ok , 'projects' but this would make a lot more sense if we could connect remotely to the projects which works without a problem using the IDE plugin, so right now I don't see any advantage of using this
The exit tax is absolutely insane and they even charge it within the EU.
Say you own a company which has a profit of 10.000 Euros on average the past 3 years. Before you can leave Germany you will have to pay taxes based on 137.500 Euros.
I was glad to boil it down to "it probably doesn't concern you, and if it does, you probably have an expert on call already". The entire topic of taxation is a tarpit.
One important note: this 13.75x valuation is a worse case scenario if you fail to supply your own. There are many ways to reduce or avoid this tax.
It's awfully convenient that someone else went through it and started a website just for that topic. Funnily enough, his website was inspired by mine, and this guide was inspired by his post on exit taxation.
Ha, that's my website - thanks for posting it (and for linking to it - allaboutberlin is awesome!).
Indeed, the valuation for the purpose of exit tax is 13.75 * (avg. of yearly profits for the past 3 years); and that valuation is taxed at approximately 30%.
So, as an example, if you own 100% of a company which makes 200k€ yearly profits, your back-of-the-envelope exit tax is 200k€ * 13.75 * 0.3 = 825k€.
A few quick notes:
- If your startup is not profitable but has raised VC money (we're on the YC website after all), the tax office likes to take the VC valuation (!) instead of the valuation resulting from the 13.75 multiple. So, if the valuation in your last round was €10M, then that's your valuation for the purpose of exit tax (back of the envelope: You own 50%, €10M valuation: 0.5 * €10M * 0.3 = €1.5M exit tax; huge problem for early-stage founders who usually don't have liquidity).
- You can deduct a CEO salary from that (yearly) number if you haven't been paying yourself a salary yet - realistically, up to 150k€ / year. So if your profit is up to 150k€ / year, you can reduce it to near zero for the purpose of exit tax valuation.
- You can also supply your own company valuation, but it has to be done by a "Wirtschaftsprüfer" - this costs around 10k€ per company; if you have shares >1% in multiple companies, this means costs of n * 10k€. This is often prohibitive.
- There's a whole tax advisor industry around this exit tax topic, and it feels very shady. I've written up all my notes from (paid) tax advisor calls and shared them on my website for free (linked by in parent comment).
- There are various setups to "avoid" it (all outlined on the website). None of those setups is easy, and none of them is free. Still, if you're e.g. faced with a potential exit tax of 825k€ like in the example above, any setup which might cost less than that might be theoretically worthwhile.
- If you leave Germany and return within 11 years, you get the exit tax back - so if that's your plan, you could "just" take out a loan and it mainly becomes a liquidity problem.
- Historically, there has been a strong tendency for Germany to tighten its exit tax laws over time.
- Different people have (vastly) different opinions on how "good" or "fair" this tax is.
- Discussing the exit tax has become quite a common topic among German founders nowadays.
Awesome. I'd be really curious which lawyer you were referring to - if you like, feel free to reach out privately (e.g. Telegram channel link on the website) :)
Juhn , I got swamped with their (annoying) (short) videos and also what I read about them was always more about selling than giving advice. It sounds like the lawyer you talked to had knowledge. I also find the 1.9k minimum fine compared to what the outcome can be
One of the lead developers is a friend of mine. In the mid 90s he was part of the Dust demo group, eg https://demozoo.org/groups/360/ so I guess then a lot of the algorithms were used for Max Payne then as well
Also interesting how his life changed after the game, he went a totally different route and left programming for good.
Remedy was heavy with Future Crew too. It was demo scene crew all the way down.
I came out of the demo scene into pro game dev, and there was a lot of useful overlap, especially at the time (mid 90s) when you were really trying to get anything 3D on the screen.
That’s what struck me immediately - these are all typical tricks from the 90s. I remember demos ( I think complex/dope in 95) where the awesome ‘real time reflections’ where actually an animated texture. I was quite impressed when someone explained the trick.
Focusing on chinese medicine, meditation, mindfulness.
He had a burn out. He mentioned to me in the mid 2000s after Max Payne 2 that he could not touch or see a keyboard anymore.
I just saw him last year, he is in good spirits, programming a bit again iirc but we did not talk that much about it. Still one of the smartest people I ever met.
To my understanding the lawsuit is not about Reddit's content or copyright infringements but in more detail about using proxy farms and other measures to get Reddit content via Google's results and thus breaking the DMCA and they go against services providing the infrastructure to do so.
A bit comparable to how pressure was put onto payment providers to restrict sites with extreme adult content.
The api is never the bottleneck but how fast the cli provides context. So just by using ripgrep it will be faster than using grep. On top of this concurrent code search compared to sync etc
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