Looking at our tax bill here in Germany recently made us realize that we are torn between our two countries --> our home in America, and our current home in Germany.
The watered down version of our conversation:
Honey do you realize that we pay in
Germany = roughly 20% of our income in taxes
America = < 2% of our income in taxes
Why did we pay lower taxes in America? Because we owned a house and could deduct the interest paid on the mortgage from our taxes.
Conclusion: buy a house in Germany and save a huge pile of cash each year.
Yea, but wait a minute, wouldn't that mean we are staying here (in Germany) for a long time? Can we sell a house again? This is naturally possible, but would we sell said house with a loss, with a gain? What are the up front costs, upkeep, would our mortgage be lower than our current rent? Lions, and tigers, and bears, Oh my.
Final conclusion: which country do we really want?
Reality check from dad a few days later. He is replacing his water heater (I told him about all the benefits of oil heating - just kidding) and may require major repairs to a skylight - ouch!
Maybe a tax adviser would be a simpler alternative. No matter what we decide, the fundamental question remains - which country do we want. We have chosen Germany for the time being. Will we want that same country in 5 years, 10 years, etc.? Lions, and tigers, and bears, Oh my.
8 years ago
