and distributing assets and can preserve family peace.
4	By establishing a family foundation, family members can be provided with binding security during the founder’s lifetime.
5	A family foundation can circumvent the claim of children or parents to the inheritance (claim to a compulsory portion).
6	A family foundation can protect assets from creditors.
7	A family foundation can be used as an instrument of social responsibility.
8	A family foundation is subject to corporate income tax and can thus reduce the tax burden to 15%.
9	A family foundation offers great potential for tax optimization compared to other corporate forms.
10	In the case of a family foundation, the relationship between the founder and the beneficiary family members is decisive for the tax classes for gift or inheritance taxes.

What exactly are business expenses?

The income tax law regulates in § 4 quite clearly what is meant by the term business expenses: It is all expenses that are necessary to make your business functional and to keep it. In other words, all purchases and expenses that are caused by your entrepreneurial activities and without which you would not be able to run your business. You can enter these necessary expenses in your tax return, they reduce your profit and therefore your tax burden. However, tax law does not accept all business expenses equally, immediately or even in full.

What types of business expenses are distinguished?

The legislature has sorted all conceivable business expenses into four different categories which are mandatory and decide the respective tax reduction status. These are as follows:

Anticipated operating expenses

The most important rule for all solo self-employed people: Carefully collect all receipts – and start doing so before you even get started with your business. All costs incurred in the preparation phase, i.e. before you are officially registered, can be claimed later as anticipated business expenses. This includes, for example, travel and financing costs, expenses for seminars and the like.

Immediately deductible business expenses

This drawer includes all the bills you need to pay in order to run your business at all. Classically, these include:

• Occupancy costs (rent, electricity, water and heating, cleaning and maintenance),
• Telephone, fax, Internet connection,
• Office supplies (paper, postage, pens) and office equipment (printer, copier, scanner),
• Insurance and car expenses, costs of travel by public transport,
• Training costs,
• Bank Charges.

The acquisition of an asset, such as a company car, is an immediately deductible business expense, but the costs are split over the expected useful life. Here, the so-called depreciation for wear and tear (Afa) applies.

Limited deductible business expenses

Not all costs that you incur in principle but not exclusively in connection with your business are recognised by the legislator as tax-reducing. This is especially true if there is no clear dividing line between private living and business. Thus, in the case of a study in one’s own living quarters, small details often make the difference. The same applies, for example, to the cost of meals while travelling (additional expense) or the expenses for coffee and biscuits that you offer your business partner.

Non-deductible operating expenses

Anything under this heading doesn’t reduce your tax payment. The catalogue is long, here are the most important points:

• Gifts over 35 euros (if 35.01 euros is on the invoice, the whole amount is void!),
• Travel expenses between home and work,
• Entertainment expenses “for business reasons” are accepted at 70 percent, the remaining 30 percent are not,
• Penalties and warnings, reminder fees or interest for evasion.

How can I deduct my business expenses from my taxes?

You simply enter your business expenses in your tax return. They reduce your profit and thus your tax liability. But be careful: In order for the tax office to recognize your costs, you have to prove them meticulously. You should therefore always and consistently keep all receipts and sort them regularly. If you lose an invoice or receipt, the tax officials can estimate the item or cancel it altogether – both are usually bad for you.

If you deliberately or even accidentally declare private expenses as business expenses, then you risk not only a “hefty” penalty payment in the event of a tax audit, you can also rely on the fact that the tax officials will henceforth keep a particularly critical eye on your tax return.

Who can claim business expenses as a lump sum?

Some self-employed people are granted the right by law to have their business expenses credited at a flat rate. These include:

• Childminders (flat rate 300 euros per month),
• Self-employed midwives (25 percent, maximum 1,535 euros per year),
• Freelance journalists and writers (30 percent, maximum 2,455 euros per year).

Members of these professions can, of course, still choose to itemise their business expenses if this is more favourable to them.

Bottom line: how can you lower your tax burden?

All costs and expenses that you incur in direct or indirect connection with your business are part of your business expenses. You should keep all receipts and invoices carefully and sort them regularly so that you can enter these expenses correctly in your tax return. There, they will then reduce your profit and thus reduce your tax liability. With smart accounting software, this is all a little easier to do. You can claim even the smallest amounts, because the proverbial little things save taxes. Just don’t forget to always separate private and business expenses – the tax office reacts very sensitively to such “inaccuracies”.

Tax advice simply explained: 7 areas

The tasks of the tax advisor differ depending on which tasks you take on yourself. The main tasks of the tax advisor are bookkeeping, financial accounting, accounting of wages and salaries, the annual financial statements and of course the general advice on the subject of taxes and tax optimization.

If you are interested in the processes, the individual areas of responsibility, then you are in the right place. Learn about the risks of hiring a tax advisor, as well as 3 tips to find a good, really good tax advisor. After that, we will give you deep insights into the daily cooperation with your tax advisor.

7 typical tasks of tax consultants in companies:

1. Advice on tax preparation and structuring
2. Bookkeeping and financial accounting
3. Payroll accounting and payroll
4. Profit and Loss Account (EÜR)
5. Tax returns (much more on this later)
6. Audits of tax assessments
7. Representation vis-à-vis tax office and court

Source: Lukinski.de, tax consultant for companies

Why is it so important to find a good, reputable tax accountant?

Every euro that is not spent on taxes can be reinvested and generates further returns (profits)

That means if you pay too much tax, your money is gone. You can’t use it for new ideas and projects, which in turn bring you more profits and wealth. That’s why a good tax advisor is so important for your wealth creation.

Tasks of the tax consultant: tax returns, wages & Co.

According to Lukinski, the 4 central tasks consist of these areas in simplified form:

1. Tax returns (monthly filings and annual evaluations)
2. Wages for employees
3. Balance sheets (annual financial statements)
4. Tax structuring (set-up and optimisation)

Consulting: foundation, day-to-day business and development

The most important, especially for founders, is the tax advice and design. Taxes are not only a topic for large companies and corporations. It already starts with the managing director’s salary and tax allowances. In the growth process there are also changes in the legal form of the company (list external). If you look at a possible process, this could include, for example, the following stages that you go through step by step as a self-employed person.

