Personal tax planning
Personal tax planning can be useful in the private sector, particularly for any pending investments or investment decisions, and when considering how these might affect your life situation. If you have a great number of personal assets, it is worth assessing the correct distribution of the assets and the right legal form. Optimising the structure could result in tax advantages.
Personal tax planning may cover a number of topics including:
Analysis of property assets, including the depreciable amount and tax burden. It might be advantageous in this instance to sell a part of the assets to a domestic or foreign individual or corporation, as this allows the depreciable amount to increase again and could have advantages, among others, such as reducing the tax burden on the surpluses
- Advice on property investments to take advantage of tax opportunities
- Advice on capital investments with respect to the tax component
- Choosing the optimum income tax category for spouses (in Germany)
- Choosing between separate and joint investment (in Germany)
- Advice on insurance policies for pensions, including optimal deductibility for tax purposes
- In instances of greater private wealth and assets, establishing a private-benefit foundation
All life planning factors are considered
Personal tax planning naturally requires all life factors to be taken into account. It is therefore worth questioning many areas and evaluating them:
- Where are you in life?
- What are your personal goals?
- What are your professional goals?
- What is your pension provision?
- What is your asset structure?
- Are your assets restricted domestically or are they structured internationally?
- Where would you like to see a change?
- Do you have sufficient protection for your family?
The optimum structure requires intensive joint cooperation, since the private areas of your life play a major role. When having these discussions with you, we exercise the utmost discretion and sensitivity. By having open and trusting discussions, we can take many steps to help you achieve a better life structure, assets and, importantly, better personal tax planning outcomes.
Our tax experts at the Viehbacher law firm will gladly answer your questions and can help you in optimising your assets and income. Whether you’re in Munich or Regensburg, Vienna, Triesen, Zurich or Brixen, we look forward to hearing from you!