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Text comes from the book: “Control taxes. Using the Right Tax Strategy for Wealth and Prosperity ”(2015), Safe Exchange Strategies. With 20 simple basic rules and 4 different strategies for different types of investors ”(2017), published by Münchener Verlagsgruppe (MVG), reprinted with the kind permission of the publisher.

Here writes for you:

Johann Calin Köber (born January 24, 1956 in Munich) is a German author, speaker, entrepreneur and tax consultant. Köber attended elementary school in Stamford, Connecticut as a child and graduated from high school in Albion in Calhoun County in Michigan in 1973. After returning to Germany, he graduated from high school in Schweinfurt in 1975. He first studied physics and medicine and finished his studies in business administration with a focus on business informatics at the Friedrich-Alexander-Universität Erlangen-Nürnberg. He then worked in the IT industry for an American IT company in Frankfurt. In 1997 he was appointed tax advisor by the Chamber of Tax Advisors in Nuremberg. He then worked as a tax advisor and entrepreneur. He was best known for his bestseller “Taxes” and his books “The Great Handbook of Foundations”, “Safe Stock Market Strategies” and “Everything You Need to Know About Marriage and Finance”.

Taxes, Duties and Making Money: The End of Financial Wealth? [+ Checklists]

Almost everyone in this country tries to make provisions for old age or family. In view of the meager pension prospects, your own wealth plays an important role. But if you don't pay attention, you'll quickly end up!

Why You Aren't Rich: 3 Basic Tips

Because only with its help can we become financially independent of the payments made by our employers, pension funds or other institutions. That's why more people strive
because depending on the additional income - for example through securities, real estate, investments or other forms of investment. But no matter how good
it runs financially, especially the high expenses then make it
a line through the corresponding calculation.
Many people barely have enough money to set aside.
In addition to rent, loan installments and consumer spending, taxes and levies are the main contributors. The expenditures that the father state demands of us,
make up the largest item in most households. Anyone who intends to build a fortune must escape this logic, and
this is what my strategies are aimed at. They allow even average earners to achieve values ​​by reducing the tax burden
to accomplish. But my solutions should not only help
Save taxes. My concern is our financial independence
and the ways to get there.

1. Rethinking is required

First of all, the implementation of the strategies requires a rethink. This
begins with taking responsibility yourself and no longer that
To let the state decide about its own money. Because chances on the
Wealth accumulation is particularly suitable for those who actively use tax law for their own purposes, i.e. who control taxes.
In doing so, dear readers, you will stumble across an unusual confession in many places: I love taxes. The reason for this is simple.
Our tax law is complex and based on numerous rules. There
If you can use these laws in your own sense, it's fun that
To play the tax game and thereby realize chances of winning. As with any good game, the one who dominates the front is the one who knows the rules. So in the first section of this book I'll show you how
Calculates the true amount of taxes and duties, and what principle is behind the many paragraphs in this area.

2. Rules for lower taxation

Then there are rules that help us reduce taxation. As a central element on the way to your own wealth, I would like to introduce you to my three-pillar strategy. In short, the latter consists of optimizing income and expenses for tax purposes and structuring the resulting assets in such a way that they generate a positive return. I'll show you how to use the existing rules for your own benefit
use. And where the saved taxes enable profits, these funds can be invested and used to build up wealth. You will see that my proposals are neither particularly complex
Are you still wealthy people of the financial possibilities
require.

3. Assets Protect

After all, you should know the rules of how to protect the created assets effectively - be it from the bankruptcy of your own
Business or other unforeseen incidents. In addition
the book even looks beyond the death. Finally supposed to then
rather the own family from the assets that have been saved up to that point
benefit as a father state.
Finally, I will give you the necessary information on implementation. Please take these tips to heart if my strategy convinces you. After all, it is important that you actually work around avoidable mistakes. In any case, it is advisable for the realization of my
To take advantage of conceptual expert advice.
Over and over again, the sections of this book show you how closely intertwined values, income, expenditure, and debt are.
I describe these dependencies using the picture of the money propeller
and with this book I would like to teach you the basics of how
Your personal money propeller when building up a fortune using the
suitable control strategy can be turned faster.

The tax game

Anyone who reads the German Income Tax Act (EStG) has to read through
Work 99 paragraphs, each with countless sub-items. Section 7 alone ranges from 7a to 7k (of which, however, only 7a, g, h, and i
are in force), and each of these paragraphs has up to nine more
or less detailed paragraphs.
Like all laws, the EStG is written in a language that often
only professionals understand. For most of the people, such texts represent
the opposite of an exciting read; they are happy when the annual tax return is submitted and maybe a tax advisor will
Does most of the work. Almost everyone complains about the high deductions, but sees them to some extent as compensation for pain and suffering
Not having to worry too much about taxes and duties.