Evolution a company (exemplary):

• Sole proprietorship
• Entrepreneurial company (UG haftungsbeschränkt)
• Limited liability company (GmbH)
• Stock corporation (AG)
• Holding (with subsidiaries)

Tax advice therefore begins even before the company is founded. It continues with simple, initial aspects such as your managing director’s salary and goes on to the change of the individual legal forms of companies.

Processing of tax matters

Consultations on tax structuring, concept creation for tax avoidance, that is of course not the daily routine in the cooperation. The daily cooperation with your tax advisor is mainly about the processing of tax matters, from payroll accounting, bookkeeping and preparation of tax returns, to special requests. A list of key points is worth a thousand words, so here is a summary of what the “day-to-day work” is about, the tasks of the tax advisor.

Tax consultant tasks in detail:

• Bookkeeping; this includes setting up bookkeeping, creating a chart of accounts, bookkeeping itself, account assignment of documents).
• Payroll accounting
• Tax returns; this includes wage tax, capital gains tax and turnover tax advance returns
• Preparation of tax returns; these include income, corporate, trade, sales, gift and inheritance tax returns.
• Preparation of financial statements; this includes the income statement (EÜR), opening balance sheet, annual financial statements, interim financial statements, liquidation balance sheet and explanatory reports
• … and special requests

For the sake of completeness, tax advisors naturally help not only in setting up or setting up the business, but also in winding it up, i.e. insolvency, should something go wrong.

Do I need to hire a tax advisor?

As a company and self-employed person, you are not obliged to hire a tax advisor.

However, if you do not have a sound education yourself or the risks are too great, for example because you are not a small business (with “only” 5,000, 7,000 or 10,000 turnover per year), then you should definitely rely on the support of a tax consultant. The higher the turnover, the greater the risk of making mistakes. After all, in your company you are not only responsible for yourself personally, but also for your employees. They rely on you, as well as on regular salary payments.

The perfect segue to your duties!

Even if you have hired a tax advisor, it is worthwhile to take over certain tasks yourself. Depending on how many tasks you take over in your company yourself (or through employees), you save costs with the tax advisor.

Whose work costs you more per hour: employees or accountants?

Some founders collect all receipts, then give them collected, but unsorted in the office. Already the first mistake, because so happens the assignment, to the individual account movements, by the tax adviser. With 100 receipts quickly a few extra hours, with all the queries.

Your tasks: Work with tax consultants = save money

Every hour that your tax consultant works for you, apart from the regular tasks, costs extra. If you send your documents (incoming invoices and outgoing invoices) unsorted, the tax advisor or an employee has to do virtually everything. Conversely: If you deliver everything sorted, allocated (document = account movement) and assigned, it minimizes the workload extremely.

If you write invoices in which, for example, your tax number is missing, your tax advisor has to point this out, you have to change everything, send it again. If you don’t collect your invoices sorted and chronologically, your tax advisor has to do the job, some receipts are unclear, again queries, time and costs. If you don’t use digital accounting yet, through tax software, receipts still have to be entered by hand. These are all factors that drive up the cost of your accountant.

So, in quick summary, what are your responsibilities when working with an accountant? Because:

Work with the tax consultant = save money

Very basically, there are 4 areas that you should work through cleanly.

Wages, registration, health insurance, etc.

Theoretically, the tax comes first, determined by the monthly accounting. But for us one thing is most important, your employees! Because only through good teamwork, you can achieve good results with your company. Therefore, for us first of all wages, health insurance and other liabilities that provide for a good and effective team.

PS: Good teamwork always means that you are a good motivator for your employees.

Central is the submission of wage data, always on the 15th of the month. In the middle of the month? Yes, exactly, because the payroll data must first be processed, often by external payroll offices, which in turn are commissioned by your tax advisor. This happens especially in smaller tax offices when the necessary personnel resources are not yet available.

This means that halfway through the month you send wages, fixed hours and probable hours to the tax advisor. If you have employees who do not have fixed monthly working hours, you must extrapolate the probable working time. These estimated times will then be offset against the actual working times (of the previous month) in the following month.

Caution, unaware cost trap! Health insurance

Health insurances are not part of the wages and especially company founders often only (!) calculate with the sum for wages and salaries instead of seeing the total costs that arise for employees.

Here’s a small example:

• Salary (transfer): 1.500 €
• Health insurance: 700 €
• Costs for payroll accounting: 15 €
• Central wage costs: € 2,225
• Unconscious costs: + 32,6 %.

The gap between the €1,500 calculated in the mind and the €2,225 actually paid is a whole €725, or +32.6 per cent. Therefore, always remember that the cost of wages and salaries ultimately includes not only the actual payment to the employee, but also the health insurance and payroll costs, which are additional for each individual employee.

This calculation error increases with each individual employee. So, for example, if you hire 5 employees directly at the start of the company through an investment or a loan and do not keep an eye on the costs for health insurance and payroll accounting, you will have a monthly deficit of 3,575 euros in the calculation example. If you have a loan of 50,000 euros or an investment, hire 5 employees, it has consequences quickly. After a period of 6 months, the sudden, supposed loss is already 21,450 euros. Finances are the number 1 reason for the failure of companies.

This is where another statistic comes right into play, 9 out of 10 businesses fail in the first 5 years. The most common reason is lack of funding and capitalization. Supposedly, because maybe it’s just the wrong calculation.

That’s why it’s always important: You have to take an interest in taxes and duties yourself.

Don’t leave the work (only) to your tax advisor!

Let’s recap wages, employees, and health insurance:

• Submission of wage data by the 15th of the month
• Submission of actual and estimated working times (depending on employee type)

Monthly taxes: sales tax, trade tax, etc.

From our long look at employees now to the point at hand, monthly taxes! As a business (except small business) you are obliged to charge VAT if the invoice recipient is in the country (business) and always if the customer is a private person.

The very most important thing for accounting and for accountants:

Each posting (transaction) gets an assignment (document)

Or in other words, for every receipt and withdrawal on your account, there is a receipt that provides proof of what the money was used for.

This monthly evaluation determines the amount of sales tax you have to pay to the tax office.

If your turnover is high enough, the tax office will ask you to pay business tax for the first time. The sales tax is a transitory item. The trade tax reduces your profit, the sales tax does not. Read more about the types of taxes in Germany here.

