We compare filing end of the year taxes in the USA vs. Denmark - Digital Denmark and taxes
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- เผยแพร่เมื่อ 7 มิ.ย. 2021
- Danes often ask us what it is like to file your end of the year taxes in the USA, and Americans ask the same of Denmark. So we've got this video to provide both perspectives. As an added bonus we explain a bit about how we have to handle this as expats, since we have to file in both countries!
Also, for the folks at Europark, if you decide to accept my challenge and donate to a charity from the money earned from my parking fine, email me with the details - travelinyoung@gmail.com.
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Europark is a private company. They are all about the money, so I wouldn't expect anything. :D
yes… Europark practices legalized theft
Indeed. Don't hold your breath. Those SoBs will f you over any day of the week.
Sure they are...as Amazone, google, Apple as Toy are us, Bilka, Superbrugsen, Matas, etc..... they are on the market to earn money...DAHHH. Whats new? Who are you working for....and for what... for fun? Deal with it. If you break the rules of parking..you have to pay, if you drive to fast...you have to pay...as if you go on a train without ticket..you have to pay fine. I really cant see anything else but sad souls who just are complaining on the Social medias. Pay attention to the parking rules as the rest of us..then you´ll be fine and not FINED!
Hmm well actually might actually be a smart move for Europark, spend 1000Dkk on a charity, witch is tax deductible, and then have Joshua give them some good publicity. 😁
@@sleni5501 Nope. It's not the same. Europark is basically taking land AWAY from the economy and infrastructure. Those empty lots from 19:00-7:00 it's just poorly used real estate.
I sat with my host parents trying to learn something about the American tax system but seeing their pain and grief as they found out how little they actually made from 3 Jobs each. It was heartbreaking. I'm glad that it's not the same for you guys.
It's always funny to me how the USA seems to use so advanced technology in so many places, except for civilian stuff that's just the same as it always has been.
they do spend a lot of money on equipment that can kill. lol
Also, pretty much all institutions in the US where science matters, made the switch from imperial to metric decades ago; the health sector, defense, universities, colleges, NASA etc. But when it comes to common citizens, shopping, traffic and schools, the imperial system is still promoted.
@@thoso1973 ej, det var godt at høre, troede kun det var NASA der brugte det😀👍.
Companies are basically paying US politicians to not switch to a Scandinavian system (return-free filing, online, ...)
@@thoso1973 And DK removes post boxes in smaller towns forcing the older generation to pay postage via PostNord app, which many can't figure out....
Never would I have thought I would click a on a video, with the titel "filing taxes"
Europark is a Business, the more fines they write the more profit, but they do provide a service the City wants/needs.
Another great video. The little teaser in the intro sums it up sooo well. And good luck getting your US tax return approved.
I love the Tønder part. A long time ago, I thought about recomending the Tønder Festival to you because of your music preferences. I realise now, that you are totally familiar with the festival. Thats really great. I was born and raised there (now living in Copenhagen), and loved growing up with the music from the festival. Thank you for your great videos!
Brisket is hilarious trying to wrestle with Joshua like there is no tomorrow.
Yep, a very active, allmost hyper, dog thats wants to play :)
Whenever we get called the happiest people on the planet it's because of stuff like this and nemid and our health system. It just relieves us of so much stress.
NemID and our health system is no way near the only reasons...
Yeah, but Finland and Norway seems to have beat us now...
@@Donnah1979 Norway, Sweden, Denmark and Finland makes No difference if u'r middleclass
Jeg hader nemid. Du skal bruge nemid for at bestille en skide pizza?, hvad sker der
@@Jacob-Simonsen Middleclass pays the taxes in tax-centric biospheres
17:00 So Josh basically turns into Santa every June
*signs happily* "He's making a list, he's checking it twice!"
For the second time in my life I am glad for watching a video about taxes. Your previous tax video was the first time :)
Haha! Welcome to our tax videos ;).
Good on you on the donation. I don't have high hopes that Europark will follow suit, unfortunately. Sounds like we have it rather easy regarding tax returns, after hearing the comparison to the States, I think I've taken our system for granted. Thanks for the video!
Europark donate? Not a chance, all profit. However, the idea with companies checking parking is still good. A nuisance but still necessary.
the elderberry flowers are almost here... suggestion for try it out tuesday, make your own elderflower lemonade from flowers you picked out in nature :D
Great idea
My grandma had a traditional recipe on a so called "saftevand" which I could translate for the young Youngsters
@@emilsmadvlogs5879 nice. Ilove to make elderflower saftevand :D
I was actually planning on that too
@@emilsmadvlogs5879 So do I. It's in "Den Grønne Syltebog" from Tørsleffs Husmoder Service.
