July-August 2025
I would like to wish you all a great summer and a very nice vacation, enjoying the freedom of the moment. Also, if possible, stay away from the anxiety of the moment with so many crises happening at the same time. I will close my office on July 4th.
Phoenix
Bird, rise high from the cinders.
Leave it all far behind, all the ruins and the fire.
Bird, raise your head from the ashes.
Many men lay dead, you can see them like I.
Phoenix rise, raise your head to the sky,
Phoenix rise, raise your head to the sky.
Those are the full lyrics to the 10-minute version of “Phoenix” found on the self-named debut album of Wishbone Ash, released in 1970. A concert version on the Live Dates album from November 1973 lasts over 17 minutes. As you can see, the lyrics are pretty much non-existent.
Wishbone Ash guitarist Ted Turner described “Phoenix” as an elongated, structured jam. It is considered one of the band’s masterpieces.
I discovered Wishbone Ash at the end of high school, while listening to the Live Dates version of the song. I have been a fan of the band ever since
WIKIPEDIA
“The phoenix is a legendary immortal bird that cyclically regenerates or is otherwise born again. Originating in Greek mythology, it exists in many cultures, such as Egyptian and Persian mythology. Associated with the sun, a phoenix obtains new life by rising from the ashes of its predecessor. Some legends say it dies in a show of flames and combustion, while others say that it simply dies and decomposes before being born again.”
This mythical bird is often used as an allegory about what happens after severe destruction. The world today abounds with war and destruction, but we seldom see the outcomes. Even without war, one can say that a country, a nation, or a group is going to its final destruction. In the media and in everyday discourse, people talk about what is happening today, how terrible the situation is, and never talk about what could come afterward. The media is an industry that must make a profit and thus sell a product that people want to buy. Images of war and combat sell well. Communicating about upcoming political decisions, creating anxiety, is also good for business. But reflecting on what may be the outcome of what looks like WWIII to many people, or the seemingly endless conflicts in the Middle East, does not attract attention and hence does not sell.
This is where the phoenix allegory comes into play. As we enter the summer and vacation time, enjoying leisure with family and friends, it might help to look beyond what the news is telling us. I do not mean to downplay the frightening time we are going through, but humans tend to believe that they are experiencing the worst situation ever, that no one has ever suffered as much pain, and that their country is on the brink of collapsing.
History shows us that such situations have happened in the past, and yet life has continued. The American Civil War is one example, and the 1789 French Revolution is another. It is a fact that humanity, continents, and countries have survived much worse episodes than what is happening today. This does not make our life any better, or watching the news any easier.
Persia, or as we call it today, Iran, has existed as a country for about 3000 years. Most likely, this nation will continue to exist, even though it is difficult to foresee what it will look like in the future. Even when a country disappears as a structured entity with a constitution and government, the people living there will create a new entity with representative leadership and a set of rules that will end up being a constitution.
The message that the allegory of the Phoenix gives here can seem counterintuitive. On the contrary, I see it as a vibrant, optimistic message. People should fight against destruction and incivility, and stand by those who are defenseless. Yet any loss, setback, or defeat discourages people from continuing. Still, even without knowing how terrible the destruction will be at the end, there will be a time to rebuild, and people should be ready to do the best they can so the best of humanity shines. This is where “Phoenix” comes into play for its allegorical message. I am lucky to regularly be reminded of that message by listening to this exceptional piece of music.
I WAS SLIGHTLY HANDICAPPED IN THE SECOND HALF OF JUNE
On June 17th, I ended up in the emergency room of Saint-Antoine Hospital near my office. It was nothing really serious, but I have had my right arm in a sling. This severely hampered my ability to type and work. For the first time, I drafted most of this column using a dictaphone. My son, Eric, helped me with the research. That is why it is shorter than usual and may not be the same style. I am sure to be fully recovered by September. Perhaps I should take this as a sign that my life and workload should be aligned with my age, considering that I celebrated my 66th birthday yesterday.
Another first was that I published my picture with the sling on Facebook. For my column, I always use a picture of myself dating back about 30 years. I decided I should inform my clients and the people who follow me of my condition so they would not be surprised at how slowly I was answering them.