Once again summarized the most important tasks for you, in the preparation of accounting:

• Each posting a document
• Accounting almost 1 month together
• Submission no later than the 10th of the following month (tax office, previously to tax advisor)

Annual taxes: annual accounts

At the end of the year, depending on the legal form and company structure, financial statements are sent to the tax office.

If you do not file your tax return yourself, the annual accounts will be prepared in full by your tax adviser.

Your annual accounts provide information about the financial situation of your company. The annual financial statement is mandatory for all types of companies and is also sent to the Federal Gazette. In this way, company balance sheets can be viewed by the public. This facilitates credit checks for other companies and gives the tax office an insight into the current situation.

At the end of the year, there are various declarations that need to be filed, depending on the legal form(s) and company construct. For the self-employed, this includes the income tax return or, in general, the VAT return. As I said, all these aspects are taken care of by your tax advisor.

The annual accounts must be submitted by 31 July at the latest. Unless you are assisted by a tax advisor, then the submission can be extended to 28/29 February of the following year.

Now before we get to the 3 tips to find a good tax accountant, first the risks and dangers of hiring the wrong tax accountant.

Compare tax accountants: Risk when hiring

You want to find a good accountant! Because you want to avoid risks and dangers, after all, it will cost you money if you hire the wrong firm for your accounting. Ultimately, also a reason why startups fail. Cost of additional processing, advice and service and of course losses, for example if tax benefits are not taken (quote above). In the article on Lukinski, 3 specific risk factors are described that usually only become apparent after years of working together. The 3 risks first at a glance.

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

Learn even more about 3 big risks in contracting here:

• Hiring a tax advisor: 3 mistakes

Find a tax advisor: 3 tips

In order to find a good tax advisor, there are in the article on Lukinski directly 3 practical tips with to the hand, for your search, for a good tax advisor in the proximity.

These 3 tips will help you find a tax accountant:

1. Don’t click on the ad in the search results (go directly to page 2)
2. Rating on online portals (more than 5 opinions)
3. Experiences and recommendations from successful entrepreneurs

Avoid advertisements in search results and portals

For one, never click on the ads, because these search results do not come from quality. The ads are here solely because money is paid for it. Money that is spent on advertising, of course, must be taken again. Already the costs for the tax adviser rise, because marketing is expensive. Maybe it is also not the best tax office, after all, customers still need to be recruited. Word of mouth is not enough to acquire new customers through recommendations, that is, through satisfied customers.

Ratings with quality and quantity

Tip number 2 deals with the evaluation in online portals. Here you should pay particular attention to the fact that there are a relatively large number of opinions. Buy reviews is quite simple. For as little as $19, there are real reviews in search engines and on social networks. Therefore, you should on the one hand compare the number of reviews with other offices, on the other hand read the opinions or even read through. A simple “very good” could possibly be bought.

Tax consultant experiences of other successful entrepreneurs

Tip number 3 is the safest way, you ask experienced and successful entrepreneurs in your area who can give you good recommendations. Another advantage, you have a door opener to the firm. Because good tax accountants don’t wait for new clients, they have enough inquiries through referrals.

Here again, briefly summarized, the 3 tips from practice to find a good tax advisor:

1. Don’t click on the ad in the search results (go directly to page 2)
2. Rating on online portals (more than 5 opinions)
3. Experiences and recommendations from successful entrepreneurs

Conclusion: Find and hire a tax consultant

That was our insight into the topic of finding and hiring a tax advisor. So remember, don’t leave the work (only) to your tax accountant! The more you understand and do, the less you pay for the tax advisor and the more money or profit you have left to reinvest.

You’ve learned a lot about working together, from monthly bookkeeping and wages, to your company’s financial statements. Also the 3 biggest risks and 3 tips so that you do not make mistakes when choosing a tax advisor.

You can find more on this topic in the source of the article on Luinski.de: Steuerberater.

Costs and billing

How much does a tax consultant cost per hour? How are the fees of the tax advisor calculated? How much should a tax accountant cost? And how much does a small business tax accountant cost? If you haven’t experienced tax accountants yet, here are official costs and rates for you, from the federal Chamber of Tax Advisors. Tip. Under the explanation of value fee you will find the cost table for 100.000, 200.000 and 500.000 Euro – that’s how much your tax advisor costs / earns!

• Tax consultant costs

Mistakes: 3 risks for your company

Hiring a tax accountant / mistakes – You want to find a good tax accountant! Because, you want to avoid risks and dangers, after all it will cost you cash if you hire the wrong firm for your accounting. Costs for additional processing, advice and service and of course losses, for example, if tax benefits are not taken (quote above). In the article on Lukinski, 3 specific risk factors are described that usually only become apparent after years of working together. The 3 risks first at a glance.

• Hiring a tax advisor: mistakes

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

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

Guide: How to build private wealth

Building up assets is an advantage in any case, especially with financial reserves you are prepared for potential risks and have less to worry about. But what options are there to build up a significant fortune? Whether life insurance, saving taxes or the classic real estate investment – in this overview you will find tips and tricks from experts as well as answers to all your questions!

Tip! Especially the topic of taxes holds a savings potential with the right know-how. Take a look at our guide: Tax Basics XXL

Save taxes: Income, corporation & Co. – tips and tricks

You want to save taxes? Classification, income, turnover, coaching – tax advantages and benefits as well as tips and tricks on the subject of “saving taxes” are essential for entrepreneurs, freelancers, pensioners & Co. in order not to lose track of the many laws and guidelines in tax law. Although everyone is familiar with the word “tax”, only a few people actually know what taxes are. What taxes are there? For what do we pay taxes and how much? To whom do we pay taxes? What tax tricks and tax saving tips are there? And very important: How does saving taxes work at all and which tax saving tools should I use? You can find out about this and much more below, quickly and easily.

• Wealth accumulation: saving taxes

Investment life insurance: Risks & asset accumulation

Life insurance can basically be divided into two types: term life insurance and endowment life insurance. Life insurance stands out above all as the best protection for partners and children – keyword term life insurance. But they can do even more, for example build up assets for old age (endowment life insurance). To what extent life insurance makes sense as an investment and much more on the subject of life insurance you can find out here.

• Wealth accumulation: life insurance investment

Video Tips: From basics to retirement planning

If you want to learn about wealth building but don’t have the time or leisure to read up on it, you’ve come to the right place. We have compiled informative video recommendations for you on topics such as wealth building basics, finance or even retirement planning. In it, experts and professionals clarify questions around the topic of wealth accumulation and share their knowledge and experience with you.