I would really recommend watching the Adams Ruins Everything episode on "The Real Reason Taxes Suck." It's a short clip, but basically he explains that the US government has tried to introduce a system similar to Denmark's in the past, but companies like H&R Block have lobbied to block these proposals
Absolutely check that out
I've said for years that lobbying is one of US' biggest issues. It's so hard to make positive changes.
th-cam.com/video/vGVK4ibMI-Y/w-d-xo.html
I would take everything Adam says with a grain of salt. Some of his videos are quite biased and his sources/videos have been debunked in the past on multiple occasions.
@@lassehansen3056 He also took the time to correct himself, which makes him a lot more credible since it's human to make errors.
Great and interesting video. Thanks for sharing . Im looking farward to Friday =)
Love your content, it's really interesting to get another perspective on our danish system and culture. Sounded like Miranda was ready for a couple of "clean" shots (for science), but no luck 😄
I mean it's always good to have a control group, right? 😂
I would love for you to make a video about the american credits system. I've wondered how it actually works, and what you could compare that to in Denmark. It's something about getting credit cards, and how much you spend, loan and pay back, contributes to if you can rent an apartment and stuff - right? As I said; I don't really get it 😅
If you could also mention what the benefits with that system is, that would be great!
Thank you for another awesome video. I love following your family and seeing you experiencing Denmark.
In Denmark, there is a database of unpaid debts which landlords and banks can access - but it's nowhere near the oppressive surveillance-like system of credit scores you see in some countries.
I had a friend in Scotland who had a credit card she'd use just so she could borrow money and pay it back to improve her credit score.
Meaning, she was literally giving the bank extra money just to prove she's a "good investment."
@@Sorenzo Of course you know that you can "accidentally" buy a property in DK tied to a debt you had nothing to do with and "ejer skift forsikring" won't help...
@@Sorenzo this is not true. The credit score is comprised multiple criteria. You do not need to pay interest to have a better score. Debt to income, new credit lines, missed payments, checked credit history, and a few more all factor in. If i borrow 1000 dollars and pay back the 1000 dollars before my payment period ends, then i will increase my credit score without ever paying the bank interest. Your score and your bank or credit union also factor in the interest rate you pay. Credit cards become troubling if you borrow and do not pay back because some have high interest rates.
Taxes are really easy in Denmark nowadays but it wasn't so a few decades ago. Back then it was in paper form and you had to fill all the numbers in yourself. Many people had a hard time with it and they could buy a book called "Snyd ikke Dem selv i Skat" or in English "Don't cheat yourself with taxes".
I don't miss that time... 😆
LItterally got my first parking fine in 8 years last week. I did everything by the book but wrote the wrong plate number because I simply forgot I had borrowed a different car. I complained and got it reduced from 790kr to 250kr. So that was kinda nice
Sitting at Frk. Friis cafe in Bondebyen. Smiling while watching your new post. Have you been? It is so charming.🍰☕
It’s a pain how the US imposes a tax requirement based upon citizenship. Most countries do not make their citizens file any taxes if they don’t live there anymore.
Denmark also applies a "global tax" regime - where ever you go, you pay tax in Denmark.
@@dusk2dawn2 Denmark only taxes global income on people who are considered to be residents of Denmark. If a Danish citizen becomes a resident of another country and they have no income from Danish sources then their income is not subject to Danish taxation and does not even have to be reported to Denmark.
The same cannot be said for the United States. US citizens are always subject to US taxation on their global income even if they do not live or have never lived in the United States and even if their income is not from US sources. If you are a US citizen then your worldwide income is subject to US taxes, period. This applies even if the person is also a citizen of the country where he resides.
There are some ways to take credits for taxes paid to the country where you reside and to exclude some income from taxes but there are a lot of holes where a person in this scenario ends up having to still pay US tax on top of taxes to their country of residence. And they must still file a US tax return even if no taxes are due.
It also makes saving for retirement difficult because many of the tax sheltered savings schemes to save for retirement outside the US are not tax sheltered under US law. The income from those schemes are fully taxable in the US each year when the holder is a US citizen who resides abroad, even if the holder is also a citizen of his country of residence and it would not be taxed in that country.
@@SCGMLB You're right. I over-simplified my post as the real thing is way more complicated. Keep it up!