Those who rely on the state and accept the setting of wage tax and duties and maybe not even a tax return
surrenders, he has to pay the corresponding price in the form of high deductions
counting. You can keep it that way, but it doesn't have to be. For example, I find this situation extremely unsatisfactory because I
I prefer to keep my money and decide for myself how I handle my property. The state only gets what it needs.
But what does "what is necessary" mean? It sure doesn't mean having crooked ones
Tricks to forfeit money in front of the tax authorities. But neither should we
hand over responsibility and forego design options. How about instead, the many paragraphs of the different
Understanding tax laws as rules of the game instead of supposedly before
Inevitable to turn a blind eye?

How not to lose to the Treasury every year

What will happen if we take a closer look at the logic behind these rules and try not to lose again every year - against the tax authorities, which deduct half of our income from us without asking? This was the consideration at the beginning of my professional life, which is one of the reasons why I became a tax advisor. From this the ambition grew, the rules of the tax game for me and
to use my clients. I've always been particularly annoyed that
the state does not ask me; he just takes. So my goal was that
Regain control.
Do you think keeping track of things doesn't work? If you leaf through the relevant laws, you will quickly notice that there are more exceptions
exist as rules and that the tax authorities judge the same facts completely differently - depending on the situation. Many people complain about this fact and find it unfair that large companies, for example, pay almost no taxes. For me this is the realization
but rather positive; obviously a lot of taxes are not like that after all
inevitable.

They feature great for good reason Company over extensive
Tax departments that are careful not to give too much money to the state
flows. Small craftsmen, the self-employed, landlords, investors or employees can only dream of this; however, the tax laws apply equally to everyone, big and small. Because of this, I want to
make some of the successful strategies available to small and medium-sized taxpayers as well. Some of my core principles are not
overly complex and can be useful even on a smaller scale
realize. From this basic thought the strategies I developed came into being
Would like to introduce to you on the following pages.
First of all, it comes down to taking the reins of action into your own hands
gain weight. Personal responsibility is the prerequisite for that
To use tax law in your own sense. Everyone is therefore well advised to do that
To know the direction he wants to take. The tax game only works if you set goals. It's not about putting this in
to achieve one hundred percent in each case; everyone gets their plans sooner
or adjust later. But the personal strategy grows out of it
these goals.

Taxes and duties steal your wealth

Our complex tax law shows that we are only capable of taxes
to be optimally designed if we proceed individually. In addition, personal goals provide the necessary motivation. But everyone should consider one thing:
Personal responsibility means work. As with any good game must
you also stay awake when it comes to taxes and keep repeating your moves
rethink.
If we heed these rules, there are many starting points to
To reduce taxes and duties. Then we have under
There's a lot more money left on the bottom line to build a fortune. In order to
However, it is only halfway on my strategic path
US. Because the desired financial independence requires that
we think about our entire financial concept. But how to go
how do we use our money wisely? We answer this question when we
deal with our economic goals and clarify how we do
invest or how we want to make a living.
Because almost every flow of money has a positive or negative effect on our assets - depending on how we shape it.

But before we go into full force, one more word on the occasion of the frequent ones
Newspaper reports on tax evasion and the like: This book is valuable
Make sure that the strategies presented are one hundred percent legal and
not aiming to cheat the tax authorities. I'm just explaining why German tax legislation is the way it is and how it relates
build your own fortune on your basis. The one in this country
Applicable tax laws offer all of us enough leeway. It
it's up to us to take advantage of these opportunities. The tax laws are barely legible because the state has made them so complicated. However, this complexity includes many
Rules and exemptions that are beneficial to the taxpayer
let use. You are therefore asked to take the initiative and control the taxes yourself.

The location determination

Often comes after the first third of one's professional life at the latest
a painful realization: Income hardly turns into
Capital. This problem not only affects employees, it also affects numerous freelancers and entrepreneurs. After all, many have their own property, but this often belongs to the majority
the bank and the property is mainly expressed in high loan installments.
Anyone who has children, needs a car or two and is looking for little things
indulges, usually results in a tie - only a few hundred or thousand euros accumulate on the account per year; income is more or less equal to consumption. Who also the
Reading reports of demographic change and hearing warnings of inevitable pension cuts is often puzzled by his future financial condition.