Wealth building basics: tips, 1×1, rules & mistakes

You don’t want to slave for your money? You want to make your money work for you and finally build a fortune? We’ve rounded up the best book tips for you to learn how you too can finally get to building wealth. Passive income, stocks, investments, real estate and ETFs, all these terms and strategies are explained and explained in the videos. With this know-how, everyone can learn something, build up or expand their assets or simply make targeted provisions for old age. It’s worth watching!

• Video Tips: Wealth Building Basics

Passive Income: Real estate, renting and more

Passive income is a term you should know if you are involved in real estate rentals or the like. But not only in the real estate world you can generate passive income, but also in other areas. How this works in real estate, what kind of passive income you can plan here, but also what other ways there are to get passive income, you will learn in these video recommendations

• Video Tips: Passive income

Pension: Understand and avoid mistakes – tips from experts

For many – especially young – people, retirement is often a vexing topic. People like to put it off for too long because they don’t want to deal with the subject of pensions. But retirement planning, paying into the pension fund and the like are definitely topics that should be dealt with early on. Especially now, when pensions are likely to continue to decline in the coming decades, you should make provisions in good time. In these videos you will get tips and tricks from experts on the topic of “Understanding pensions”.

• Video Tips: Pension

Retirement planning: options, investment, tips & achieving independence

The topic of old-age provision is one of the most important issues Germans are concerned about. Already at a young age, one is made aware of the need to provide for later. But how exactly do I do that? When do I start with the old-age provision? Which mistakes should I avoid? Where can I get tips? And why do I need a pension at all? We answer all these questions and more here.

• Video Tips: Retirement Planning

Successful Investing: Investment, tips, strategies, mistakes and more

Successful investing is a dream of many people. But unfortunately, it is not as easy as it seems. How can you start as a beginner in the investment industry? What do you have to consider and which mistakes should you try to avoid? What is worth investing in? And what does the term “investment” mean anyway? We enlighten you with videos including tips and tricks from experts!

• Video Tips: Invest successfuly

Finance: Basics, Organization, Apps, Risk, Tricks & Co.

Finance is a very important topic in today’s society, and in principle every citizen comes into contact with it in one way or another. We explain the most common terms in the world of finance and give advice on loans, overnight money, shares, etc. If you want to know how investments work, what different financial products there are and which credit card is particularly recommended, you are in the right place.

• Video Tips: Finances

Book Tips: Questions Answered – Finance, Investment & More

Below you will find the most successful and best rated books (Amazon) on the topic of wealth building. Whether it’s passive income or successful investing, if you’re looking for an inspiring and informative read on wealth building, you should find it in our book lists. Benefit from the experience and knowledge of professionals that they share with readers in these books.

Wealth building basics: saving money, ETFs and more

You don’t want to slave for your money? You want to make your money work for you and finally build a fortune? We have compiled the best book tips for you, with which you can learn how to finally build wealth. If books are too cumbersome for you, you can also find a link to a compilation of videos on the subject here.

• Book Tips: Wealth Building Basics

Finance: Stocks, asset growth, tricks and more

Everyone has to deal with them sooner or later: Finances. But what actually belongs to the topic of finances? What should you pay attention to when dealing with your finances and what advantages can you possibly gain? We have collected book tips for you with literature from experts who can tell you their tricks and illustrate and explain the world of finance to you. Learn everything about finance, strategies, stocks and much more!

• Book Tips: Finance

Successful Investing: Tips and tricks to make profit

Successful investing is a dream of many people. But unfortunately, it is not as easy as it seems. How can you start as a beginner in the investment industry? What do you have to consider and which mistakes should you try to avoid? What is worth investing in? And what does the term “investment” mean anyway? We present you the best books on the subject of investment and successful investing!

• Book Tips: Invest Successfuly

Passive Income: Real estate, investment and expert tips

For whom doesn’t that sound tempting: earning money “without doing anything for it”. But of course it is not quite that easy. If you want to generate passive income and thus build up a fortune, you have to proceed strategically and take many factors into account. Real estate, for example, can often be a good way to generate passive income. But how to buy and rent a property, or generally generate passive income, experts have commented in various books. We have collected the best-rated books with tips and tricks from professionals for you.

• Book Tips: Passive Income

Pension: Provide for old age and avoid mistakes early on

Sooner or later, everyone has to deal with pensions. How the pension system works, when and where you can get the best information, what mistakes you can avoid and what tips there are to increase the pension, we show you in our list of recommended books by experts on the subject of pensions. We also give you insights into investment options and the Riester pension.

• Book Tips: Retirement

Retirement planning: financial plan, pension needs, explanation and more

The topic of old-age provision is one of the most important issues Germans are concerned about. Already at a young age, one is made aware of the need to provide for later. But how exactly do I do that? When do I start with the old-age provision? Which mistakes should I avoid? Where can I get tips? And why do I need a pension at all? We’ll answer all these questions and more here, with book recommendations from experts who share their know-how with you.

• Book Tips: Retirement Planning

Tip! Real Estate XXL: Investment, Sale & Co.

The world of real estate is complex and multifaceted. If you want to keep an overview and avoid making mistakes, you should prepare well and clarify as many open questions as possible in good time. No matter whether you want to build, buy and rent out a property or live in it yourself, or even use a property as an investment to generate passive income: The preparation is the A&O. Here you will find articles, as well as book and video tips with successful and helpful books and videos on the subject of real estate – including tips and tricks from professionals and experts.

• Book and Video Tips: Real Estate XXL

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

Tax Videos: Tax optimization & save money with tips from experts

With these tricks from real experts, you can save an average of €1000 in taxes every year! Here you can learn everything about taxes. What is a tax return, when and where do I have to file it, what taxes are there, how can I save as much money as possible, how do I pay taxes on my own home and, and, and… With us you get helpful tricks and tips from experts that can save you money. Acquiring the necessary know-how will cost you little time, but will definitely pay off for you financially. The more knowledge you acquire, the greater your financial gain will be. Learn how to do it here!