Interesting.I have not lived in Denmark 🇩🇰 since 1960 and so much has changed a lot. One other thing changed is the cursing. I am planning to come home and see my friends again. Mange Tak for alle jeres rejser , rart at see it igen.🇩🇰🇺🇸❤️
The cursing is definitely become worse since 1960, some of the reasons is because of US cultural influence on Danish culture, movies, games, music. And less religious influence in Society.
About the "7 hours waiting when it comes out" thing about DK tax statement; I usually just wait a day and check at 4 AM or so, then it's quiet enough.
But yeah waiting a week+ works too.
Have you ever tried "Koldskål"(milkbased dessert wtih eggs and lemon, served with vanillacookies (kammerjunker)) for Try-it-out-tuesday. Its sort of a summer classic for many danes.
If you do try this, make it yourself :)
Yeah, that's a must-try!
To clarify more, it's made with Buttermilk (Kærnemælk)
Det er da noget af det klammeste
@@pepsimaxerbarelkkert6386 du* er da noget af de klammeste
Thank you for the info about you guys having to file in the US as well. I did not know that prior to this video :)
Living and working in Sweden and owning a house, I have to file in both countries.
Hey if you like the Tønder festival,try the Kløften festival in Haderslev,when they start again nice 3 days in a nice spot in Haderslev.
SKAT is the old name. Since july 2018 it is Skattestyrelsen, who makes your "Årsopgørelse" :) And so pleased about your donation to the Tønder Festival :)
Hi there, hope you like living here in Denmark 🥰 we used to have all the paper work too, but 20-30 years ago 😉 enjoy your videos, so interesting seeing our way of living, from people from outside. Best greetings Lili from Northjutland/Nordjylland
Brisket is the fun part, that makes Taxes less dull ;)
Ha, very true :).
Fun fact: The Danish tax authority is called SKAT - which just so happens to be how we Danes call each other "honey"... and also just so happens to mean "treasure", as in a pirate treasure ~ so the name also has the connotation of muttering a sarky "honey" to the tax authority + being a tip of the helmet to our Viking ancestors robbing everyone blind. Indeed, any formal letter you write to the Danish tax authority will therefore naturally begin with the words "dear HONEY" (Kære SKAT). Used to be called "skattevæsnet" meaning "tax authority", still is called such in Sweden and Norway - but in 2005 we deliberately changed the name to that kind of triple entendre, from "Told og Skat" (Tariffs and Tax). Denmark has a shit ton of such little wink-wink nudge-nudge names, both public and private, and they're not coincidental: we don't necessarily come up with them deliberately, but when we happen to come across them, we don't leave them out ~ very good demonstration of Danish under-the-breath/tongue-in-cheek type humor... if you can't giggle at everything, especially tax and death, then what's the point? Maybe that's why we've been the happiest country on Earth so many years running? Do your job, but otherwise don't take anything too seriously! 🥐🇩🇰💗 ✌️😄
EDIT: Indeed, as the astute reader will have noticed - this also means that Danes implicitly call their loved ones "tax"... and that probably ain't entirely coincidental either... 😁👍
Ha, I noticed 'skat' also meant 'honey' when we were watching the Summer of '92 video. It was said a few times and felt like an odd place to be talking about taxes :).
@@TravelinYoung Well, spotted - it ain't coincidental, it's very much Danish humor... now you know... 😉👍
@@TravelinYoung Indeed, if you didn't catch the other little tongue-in-cheek piece of humor - it means that Danes also implicitly call their loved ones "tax"... and that probably ain't entirely coincidental either... 😁
@@lkjh861 they also call marriages ‘gift’. Hmmm :). Love you Miranda!
@@TravelinYoung Uuuh, you're learning! A+ for that one! 😁
Thats right. Brisket is insane. Insane cute that is 🥰
If your income or other financial items changes, you can go in and adjust it later on in the year. I usually do a check half way though the year to see if it still matches what I predicted so I can avoid any unwelcome surprises.
I remember my father back in the 70ties piled up the dinner table with tax papers and spend half a weekend filing in the danish tax.
It was always around my birthday at the tax had to be filed no later than May 1st.
If I'm not mistaken companies like TurboTax spend millions lobbying to make sure the tax system stays complicated in the US.
Wouldn't surprise me at all.
I enjoyed watching this video next to my dog, while watching your cute dog being playful ❤️😊
Haha!
ref: 12:30
In Norway we would use two glasses and, alternate between them (also used with Jagermeister and other bitters).
Love that you're supporting the Tønder Festival :)
It is such a great festival, a treasure. We can't wait to get back again next year :).
@@TravelinYoung Missing it too
Thank you so much for the donation to Tønder festival much love ❤️❤️❤️❤️
Absolutely, we love it and are happy to help :).
