Preparation and Tax Planning Before Moving from the US
Moving from the US to Germany can be complex, especially regarding taxes. It is essential to thoroughly review your assets and financial situation and consider potential restructurings before moving. Whether transparent or intransparent, the type of your assets can influence your taxation in Germany.
Taxation of Assets and Pension Benefits After Moving
After moving to Germany, various types of income and assets you hold in the US become subject to German taxation. This includes retirement accounts like IRAs or 401k, pensions, and social security benefits. For US citizens and individuals with dual citizenship, the tax on assets held in Germany can be complex, especially regarding investments in foreign ETFs and funds.
Inheritance and Gift Tax: Taking Both Tax Systems into Account
Both German and US tax law need to be considered when receiving inheritances or gifts. The double taxation agreement can play a crucial role here.
Your Tax Consultants in the US
When planning your move from the US to Germany, our experts can help you make the right decisions and avoid tax disadvantages. Contact us at +49 89 2351 3218 or +1 914 816 1115 after 15h (9 am ET) for tailored solutions that are adapted to your specific needs and goals.
Conclusion: Strategic Planning for a Tax-optimized Move to Germany
Moving to Germany requires careful preparation and a deep understanding of the tax aspects in both countries. With the right consultation, you can optimize your financial position and avoid tax disadvantages.