A DIFFERENT WAY OF CALCULATING INCOME TAX IS PROPOSED
It takes a fair amount of time for foreigners to understand the way income tax is calculated in France. Since I am not a professional tax expert, I always say it is impossible for me to know your bracket without knowing if you are married, if you have children, and so on. The household (foyer fiscal) is taxed, rather than an individual. For a long time, the calculation of the amount of income tax owed was based on the income or pay of a husband and father, who was assumed to be the sole wage-earner. Inequality between the husband’s and wife’s salaries lowered the husband’s income tax and increased the wife’s. The tax office was paid in three increments every year: February 15, May 15, and September 15th. Today, only the last date is mentioned as being the deadline to pay all the income tax you owe.
A few years back, withholding of taxes on the monthly salary became mandatory, and the tax bill was split into two. This severely disadvantaged the spouse with the lower income. A new regulation now changes this and prorates the amount of withholding to the salary earned. Here is my translation of an article explaining the new regulation.
Starting September 1, 2025, a new tax rule will come into force for all married or PACSed couples: the withholding tax rate will be automatically individualized. This measure, which stems from the French Finance Act for 2024, is designed to correct the imbalances generated by the single rate previously applied to both members of the household. Currently, a single rate based on the couple’s combined income is applied to each, putting the member with the lower income at a significant disadvantage. In the new system, each spouse will receive a personalized rate based on their own income, unless they expressly choose to retain the household rate. Contrary to popular belief, this reform does not change the total amount of tax payable by the couple. It simply changes the way the monthly deductions are distributed. Tax calculation remains based on joint taxation, which means that any advantages associated with the family quotient are retained. This option has already existed ever since the introduction of tax withholding in 2019, but fewer than a quarter of the households concerned made use of it as of 2024. Its automatic adoption aims to generalize a fairer mechanism, while leaving the possibility of reverting to the common rate for couples who so wish. Understandably, not all sources of income will be affected by this: joint income, such as rent received in joint ownership or dividends from shared accounts, will remain subject to the household’s overall rate. Additionally, annual tax adjustments can be problematic: no tool is yet proposed for the equitable distribution of overpayments or outstanding balances, requiring complex calculations if incomes are very unequal.www.lemonde.fr/argent/article/2025/04/23/impot-sur-le-revenu-le-taux-de-prelevement-a-la-source-sera-individuel-pour-les-couples-a-partir-de-septembre_6599165_1657007.html
A POLICE RAID AT GARE DU NORD
On the 18th and 19th of June, nearly 4,000 officers were mobilized for a massive immigration control effort at train and bus stations. The Interior Minister announced that this mobilization was focused mainly on identifying undocumented aliens by asking everyone for their French ID.
“During these 48 hours, we will mobilize 4,000 officers of different services to question people in order to catch undocumented aliens,” declared the minister, Bruno Retailleau, on the new outlets Cnews and Europe 1. “Since the beginning of this year, we have arrested 47,000 people.” The minister has made the fight against illegal immigration his top priority. He personally supervised the operation at Paris’s biggest train station, the Gare Du Nord, on June 19th.
Similar raids have been made in the past, notably in 2024 under Minister of Interior Gérald Darmanin, who had also required stricter sanctions for non-respect of the Covid lockdown and curfew. But in general, such operations have been met with a lot of criticism, notably concerning racial profiling. Accusations of discrimination have been leveled, with cases where young men were approached with no visible cause. Some of these led to court cases that are still pending.
Since January 12th, 2015, elite French military personnel have patrolled the streets of Paris, train stations, and other places where large crowds gather. Their sole aim is to prevent terrorist attacks; they never get involved in policing and do not assist municipal police forces. As a result, some interesting situations occur when these two types of forces cross paths, though they pretty much ignore each other.
Without wanting to make too much of a comparison between what I consider to be two quite different situations, it is worth noting both the similarities – or what could appear to be similarities – and the striking differences between the French approach and that in the USA.www.lemonde.fr/societe/article/2025/06/19/operation-nationale-contre-les-sans-papiers-bruno-retailleau-prone-la-tolerance-zero_6614668_3224.html (article available in English on the website – please click “read in English.)