When Skat let's me know to check on my taxes in E boks, and do what has to be done, My dad helps me along the way, so I can be sure everything gets done correctly 😁👍
After the process of giving all those crucial details, another page says that I will receive a small amount of money etc.
I don't remember if I gave you guys this recommendation before, but if you're planning on doing some travelling within Denmark this summer, you should check out the 6th of July festivities in Fredericia. It's a festival that's been going on every year for over a 150 years at this point. It marks the turning of the tide during one of the Greatest wars in danish history, in 1849. I would happily accompany you through it All, maybe alongside my husband when he's done walking in the military parade.
Thanks for the offer, that does sound interesting. Unfortunately this year we have a few things plan around CPH around that time, so we may need to plan for that next year.
@@TravelinYoung No problem! Looking forward to seeing what you guys have planned for this summer! :D
I did in the last video :) ,, glædelig 6 Juli
Fortunately our taxsystem is very easy to handke now. But when I was young, some forty yars ago, it was just as difficult to handle as the US system still is. As you have noticed, it is also very easy to corret figures and so on. Being on pension now I never corret the "forskudsskat" the asumed tax for next year. In that way I almost always get some money back the following year, which is rather cool 😊
Alcoholic Try it on Tuesday suggestion: "Æblekage" : Equal parts of Licor 43 and Apple Juice. Add whipped cream for authenticity. 👌
Holding and stroking Brisket while staring at the camera.
All I want is for you to Say "So we finally meet, mister Bond"
I got the craziest Bond Villian vibes from that part. :D
Haha, then I need to come up with some elaborate torture. "Mr. Bond....while you are typically used to lasers or other more traditional forms of torture, this time we will subject you to hours of discussions about taxes. You shall remain tied up and forced to endure lectures from accountants from multiple countries, until your ears bleed. Our focus groups have determined this is in fact the least humane way for a person to die, especially a SPY. Brisket and I will now take our leave, we will see you on the other side...Ha Ha Ha Ha."
Oh, that's an interesting topic
Coming from the UK the Danish taxation system for citizens is a dream in comparison. I still have to file a tax return in the UK (as well as in Denmark) and the contrast is remarkable. I do actually use a tax accountant in both countries, but the guy in Denmark uses about 10 minutes to make some 'tweaks, and costs me very little) where as the guy in the UK genuinely has so many 'hoops' to jump through that (if he is not watching this) I rather feel sorry for him (although his charges are also very reasonable). The key is not the 'rules', nor the requirement to 'pay' taxes, but rather which parts of the process are automated. If the UK could just grasp the automated reporting systems then I am certain the situation would be remarkably different.
Very interesting, thank you.
I was once on a bar in Austin TX on "Loser's Night" which turned out to be the day the US tax returns should be submitted. I've never been so insulted by a bartender as that evening. It was hilarious and we had a great time. Now I know why :)
I pay taxes in the US and UK. I also used to pay taxes in Sweden. Sweden is like your Danish experience, USA is the extreme, and the UK somewhere in between.
@@samsabruskongen I still have to file US taxes along with my UK filing. The US filing can be 80 or more pages across 15 or more different forms.
Brisket seems to be trying the old "talk to the hand" that is common when people are discussing taxes...
Haha, well played.
Hi guys :)
I was wondering if your perception of "local" has changed since moving to denmark. I have always wondered how it is in the US, since being born in denmark, i am used to everything being very near by.
Yeah, in the US i drive 15-20 minutes to a supermarket. In Denmark, it is a hassle to go 10 mins away
filing taxes is like an alien concept to me as a dane. It just goes automatically. Its like an American concept. Another great video guys :)
Nice attempt on "årsopgørelse"
As an elderly Dane I used to fill a form, and then pay the tax the year after! I also did my Service when we changed from that to paying instant tax, and my former tax was then given up, as we hardly were paid anything during doing Service. So I came home, and started working, and got all my salary paid out, because I had no "old tax" to pay!!! 😁
Have you guys ever done a video on "SU"?
If not I would love to hear your opinion on that!
Tønder Festival is awesome, crossing fingers for a 2022 festival.!
You can try the Rød Aalborg in coffee with sugar. It is called coffee punch (kaffepunch) and is popular in southern and western Jutland.
Mads means sugar :)
@@sebastianricks9459 My bad. Changed the spelling.
Never use Rød Aalborg for a coffee punch. There you have Brøndum Snaps.