Basics: calculate tax, tax return, tips & tricks

Taxes are a vexing topic for many, but everyone has to pay them and everyone is confronted with them on a regular basis. But what taxes are there actually and when do I have to pay which tax? How do I actually make a tax return and when do I have to submit it? Most importantly, how can I save as much tax as possible? With these videos from experts and professionals, you’ll get all the necessary information and definitions on the basics around taxes and get tips and tricks on how to save a lot of money on your next tax return with the right strategy!

• Tax BasicsVideos

Tax return: real estate, save money & avoid mistakes

Why, why and why are tax returns so important? Not only professionals, but also students, trainees or pensioners can benefit from a tax return. If you have never deducted anything from your taxes and have no previous knowledge, then you can get super informed in our tax return guide. Here you will find tips and tricks in the form of expert videos that will help you avoid mistakes. We also give you tutorials to help you with your first or next tax return.

• Videos with tips and tricks: Tax return

Tax tips & tricks: Save money on your tax return

Almost everyone knows it, there comes a time in the year when it is called: The tax return is due again. For many, this is still a vexing topic, but it doesn’t have to be! With the right tax return and the appropriate strategies, you can often get a lot of money back and thus save an average of 1000 € per year. We have compiled the most important and exciting tips and tricks for you in videos from experts, so that you can also save money and look forward to the next tax assessment in the future!

• Videos: Tax Tips & Tricks

Taxes for real estate: savings on sale, donation and much more.

Real estate is basically a big topic in the financial world: buying, selling, inheriting, donating, renting, investing, etc. But to what extent do I actually have to pay taxes in the area of real estate? With tips and tricks you can save a lot on your property taxes, you just have to know how. In our video list you will find many videos in which experts explain to you what really matters and which mistakes you should avoid at all costs. With this help, you will soon be able to fully understand the topic of real estate taxes and save a lot of money in the future!

Taxes & capital gains: avoid taxes with tips and tricks

Generating capital gains is one thing. Then again, taxing them is another. What exactly capital gains are and what they have to do with taxes, you will learn here. Among other things, the topics of capital gains tax, tax returns, dividends and interest are adressed in relation to taxes. Through tips and tricks from experts, which they reveal to you in these videos, you get help for your tax return and more net income.

• Video Tips: Taxes & Capital Gains

Finance: Save money, build capital and invest

Before you get into the topic of taxes and paying taxes, you should get an overview of your finances. What do I have, where do I have it and what is the best way to deal with it? Once you’ve built up some equity, the next step is to invest or reinvest it as smartly as possible. If you have chosen the right strategy, wealth accumulation almost runs by itself. How all these dynamics intertwine and how you can earn a lot of money with all this you can learn here!

Finance: Basics, Credit & Financial Freedom

Finances are a very important topic in today’s society, with which basically everyone comes into contact in one way or another. We explain the most common terms in the world of finance and give you information and tips on loans, overnight money, shares, etc. If you want to know how investments work, what different financial products and options are available and which credit card is particularly recommendable, you’ve come to the right place. You will also learn how to avoid risks and mistakes.

• Recommendations: Videos Finance

Wealth Building: Real estate, taxes and passive income

You don’t want to slave for your money all your life? You want to make your money work for you and finally build your own wealth? We’ve compiled the best video tips for you to learn how you too can finally build wealth. Passive income, stocks, investments, real estate and ETFs, all these terms and strategies are explained and explained to you in the videos. With this know-how, everyone can learn something, build up or expand their assets or simply make targeted provisions for old age. It’s worth watching!

• Video tips wealth accumulation

Investment: investing money, strategies and capital accumulation

Real estate is considered a safe and profitable investment. But what is the best way to invest in houses or apartments? Whatever drives you to make a lot of money: Buying a home as an investment is the best idea you can make. If you want to successfuly invest in real estate, you need a good strategy. It’s underestimated how quickly life can change. Successful investors calculate before they buy whether the expected return on a property will cover the financing costs and whether they can even make a profit in the end. Learn here how you can do that too!

• Successful Investment Video Tips

Financial provision: possibilities, savings and reserves

Once you have saved money through taxes and the right handling of your finances, the question now is how best to invest and invest your money. It always makes the most sense to make provisions for old age – unfortunately, too many people still forget that. Whether it’s retirement planning or pensions, it’s never too early to get comprehensive information. Here you will find recommendations for videos on the subject of financial provision for old age.

Retirement provision: insurance, declaration and provision for the self-employed

The subject of old-age provision is one of the most important topics that Germans think about. Even at a young age, people are made aware of the need to make provisions for later life. But how exactly do I do that? When do I start with old-age provision? Which mistakes should I avoid? Where can I get tips? And why do I need a financial provision at all? We’ll answer all these questions and more here.

• Videos old age provision

Pension: How much is your pension, calculation, tips & tricks

Sooner or later, everyone has to deal with their pension. How the pension system works, when and where you can get the best information, what mistakes you can avoid and what tips there are to set the pension as high as possible, we show you all that here. We also give you insights into investment options and the Riester pension.

• Tips via video: Pension

Tip! Taxes XXL – Taxes at a glance + explanation

Taxes are often a vexing topic, especially in Germany. Wage tax, value added tax, real estate transfer tax and much more: it is not easy to keep track of everything. But if you’re not interested in employing a tax consultant, who can be quite expensive, you need to get to grips with the subject of taxes. We want to help you with that! Here you will find an overview of guides as well as book and video tips on the subject of taxes. Whether we introduce you to individual types of German taxes or you watch a video on the subject of tax returns, all your questions about German taxes will be answered here.

• Book and Video Tips: Taxes XXL

Save taxes: Tips & tricks for tax optimization

With these tricks you can save an average of 1000€ in taxes every year! Learn everything about taxes here. When do you have to pay taxes, when and how do you have to file your tax return, which taxes do you have to pay at all, how do you pay taxes on your own home and, and, and… Here you can get helpful tips from experts that can save you money. It’s worth investing just an hour or two to acquire the necessary know-how – it will already pay off financially. The more knowledge you acquire, the greater your financial gain will be. Learn how to do it here!

Basics: tax return, calculate taxes & expert tricks

Taxes: income tax, income tax, value added tax and, and, and. Or also: doing a tax return, do you know how to do it? What are taxes and what are they used for? Here you will learn everything about taxes – from the basics to the different types of taxes and how to file a tax return. After this briefing you should have no more difficulties with your taxes and be able to solve all tasks without any problems. We present you the best books on taxes, including reader ratings, recommendations & experiences!

