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My Beligan Payslip Explained

Paying too much taxes? My Belgian pay slip explained

In 2020 Belgium is still the country with the highest average income tax and tax wedge in the world (OECD, 2020a). I’m willing to bet Americans’ blood would boil seeing my payslip at the end of the month. 52.2% of what my employer pays for me ends up in the hands of the government. For comparison, the tax wedge for a single with no kids in the US is 29.8% (OECD, 2020b). So where do these taxes come from?

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Working In A Bakery

Side hustling in Belgium: 6 real (side-)jobs providing additional income

In recent years, the Belgian government made it easier to make an extra income through a side hustle. In 2015 it introduced a new form of unlimited untaxed income albeit with stringent measures: Flexi-jobs. Later, in 2018, it introduced another form of untaxed income with a limit of 6,340 EUR. It is this last form that the Constitutional Court has annulled. But what does this mean for people that want to still earn something extra?

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Luxury Interior Residence Schuman

How one tax deduction reduced my apartment cost by 17K

Something interesting happened about a week ago. As you might have read –on my twitter feed or on the blog– I signed the deed of the mortgage and apartment. As a result I’m official the owner the apartment and the land the building is build on; Partially when it comes to the land. What I hadn’t mentioned was that I got a 16,575 EUR tax deduction!

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Brace Yourself, Tax Returns Are Coming

The Belgian tax return is coming

It’s that time of the year again. Time to fill in my tax return and either get some money back at the end of the ride or pay some additional taxes. It’s not open yet but I expect it to be in the coming days. Based on the info I could find online, it’ll most likely be 2 May.

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Banknotes And Coins On A Table With An Hourglass

The Most Important FIRE Ratio: FIRE Savings Rate

The FIRE Savings Rate (SR), is probably one, if not the most important concept you must understand when you try to reach Financial Independence and Retire Early. It’s also the perfect place to start if you are wondering how to get into FIRE. So, let us see what this FIRE savings rate or simply “FIRE ratio” actually is.

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