@@harryjessen Just use a moderate amount of Rød Aalborg and it is perfectly fine for coffee punch. Enough Rød Aalborg that you can taste it easily, but not so much it overwhelms the drink.
The system in Belgium were I used to live is very similar to the US system.. for a Dane it was so stressful, you never know when the tax department will take another stab at you, now two years since i moved back to Denmark, they still contact me with bogus requests and I still need to retain an accountant in Belgium. While here in Denmark my taxes are so easy :-)
Yes, and also easy for criminals😒
You need to tell one thing.
If the Danish Tax Agency observes that your tax circumstances have changed during the tax year, they will prepare a new advance statement to avoid you receiving too much residual tax (restskat).
A few years ago, I heard the then head of SKAT departement of income tax in Denmark say that the goal is for the word "restskat" to disappear from the Danish language.
DId you get a new camera :O ? Maybe it's just the light, but the video looks goood ^^
I did, and a new lens! Thanks for noticing :).
Did you say Tønder Festival? I live there. The festival is such a nice event for the city. :)
We did! We love it, we went the first two years we were in DK. Can’t wait to get back again next year :).
Still waiting for frikadeller as a try it on tuesday
Taxes, taxes...everyone's pet peev!! 😱
Regardless of how it's done, it's still needs to get checked and double checked, but truly much easier, here in DK 👍
...and then the race to Skat, to see whether or not, a 'cash bonus' will be in your immediate future...that plugs the internet, quickly!! 🤣🤣
Sucks, that you have to do it twice, but isn't it great that the Danish system, is just a button away?? 😉
- hello from Denmark 🌸🌱
In my youth it was nearly as complicated as you describe. This was 40 years ago. I don't recall when 'årsopgørelse' changed to 'click here if you agree' and later to 'If you are happy with this don't to anything'.
I think I did my taxes in 98, 99, and 2k. After that I haven’t really cared enough about to even check. I’m sure they’re spending the money more wisely than me anyways. I don’t know when Norway got the same type of system the Danes have, but it made little difference to me. I just make sure I prepay a bit more than I should, so I have extra money come summer
You are Such lovely people. please feel free to stay here as long as you want to. :)
Thanks so much!
in the u.s. it could be as easy to do taxes as in denmark, of what i have seen/read (can't remember if it was a news story or youtube story). irs already got your info. how else would they know if you filed your taxes wrong. but there's lobby against the irs doing work for the people. how should private business earn money (software, accountant) if the goverment is doing their job
I would say it is a bit of a mystery of what they do and don't know, unlike Skat they don't disclose what has been reported about you and your tax situation.
What infuriates many Danes about parking tickets is that many of the parking companies are private limited companies. The fines you pay end up as profits in their fiscal report - and from there dividends are paid to the owners to help pay for their limousines and yachts. That type of business is as UNDANISH as it gets and it pisses most people off.
Those bastards should be nationalised.
@@KurtFrederiksen costumers, payed ?
@@KurtFrederiksen Private parking lots??? If you park (I don´t even own a car myself) in the wrong space i my own neigborhood, you wil be fined by Europark. To me it is like private law enforment. That kind of fines should not go to a private compagny, but to the community.
@@KurtFrederiksen Wow.
I always felt (from how I heard about it) that taxes in the US, is that YOU have to calculate how much you owe in taxes, then send it in, then the IRS double checks and if you pay too little, they hit you over the head with fines.
While in Denmark if feels like the other way around.
You fill out some simple forms, SKAT calculates how much you owe in taxes, YOU then double checks and if there's any problems, you fill out some other simple forms or call them, and then find a solution.
Yeah, I totally forgot to mention that one year I needed help and called Skat and they walked me through what I needed to do. Super helpful and non existent in the US.
And in the "olden days" here in Denmark@@TravelinYoung
You got interest if you paid to much in taxes, so many people used it as a small savings, because you got your refund just around summerbreak, so it was nice to get that small lump of money just as you went on holliday.
But now you don't get that much in interest so it isnt that good of a deal anymore :D
@@bazzakrak Ha yeah, soon you might owe them for negative interest like with the banks. Ugh...
@@TravelinYoung I work for SKAT and I can tell that negative interests will not be a thing if you if you receive excess tax on your annual statement, the interest rate is set after the National Bank and they can not make negative interests :)
@@julieh0410 Nice!
For your next movie night you should go watch "Rita" on Netflix. That series is awesome, and I think you´can enable subtitles. I'm curious if you like it.
you guys should try out something called Nordsø Bitter, but everyone know it as Nordsø Olie. That will put hair on your chest, and every other patch of unoccupied body area with out hair.