• Book Tips Basics Taxes

Tax return: forms, real estate & avoiding mistakes

Why, why, why are tax returns so important? Not only professionals, but also students or pensioners can benefit from a tax return. If you have never deducted anything from your taxes and have no previous knowledge, you can get super informed in our tax return guide. We show you tips and tricks on how to avoid mistakes and give you direct tutorials with which nothing can go wrong with your first or next tax return.

• Tax return book recommendations

Tax tips & tax tricks: Save money on your tax return

Tax tips and tax tricks – Almost everyone knows it, it comes the time in the year there it is called: The tax return is due. For many, this is still a vexing topic, but it doesn’t have to be! With the right tax return and the appropriate tips, you can often get a lot of money back. We have compiled the most important and exciting tips and tricks for you, so that you can also save money and look forward to the next tax assessment in the future!

• Books tax tips and tax tricks

Real estate taxes: sale, donation and savings

Taxes in the field of real estate and home ownership: For beginners, the tax world is already quite confusing, but to combine the whole thing with the real estate world is a whole new world. We want to make this entry easier for you with the best recommendations and tips from the pros. Our book tips will guide you through the whole world of real estate and taxes and offer help for learning the basics, guides for private investors and savings tips.

• Taxes Real Estate Book Tips

Taxes & Capital Gains: Tax avoidance with expert tips

If you are interested in the topic of taxes and capital gains and would like to read a book, then just stay tuned. The higher your tax burden, the more important the topic of avoiding taxes becomes for you. Especially if your profits are growing and growing. The more profit, the higher the taxes: a vicious circle. But of course, there are also many options that the state makes available to you. What’s important for you: Your accountant won’t tell you, that’s not his job. Tax avoidance is your job. Because you know your individual financial situation best of all.

• Book tips taxes and capital gains

Finance & Capital Development: Saving and investing money

Before you can even pay taxes and therefore save money, you should be aware of your financial situation. What do I have, where do I have it and how do I best deal with it? Once you have acquired a certain amount of capital, you need to invest it as efficiently as possible. If the right strategy has been chosen, wealth accumulation will occur almost by itself in the best case scenario. How all these dynamics intertwine and how you can earn a lot of money with all this you will learn here!

Finances: Loans, ETFs and financial freedom

Finance is a very important topic in today’s society and basically every citizen comes in contact with it in one way or another. It is about property, reserves, investments, loans, ETFs, financial freedom and much more. It’s very important to always keep your finances in perspective and keep documents and important information bundled and organized at all times. Here we give you our book recommendations about finance, show you the best reviews and provide you with tips and know-how about finance.

• Book recommendation: Finances

Wealth accumulation: passive income, saving money and generating capital gains

Wealth building – You don’t want to slave away for your money? You want to make your money work for you and finally build a significant fortune? We’ve compiled the best book tips for you to learn how you too can boost your wealth accumulation. Everyone would like to make more money, but the big question is: What’s the smartest way to do it? Our experts have the answers for you and will help you build your own wealth. You can learn the most important tips and tricks here!

• Wealth building books

Investment: capital accumulation, strategy, tips & tricks

Successful investing and earning a lot of money with it is a dream of many. But unfortunately, it is not as easy as it seems. How can you get started in the investment industry as a beginner? What do you have to consider and which mistakes should you avoid at all costs? What is really worth investing in? How do I finally achieve my financial freedom? And what does the term “investment” actually mean? And what were ETFs again? We present you the best books on the subject of investment!

• Investment Book Tips

Financial provision: reserves, savings and options

Once you have saved money through taxes and the right handling of your finances, the question now is how best to invest and invest your money. It always makes the most sense to make provisions for old age, unfortunately too many people still forget that. Whether it is about old-age provision or pension, it is never too early to inform yourself comprehensively. Here you will find recommendations for books on the subject of financial provision for old age.

Retirement provision: insurance, declaration and provision for the self-employed

The topic of old-age provision is one of the most important issues Germans are concerned about. Already at a young age, one is made aware of the need to provide for later. But how exactly do I do that? When do I start with the old-age provision? Which mistakes should I avoid? Where can I get tips? And why do I need a pension at all? We answer all these questions and more here.

• Retirement planning Book recommendations

Pension: How much is your pension, tips, tricks and calculation

Sooner or later, everyone has to deal with their pension. How the pension system works, when and where you can get the best information, which mistakes to avoid and what tips there are to increase the pension, we will give you here. We also give you insights into investment options and the Riester pension.

• Book tips on pensions

Tip! Taxes XXL – Taxes at a glance + explanation

Taxes are often a vexing topic, especially in Germany. Wage tax, value added tax, real estate transfer tax and much more: it is not easy to keep track of everything. But if you’re not interested in employing a tax consultant, who can be quite expensive, you need to get to grips with the subject of taxes. We want to help you with that! Here you will find an overview of guides as well as book and video tips on the subject of taxes. Whether we introduce you to individual types of German taxes or you watch a video on the subject of tax returns, all your questions about German taxes will be answered here.

• Book and Video Tips: Taxes XXL

Tax tips & tricks: families, students, employees and the self-employed

For many, the world of taxes is a maze of terms and phrases that no one seems to understand. But actually, it’s not all that complicated. We bring light into the darkness and show you how you can save a lot of money on your next tax return, even without a lot of know-how. For families, students, employees and self-employed – tax tips bring you extremely much. Just filing your tax return will bring you back an average of 1,027 euros. With a little practice, you can do the tax return yourself, in one day. A good hourly wage, right? If you know the basics, your private assets will increase as an employee and especially as an entrepreneur.

Here’s another tip for you! Online you can find a lot of articles and tips on Lukinski.de. Here you can learn everything: from tax basics for asset accumulation, to real estate as a capital investment through renting, to saving taxes with real estate (external). Everything free of charge from the expert.

Tip! Overview Taxes XXL

Taxes are often a vexing topic, especially in Germany. Wage tax, value added tax, real estate transfer tax and much more: it is not easy to keep track of everything. But if you’re not interested in employing a tax consultant, who can be quite expensive, you need to get to grips with the subject of taxes. We want to help you with that! Here you will find an overview of guides as well as book and video tips on the subject of taxes. Whether we introduce you to individual types of German taxes or you watch a video on the subject of tax returns, all your questions about German taxes will be answered here.

