Tax-relevant issues
June 1, 2010 | 20,00 EUR | answered by Oliver Burchardt
Hello Mr./Mrs. Tax Advisor,
After the upcoming (mutually agreed upon according to the social plan) termination, I will receive a larger severance payment (~250,000).
What areas/questions, in addition to the five-fifths rule and the timing of the payment (preferably next year - without any additional income in 2011), would make intensive tax advice worthwhile?
I consider myself a simple/basic case in terms of taxes:
- Employee
- No church tax
- Married, taxed according to spousal splitting, no children
- No other tax-relevant income (spousal income 400€, no rent/interest/dividends...)
- No depreciation objects.
Is the tax situation as straightforward as I see it, or are there any "pitfalls" or potential for optimization (and if so, what)?
Thank you in advance.
A future "early retiree"
Dear inquirer,
Thank you for your inquiry, which I am happy to answer as part of an initial consultation.
Please note that the tax assessment is based on the information provided. Adding, changing, or omitting information can affect the tax assessment.
The "five-fifths rule" you mentioned seems to apply to your case. Therefore, it is advisable to receive the payment in the next year in order to obtain the lowest possible rate.
In the event that you receive a retirement income in the coming years, please be aware that pension payments are (at least partially) subject to tax, and you are therefore required to submit an income tax return.
Based on the circumstances you have described, I do not see any further need for tax advice. However, this, as well as your question about further optimization potential, could only be conclusively clarified in a personal conversation, as there are always opportunities for tax optimization.
Best regards,
Oliver Burchardt
Tax consultant
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