They actually release the årsopgørelse the weekend before 😝
Tak for info 😀👍
That just mean everyone is checkin it at that weekend 😉
The way you do taxes in the US is also how we did in Denmark back in the 1970s and 1980s.But then Denmark moved into the 21st century while the US was more preoccupied with moving back to the 18th Century..
brisket just looooooove your videos cause you can all share a couch together!
I remember back in the mid-80s when I started working, that we needed our end of year payslip (which stated, annual earnings, acvumulated taxes, etc etc), as well as bank statements etc etc in order to do the tax return in the Spring. Back then it was a nightmare! Now it's - as you said - supereasy 👍
Also, back in the day you could have the payroll office pay a few extra % to ensure you were covered, and it would help ensure you got money back (both when it was all manual, then well into the digital age). About a handful years ago it was changed so you no longer can do this. Now your option is to set your income quite a bit higher....
I commend you with the donation, but wish you luck in getting Europark to match you. At the end of the day Josh, they ARE a business, and they are (mostly) upholding the traffic laws re parking. As I said in my comment to the clip about the fine, peoples sloppiness re the actual spaces has caused a tightening of the laws and how little it takes to get a fine. We get bummed out, pay it, chalk it up as a learning curve, and move on.
Yeah, I don't expect them to do anything, but that can't deter me from trying :). I support the need to regulate spaces to avoid abuse and sloppiness, but I also know there are many more ways to accomplish that goal without punishing honest people. That doesn't feel very Danish to me. We live in a world that has self driving cars but DK still relies on self setting parking discs and simple mistakes as a method of extracting revenue, I expect more from a smart digital country like Denmark. For all the good things I say about Denmark, I also need to point out the bits where I don't agree. Need to be fair. In this case Tønder won more than Europark, even if they only get my donation, which makes me happy :).
@@TravelinYoung - I agree with you! 👍
I love how Brisket is trying to play bite Joshuas hand as he is explaning xD
I hope to see the Youngs at Tønder Festival next year ^^ would be super cool with a meet'n'great at the festival.
And for a try it on tuesday i would love to see you guys try Mjød/mead, just stay away from the brand "Dansk Mjød" cause it has an after tast of hand sanitizer at least in my opinion.
have a great day ^^
I would love to do a meet and greet at Tønder, great idea! I will let you in on a secret....next week's Try it on Tuesday is Mjød. Don't tell anyone ;).
@@TravelinYoung glad you guys love the ideá ^^ i hope you guys didn't get "dansk mjød" since it doesn't tast like the real stuff ^^
LOL! Your good folks 😉😉 ! I'd love to see what Europark does 😐 !? Not holding my breath though 😁 ! Apart from that, yet another good post! We must seem SO Smug 😉😉 ! But we're only 5,8 million, as apposed to 320 million in the US. So things are easier done here, than in the US.
HHaha great point! I wish they would!! Very genereous with the 1000 kr. 👍
About the parking. I Germany the fine is (75kr =10€)..and here is it 750kr = 100€)..a big different. Here in denmark, the steel our money.
of course, needs to know how much we will get back or need to pay....its VERY importent we all know that as soon as posible :D
It started in 1970 with “kildeskat”.
The employer would deduct the direct taxes from the employee before paying him/her.
And the banks would report the taxable and deductible numbers, then the unions and so on.
If you give to charity you give them your cpr info, and you can deduct automatically and so on.
So now normal tax-payers don’t have to do anything
Except report how many days and miles of commuting to deduct, plus any private deals that provide taxable income, such as lending small amounts of money to friends or family, resulting in earning taxable interest.
Yo Joshua, what is the make and model of your watch? Looks great.
It is an Omega Seamaster Planet Ocean from 2012. The only watch I have and I've worn it every day since I got it :).
@@TravelinYoung it's nice as hell. I've got a vintage Seamaster myself, inherited from my grandfather. Those really are watches that'll last you a lifetime or two.
@@nicholaswoollhead6830 super cool you’ve got one from your grandfather! It is amazing, so well made. I need to polish the band but otherwise it still looks perfect.
@@TravelinYoung and just to tie it back to your channel here, he bought it in the 50's so he could keep time when he was showing American tourists around the rubble piles of Europe after the war. On one of those trips he met my American grandmother, who eventually moved with him to Copenhagen. I shudder to think what emigrating here must've been like before Danes got good at English.
@@nicholaswoollhead6830 Wow, super cool! I agree, it must have been super difficult. One of my grandfathers immigrated from Italy to the US without being able to speak any English. I now have a much greater appreciation for what he did knowing it had to be 1000X harder than our move to DK, a country that can speak my language.