• Book & Video Tips Overview: Taxes

Find a tax consultant: near you

Are you still looking for the right tax advisor in your area? Then take a look at our lists: We have compiled the best-rated tax consultants for you for almost every city in Germany, where you should always receive good advice. You can find more information about tax advisors in your area here.

Tax tricks: Saving money at every turn

Save taxes legally – with these 3 tax tips and tricks you can get more money out of your tax return and get it back from the tax office. In this video, 3 completely legal tax tricks are revealed to you, which can be easily applied in the tax return with little effort.

1. Tax trick: deduct longer journeys
2. Tax trick: schedule payments
3. Tax trick: Off to the registry office

Watch the video to learn the details of these tax tips to increase your own tax refund.

Tips from the tax advisor

Here, a professional tax advisor reveals 6 tips on how you can save even more on your taxes in the future, so you can use that money wisely in the future or maybe even (re)invest it.

Tax tips for employees

Saving taxes as an employee made easy. In this video, you’ll learn how you can save on your next tax return as an employee with 5 explicit tricks to help you afford more next year.

More net from gross – tax tips

Here are 6 tips presented to you on how to save on your next tax return. Among other topics such as: Change health insurance, agree on benefits in kind, leave the church, allowances can be entered, prepare the tax return or capital-forming benefits.

Tax return: tips that are worthwhile

Not done your tax return yet? Then get going! Here’s how you can get up to 1,000 euros out of it with simple tips. And don’t worry: the tips are very simple and can be implemented quickly.

Tax return as a student

A tax return as a student? That can really pay off! Even if you don’t have one yet. This video explains how it works and what terms like “tax deduction”, loss carry forward, income-related expenses or special expenses mean.

Tax tips for the self-employed

Did you know that you probably pay too much tax, especially as a private entrepreneur? In this video you’ll get 13 legal tips on how you can save taxes as a self-employed person in the future!

The most common mistakes and traps

In a tax return, you can do many things wrong and the bad thing is, as a rule, each of these mistakes costs money or you can even be held liable for it – which 8 mistakes are the most common and how to avoid them, that is shown to you in this video. For example, it’s about accepting the tax assessment without complaint, forgetting your special expenses or not collecting receipts.

Tax traps for private individuals

There are several tax traps when filing your tax return and if you are not careful, you can quickly fall into such a trap. So that this doesn’t happen to you, this video shows you the three most common sources of error and explains how to deal with them.

Tax deductions?

Anyone who has one or more children and makes a tax return, is confronted with many terms, so it is about child benefit, child allowance, care costs or the education allowance and you have to find your way in this jungle of terms. In this video, the most important points are explained so that you can make your tax return easier. This is about how children affect the tax return and how you can save taxes with one or the other information.

Tax deductible insurances

Which insurance premiums should you definitely declare on your tax return and which insurance premiums can you save on declaring here? What are the maximum limits? You can find out all this in this video.

Deduct travel expenses from tax

Do you regularly commute to work and spend a lot of time in the car or on the train? You can get this money back! In this video you will learn how you can get the most reimbursement for your travel costs to work, keyword: commuting allowance.

Related links about the topic Taxes

Taxes Basics

Doing your taxes: Do you know how? What are taxes and what are they used for? Here you can find out everything about taxes – from the basics to the different types of taxes and how to file a tax return. In addition, how you can save taxes and what tips and tricks you should know to save as much money as possible on your next tax return.

• Video tips on the topic: Tax basics
• Book recommendations on the subject: Taxes Grundlangen

Taxes Capital gains

Capital gains – Some people may have heard the term before. However, there may also be people who can not yet do so much with the term. What that is exactly and what that has to do with taxes, you will learn here. Capital gains tax, tax return, dividends and interest in relation to taxes are also adressed. Also you get tips for the tax return and for more net income.

• Video tips on the topic: Taxes on capital gains
• Book recommendations on the subject: Taxes on capital gains

Back to overview Taxes XXL: Tax return, tips & more

Here you can return to the overview of book and video recommendations on the topic of taxes in Germany. Tax forms, tax rates, tax returns and much more will be explained to you by experts and made understandable. In this XXL guide you will find information and articles on the most diverse questions on the subject of taxes.

• Book & Video Tips Overview: Taxes

Tax tips and tax tricks

For families, students, employees and the self-employed – tax tips bring you an extremely high return. Just filing your tax return will bring you back an average of 1,027 euros. With a little practice, you can do the tax return yourself in a day. A good hourly wage, right? If you know the basics, your private assets will increase as an employee and especially as an entrepreneur.

For many, the world of taxes is a maze of terms and phrases that no one seems to understand. But actually, it’s not all that complicated. We bring light into the darkness and show you how you can save a lot of money with the next tax return even without great know-how.

If you are looking for tips online, we can recommend Lukinski.de. Here you will find everything. From Basics: Understanding Taxes, to Real Estate as an Investment through Renting, to Saving Taxes with Real Estate (external). All free of charge from the experts.

Tip! Overview Taxes XXL

Taxes are often a vexing topic, especially in Germany. Wage tax, value added tax, real estate transfer tax and much more: it is not easy to keep track of everything. But if you’re not interested in employing a tax consultant, who can be quite expensive, you need to get to grips with the subject of taxes. We want to help you with that! Here you will find an overview of guides as well as book and video tips on the subject of taxes. Whether we introduce you to individual types of German taxes or you watch a video on the subject of tax returns, all your questions about German taxes will be answered here.

• Book & Video Tips Overview: Taxes

Find a tax consultant: near you

Are you still looking for the right tax advisor in your area? Then take a look at our lists: We have compiled the best-rated tax consultants for you for almost every city in Germany, where you should always receive good advice. You can find more information about tax advisors in your area here.