THE SHIP STUDIO IS AVAILABLE FOR RENTAL THIS SUMMER
The SHIP studio is currently available on August 1st. I am finally getting a lot more requests and have had to refuse a few lately as it was already rented. When people contact me about renting it, I send them to the website. I hope it shows how cozy the accommodations are. The monthly rent of 1,400€ is all-inclusive. While I continue to favor rentals lasting between two and six months, under certain conditions I have accepted one-month rentals.
https://www.jeantaquet.com/home-in-paris
OFFICE CLOSED FOR SUMMER VACATION
The office will be closed for seven weeks over the summer holidays, from the evening of Friday, July 4th to the morning of Monday, August 25th. As always, I will be reachable by email for emergencies and important matters. The service I offer of receiving mail for clients will continue while the office is closed, and Sarah or I will honor prefecture meetings already scheduled, as well as a few other engagements. Like last year, I should be away from the office for most of that time but I will stay in France.
Best regards,
QUESTION
BUYING REAL ESTATE IN FRANCE
Can I make an appointment with you to discuss financial matters and buying property in Paris? … I’m an American but have French nationality.
ANSWER
I must start by saying that, in many ways, the fact that you are a French national does not have much of an impact when it comes to purchasing real estate in France. Being a French fiscal resident is, however, quite helpful. Indeed, earning a taxable French income makes it easier to obtain a loan.
Also, in several ways, the financing of a property purchase is not the most important aspect of the purchase. Therefore, there are three topics I would like to review.
1. The notaire
2. The loan broker
3. The real estate market in France
1. The notaire
Your French nationality does not tell me how much you know about this profession.
Notaires have a monopoly on securing real estate transactions. Since the title to the property is rewritten every time there is a transaction, the choice of a notaire is critical. That choice should be made at the very beginning of the process, even before visiting any properties.
Without wanting to slander the whole French real estate agent profession, it will be best if you assume that all agents will lie to you about everything they have the right to lie about. The notaire, as a completely independent authority, helps you obtain legal and reliable information.
This professional must draft the presale contract and the closing. Two notaires can work together, each representing one party to the transaction. Do not let yourself be persuaded to let the seller’s notaire act for you as well; engage your own notaire.
2. The loan broker
Traditional French banks work with guidelines and risk ratios that make it useless at first to ask them for a loan, even when you have an account with them and have been their clients for decades. A relatively recent but growing profession has sprung up to act as intermediaries. They are known as loan brokers, and some of them specialize in non-French-income clients. Interview a few and see how they assess the risk you represent, then choose the one that offers the best deal. Your chances of success in obtaining a loan should take priority over the interest rate or loan duration. Once you have a couple of offers, contact your local French bank to let them know what you are considering. That will let them know they will lose a client unless they sign a loan with you. It will also give you good leverage to get an even better deal, provided that they agree to do business outside the box.
3. The real estate market in France
You need to know several things about the market so that you do not fall victim to crooks.
a. There are no multiple listings. Each agency has its own offer, and you have to check all of them, even the worst ones. That is why I am warning about their ethics.
b. The profession’s standards have greatly improved. Some 30 years ago, in 1996, a law had to be passed to make it illegal to lie about the size of properties being sold. In the years since then, the law has increasingly defined the topics on which the professionals must guarantee to tell the truth. These topics are collectively called les diagnostics – a mandatory report by a surveyor checking a long list of things. However, some real estate professionals continue to lie about everything that is not covered by official documents.
c. The frais de notaire amount to about 7% of the purchase price, and the deposit to secure the transaction comes to about 5%, which goes into the escrow account of the notaire, not the agent.
DISCLAIMER
Please forward this message to all those who would be interested in its contents. The information contained in this newsletter is intended only as general information. I strongly urge readers to seek professional guidance concerning the legal and tax matters mentioned. This newsletter is intended as a general guide and is not to be taken as professional advice.