Europark is not a non-profit volunteer community service, it's a private for-profit service provider. That this service is highly beneficial to the community at large is coincidental.
They are hired by whoever owns the parking spots to ensure that they are used as intended. When parking in a private parking spot, you are on someone else's property, and the parking company is hired to regulate that. Businesses hire them to ensure that customers and workers have access to their premises, and isn't used by random people that don't make them money, for example.
There is a sign (a contract of sorts) by the parking spot or area, listing a set of rules to follow if you wish to place your car in that spot, and a listed fine for breaking those rules that you agree to by parking there.
Hi guys.
I don't if you have done so already, put could you do a video about what it took for you to get permission to live and work in Denmark?
And what you have to go through to get bank accounts and such.
Thanks
th-cam.com/video/YWVHfn_zIS8/w-d-xo.html - Video we did about the move here. As for bank accounts, I had my first employer help me. They came with me to the bank along with my employment contract that they vouched for. That made it much easier, I've heard it hasn't been so easy for others.
@@TravelinYoung Just watched the video, and wow, it made me really sad on your behalf. I just wanted to come by and say "Hey if you need any kind of help at all, call me and I will be there". Glad to see have gotten over that hurdle and beginning to find your place here.
By the way, really good video. Well produced and presented.
@@michaeladler3035 Thanks! I will say that this video was one of the early ones we did. And this community through the channel on TH-cam has really made us feel more connected to Denmark. It has been a positive experience for us and I’d probably update a few bits of that video based on this past few months if I could.
about the parking. I know that my municipality have just reintroduced parking control because people in some parts of the municipality was complaining about not being able to park safely and near the places they needed to go to. we have had about 4 years without and it is apparently not a ideal situation when people start parking anywhere they want for many days at a time.
The reason why all Danes want to come in and see their annual tax statement at the same time, is that they want to see if they have to pay extra tax to the government or if they get money back because they have paid too much in the past year.
Many people deliberately set their income a little too high, to be on the safe side. Sometimes you get several thousand kroner back (paid out in May I think), which is nice with the summer holidays coming up.
Makes very little sense when you think about it. You have 2 months to pay extra taxes, and any surplus taxes wouldn't be paid out till May anyway.
Question: have ye thought about applying for Danish citizenship and renouncing your US one, as that is the only way to escape the taxes?
Gonna be a fun one 😂
So I'm a Dane living and working in Norway witch mean I've to do my taxes twice as well. Luckily the Danish and Norwegian tax systems are both easy to do. I think the Norwegian tax-site has an even better interface than the Danish tax witch makes it super easy.
Josh is right I'm not paying extra taxes in Denmark even though I'm paying less taxes in Norway but that's only because my Danish tax deduction covers it and that fact that Denmark and Norway has a "dobbeltbeskatningsaftale" (double taxation agreement) so you'll avoid paying your taxes twice, however I think if I would pay way less taxes (so that my tax deduction isn't covering the difference) I would have to pay some extra taxes to Denmark? But maybe that only because I still have an address in Denmark?? Tbh I'm not a 100% sure how it works I just do my taxes and pay if I've to...
I of course don't have experience as a Dane so I am also not 100 percent sure. I wonder if that is a special agreement with Norway or because you maintain an address here. Danes who lived other places have told me that wasn't required, but those are anecdotal. Americans are often confused and some go years without realizing they need to file when living abroad. It is complicated.
@@TravelinYoung - and if you work up a tax debt to the IRS you cannot resign your US citizenship (and avoid paying US taxes) until you have paid your back taxes.
@@TravelinYoung - at least you still have the privilege of being able to vote in US elections in return for being an US citizen and (theoretically) pay US taxes, right?
Guess what happens when a Danish citizen is outside the country for more than 6 months? Still have to pay Danish taxes, but no right to representation...
@@TravelinYoung I know there is a Nordic work/tax agreement. That makes working and paying taxes across the boarders easier also if you’re a commute-worker, the same goes with Germany.
I’m pretty sure the reason I have to do my Danish taxes (and maybe pay if the deductions aren’t high enough??) is because I still get the Danish benefits by having my Danish address so it’s only fair I’ve to contribute with taxes or at least prove that I’ve payed my share (although it’s to the Norwegian government) But like I said I’ve no clue how it works I just go to the Norwegian site do my taxes and afterwords do my Danish taxes.