Tax tips for start-ups and young entrepreneurs

Rating: 4.5 / 5.0 (115 ratings)

The tax classic for start-ups and young entrepreneurs is already in its 5th edition. Since 2012, it has inspired more than ten thousand readers! 96% of all start-ups and young entrepreneurs regularly give away good money to the tax office! Knowledge gaps, disinterest or even fear of the topic of taxes are just a few reasons why entrepreneurs burn thousands of Euros from year to year! How would you like to have a guidebook in your hand that helps you to save taxes easily and quickly and to gain more valuable time for your core business? A guidebook that…

• Which is free of legalese. With which you can build up tax knowledge without having to read paragraphs and legal texts.
• Who presents the dry material with a “pinch of humor”, so that even tax laymen find an easy access to the topic.
• Who instead of grey theory imparts a multitude of practical tips.
• It answers 90% of the typical tax questions because hundreds of young entrepreneurs have helped to create it.
• Who already helps more than TEN THOUSANDS of self-employed people save taxes.
• Buy at Amazon

Konz: 1000 legal tax tricks

Rating: 4.4 from 5.0 (172 ratings)

Conc. 1000 completely legal tax tricks – the standard work under the tax councellors and the guarantor for highest tax refunds of the tax office.
This completely revised edition includes a host of new tips and tricks for filing your 2019 taxes. With the revised Konz, you’ll get the tax knowledge that will make you more money when you file your taxes, true to the motto: More knowledge. More Money. Tax returns are made easy with this book, allowing you to save money and nerves with your upcoming tax return.

• Buy at Amazon

Tax knowledge to go: Crash course in taxes

Rating: 4.4 from 5.0 (110 ratings)

In this crash course you will learn – even without previous knowledge – everything you need to know so that none of your hard-earned euros will be accidentally transferred to the tax office. You get everything worth knowing explained around:

• Income statement
• Value added tax (including small business regulation)
• Trade tax
• Income tax

You will learn how to deduct business expenses (such as company cars, workrooms, entertainment, travel expenses, gifts) from your taxes. Instead of grey theory and legalese, you’ll get the necessary basic knowledge presented in an easy-to-understand and practical way; tax savings and legal tax tricks included. Just implement a tax tip or save a quarter of an hour of tax consultant fees – and this tax savings book has already paid off for you. By the way, you can deduct the purchase price from your taxes. The tax office thus participates in your investment with a tax saving.

• Buy at Amazon

With the right tax strategy to wealth and prosperity

Rating: 4.2 from 5.0 (12 ratings)

Why do rich people and large companies pay so little in taxes and duties? And why does the taxman collect so much from middle-income earners? The answer is: The “big ones” manage their taxes themselves and the “small ones” are not even asked. This book uses the “3-pillar strategy” to show you how even average earners can sustainably reduce their personal tax burden. In addition, there are tips on investing money and protecting assets.

• Buy at Amazon

Tax lexicon of the basics

Rating: 4.0 from 5.0 (123 reviews)

This unprecedented tax encyclopedia is the 1st of its kind and is specifically designed to help beginners understand everything about taxes.
This tax encyclopaedia of basics brings difficult specialist knowledge simply to the point. With the help of good explanations and practical examples, it gives you a (relatively) easy introduction to the complex world of taxes.

Who is this tax encyclopedia of basics for?

• For beginners and advanced learners who want to know more about the tax system
• For people who finally want to have a clear view when it comes to taxes
• For people who have the goal to optimize their personal finances and tax arrangements

As a special bonus, you will receive an extra workbook with this book. The workbook is intended to help you to immediately go into practice and to practice the basic tax terms as effectively as possible, to understand them and later to use them profitably for yourself (and for your company).

• Buy at Amazon

Tax for entrepreneurs, self-employed and start-ups

Rating: 3.9 from 5.0 (4 Reviews)

Businesses and the self-employed minimize tax liability with these pro tips:

The proven guide provides competent answers to all tax questions, whether it is about the private or the business tax return. The comprehensive, clear encyclopedia section explains the most important keywords from A – Z concisely and understandably. The book offers tax knowledge on the latest legal status as well as detailed information on all tax forms and attachments. The big final check gives entrepreneurs and self-employed the opportunity to fully exploit their tax savings potential.

• The easy-to-follow guide to 2019 personal and business tax returns
• Quick overview of changes to forms and laws and help in filling out official tax forms
• The tax lexicon: Easy to look up – all keywords are explained briefly and comprehensibly. With a focus on depreciation, workrooms, company cars, electromobility and sales tax.
• Extra: Final check – the best tax saving tips for income tax at a glance
• Buy at Amazon

The Tax Bible for Investors: Saving Taxes

Rating: 4.5 from 5.0 (15 ratings)

There are people who earn their money through physical or mental work and there are people who make money work for them. But even hard-working people can molt bit by bit into a bigger and bigger investor. This is clever, because making money or investments work for you creates freedom in the form of time.

However, life as an investor is not quite that simple. An investor must find lucrative investment opportunities and take risks with his investments. He must be well versed in the various investment options and choose the best solution for him. How he chooses his investment depends on many different factors: The capital invested, the risk, the return opportunity, the investment horizon (time), expert knowledge, costs and, of course, taxes.

• Buy at Amazon

Related links about the topic Taxes

Are you interested in everything that has to do with real estate and taxes? You already own a property or want to buy one, but don’t know how to finance it? Here you will find more tips, tricks and book recommendations on the subject of real estate and taxes.

Taxes for real estate/home ownership

Taxes in the area of real estate / home: For beginners, the tax world is already quite confusing, but to connect the whole thing again with the real estate world, is its own little world. We want to make this entry easier for you with the best recommendations and tips from the pros. Our book tips will guide you through the whole world of real estate and taxes and help you learn the basics, guides for private investors and savings tips.

• Book recommendations on the subject: Taxes on real estate/home ownership
• Video tips on the subject: Taxes real estate / home ownership

Tax return

Why, why, why are tax returns so important? Not only professionals, but also students or pensioners can benefit from a tax return. If you have never deducted anything from your taxes and have no previous knowledge, you can get super informed in our tax return guide. We show you tips and tricks on how to avoid mistakes and give you direct tutorials with which nothing can go wrong with your first or next tax return.

• Book recommendations on the subject: Tax return
• Video tips on the subject: Tax return

Back to overview Taxes XXL: Tax return, tips & more

Here you can return to the overview of book and video recommendations on the subject of taxes in Germany. Tax forms, tax rates, tax returns and much more will be explained to you by experts and made understandable. In this XXL guide you will find information and articles on the most diverse questions on the subject of taxes.

• Book & Video Tips Overview: Taxes