Whether you believe the illusion of pensions or not; one
Nevertheless, they strive for additional security in the form of their own savings
most people. Almost everyone undertakes arithmetic games about a possible fortune, and the ways to financial independence
are probably a constant topic in every second family council.
But where do you get it if you don't steal it? Especially since the bill of many
Households shows that a luxurious lifestyle by no means prevents the surplus at the end of the year. In almost all cases, the odds and ends make a difference. Rent or loan installments, insurance, cars, groceries or fees of any kind decimate the monthly income
beyond recognition. Unfortunately, the bitter realization is: All expenses
are more or less fixed costs that can hardly be reduced.
This book is therefore not intended to optimize your personal payments.
After all, you shouldn't be on a spending diet. You also know best what you need. On the contrary, our entire economic system is based on the fact that we consume, and those who do not play along simply starve to death.

Don't go on a spending diet: checklist for your personal situation

In terms of personal finances, we don't care how much an individual needs
or which consumer goods are appropriate in each case. We continued
Taxes and duties - and these can definitely be optimized.
"You shouldn't go on a spending diet"
This approach is particularly effective in optimizing expenses because taxes and duties are usually the largest items in
of personal financial accounts. That's why savings are
especially effective in this area.
But wait - one step at a time. Before we learn about the strategy to reduce taxes and duties, it is important to first consider the basics of personal finances. Even if it sounds trivial
Only those who know their monetary status quo in detail and have insight into their own finances can successfully walk the path to more wealth and less taxes. Whereby
Experience shows that many people do not know their financial situation
know enough and misjudge both values ​​and income as well as expenses.

It is therefore advisable to answer these four basic questions for yourself first:

  1. What values ​​do I have? W.
  2. What debts do I have? S.
  3. What income do I get? E.
  4. And what expenses do I make? A.

Values ​​generate income

What are your values? A car? A property? Shares? Jewellery?
The list of personal values ​​almost always includes the points mentioned. However, at least two of the four do not act as values, but as
the opposite of which, as liabilities.

The car can be identified quite easily as a loss-maker. Of the
A car does not bring any money into the cash register. For example, it costs the dealer
30.000 euros and is therefore "worth" this amount, but it loses a large part of its value the first time you drive home. if
When you sell your vehicle that is only a few years old, you often don't even get it
half of the purchase price. A clear case of loss of substance.
As if that weren't enough, it already caused ownership and use of the car
daily, monthly and annual costs for fuel, maintenance, TÜV,
Insurance and taxes. This creates no income, but expenses. Therefore, a car is usually not one of the values, but one of them
the liabilities.

Is your own property worth it?

The valuation of owner-occupied property is somewhat more complex.
As a rule, this does not generate any income and is therefore of no value according to our definition. But it doesn't look that bad, because one
In many cases, real estate at least helps to reduce expenses. Like surveys in this context, but again and again
show that most property owners overestimate the savings through
an own house. Despite ownership, a property regularly costs.

  • Property tax,
  • ongoing expenses for maintenance and minor repairs as well
  • Refurbishments that are necessary at longer intervals.

These costs eat up a large part of the rent saved and in some cases exceed them. The purchase is worthwhile from a purely financial point of view
own property is therefore very rare. In addition, values ​​such as
not easily selling your own home. Firstly, the loan agreements ensure binding, and secondly, the homeowner needs a roof over them
Head, and those who have lived in property are reluctant to go back to rented apartments. That is why it is right to classify your own four walls as a liability.

Don't get me wrong, because I want to own my home
in no way devalue. There are good reasons for owning your own house, like that
high feel-good factor or the extensive design options. However, these arguments do not arise from the investment side, but represent reasons for consumption. Ergo, I do not assign a property that I use to the values, but to consumption expenditure. This point of view
has a profound impact on personal financial accounts, like us
will see later.

This is how you identify your personal values

My definition of values ​​in terms of theirs
The main task described here arises from a different thought.
Values ​​have two central functions for building wealth:

  • They increase their value or at least keep them until I sell them and
  • they give me income.

According to this definition, different examples of values ​​can be found
cite, for example rented properties. In the case of the latter, the rent provides that
In the case of securities, dividends or interest provide
Revenue. In the case of company investments, it is the distributions that
Generate income. The examples mentioned also enable a
Increase in value. Gold has also proven to increase its value over the long term
and silver, but they have no ongoing income.
"Wealth is formed according to purely mathematical criteria."

To identify your personal values ​​you need to ask
whether certain objects (can) bring you something, or whether they
When viewed in light, it is more of a burden on your wallet. It is very important
to make this list unsentimentally. Because your wealth matters
not according to preferences or hopes; it is formed according to purely mathematical criteria. However, this limitation is by no means intended to take you away from it
discourage creating value according to personal preferences, i.e. investing. Because you definitely need one thing as a prerequisite for the
Success: It is necessary that you deal with your values ​​and your assets. Only if you do this will you acquire what you need
Know-how and recognize the opportunities for profitable investments.

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