That’s the nice thing about the system in Danmark (and Norway) you don’t need to have a legal- and an economical degree to do your taxes right you just type in the numbers they are asking for and they’ll figure out the rest.
Nop we are waiting to see if we get eny taxreturn
if you work in Norway and do not pay what you should do in Denmark . you do have to pay in Denmark what is missing ;)
The danish system is weird because it's semi atomised, but you still need to double check everything in retro perspective.
Revisiting 😊! Q: Can't you just transfer any fonds, savings or other values to a Danish bank account? Would you risk being so harshly taxed for this, by "Skat" (Danish IRS - for non locals), that the hassle of filing taxes in two countries, is just cheaper?
You have to file in both countries regardless of where the assets are. One annoyingly unique thing about Denmark.
I'm confused. Why? If your an American citizen, with no assets in the us. why would you stil need to file in the US? Is it some nonsense DK rule? BTW. I also follow some US expacts living in Germany, for 10 years. They can apply for dual citinzenship. If they wished to cancle there US citinship, that could cost up to 10.000$. Have u heard that? Not that I think you should give up your birth citzenship (I wouldn').
@@KHValby it’s actually a stupid US rule, not because of DK. Can’t say why except it is how it is. Though, when you live in a high tax country like DK it’s just paperwork. If you lived in a tax haven you’d need to actually pay taxes in the US despite not living there.
I have heard about costs to surrender us citizenship. From what I’ve seen that cost is under a certain set of circumstances that doesn’t apply to everyone. But doesn’t matter as I would never give it up anyway as the tax issue is more a hassle than anything monetary thanks to the high taxes here :).
I don't mind the idea of dual citenzship, but I agree! I would never give up the one I was born with.
Brøndum makes a snaps that’s devoid of taste - good to mix
Fun fact pretty much every American president in recent years, both republican and democrat, has talked about wanting to move to a system more like the one we have in Denmark (and a lot of the world), and it's been brought up in congress multiple times. Unfortunately, the tax software companies lobby intensely to prevent it, plus the current system help create dissatisfaction with the IRS which is considered politically convenient for some.
A question if you then have to pay more tax in the new country than you would have paid living in the US. Do the US then refund the to much paid tax compared to what you should have paid if living in the US. Earning that amount of money that you paid tax of?
No, but they let you carry it over as a credit to use in future years in case the situation changes and you end up paying less in taxes at a future time rather than more.
New tax segment "File It On Friday" on sister channel Taxin' Young :D
Ha, you already recognize my expansion plan for channel names :). Might not be Taxin' but I have been considering "Gearin' Young" as a channel that talks about the gear I use to create all the content. And maybe one day Miranda can have "Craftin' Young". :). Just need to figure out how to do this without being overwhelmed...whew.
Add excise taxes & car taxes in Denmark, you save more in usa if you're in middle class
How are thing going on the liquorice side of things?
Miranda here! Ive actually clme to like quite a bit of the black licorice. I love a good bag of Skole Kridt or Haribo Dark. I still dont like the strongly sallmiak flavored ones though. Slowly but surely!
seing all your vids im amazed how much you guys drink ( thou its a personal observation and yes you drink more than a regular danish mom and dad lol
The donation thing is quite a fun Danish/American difference. Danish companies don't donate to the same extent that American companies do, and are not necessarily expected to be especially community conscious. The stricter laws and higher tax means, that companies can focus on doing business within the rules, and let (most of) the moral considerations be a political issue.
Makes sense, we learned this a bit when we moved here as Miranda used to work for a non profit in the US that relied on charitable contributions. She couldn't find a similar job here. I am hoping Europark would be willing to break that a bit and demonstrate they are as community conscious as their defenders say. I am not optimistic, but I did my part regardless. :)
@@TravelinYoung haha yeah would be cool though unlikely. I always try to just accept tickets as calculated cost of a car. I have zero sympathy for europark, but the people giving the tickets really have it the worst and "often" get jumped and beaten up by angry people.
I took the liberty of informing the general queries mail inbox of Europark about your experience and subsequent challenge - I hope you don't mind, I think it'd be cool if they did go ahead and match or surpass your charity, though it is slightly surprising that they don't already show themselves donating to charities on their website since most Danish companies do that because it's deductible to a limit of around 17k DKK pr. year if memory serves me, and thus it's 'almost free' up to that limit as long as the company has sufficient yearly liquidity to carry forward that size of an expense, and it's just great PR practice for companies to pick out a few charities to support and then be allowed to show their logos and soforth on signage/websites, which i'm sure most parking guards wouldn't mind the company HO doing a bit more of :)
This is awesome, thanks!