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Lawyer - Is Translating Worth It?
מפרסם התגובה: LegalWorks

Vladimir Pochinov  Identity Verified
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Do you want to earn it or enjoy it? Jul 8, 2014

@Sheila Wilson:

Exactly.

I don't want chicken-feed my government calls a pension, and I don't want to retire at the prescribed age of 60 (and they are discussing whether it is a good idea to increase it to 65 for males:))

One of my current ideas is to divide each year in four parts (since consular sections at embassies generally issue tourist visas valid for up to 3 months), and keep roaming from country to country, depending on the season (or on where my f
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@Sheila Wilson:

Exactly.

I don't want chicken-feed my government calls a pension, and I don't want to retire at the prescribed age of 60 (and they are discussing whether it is a good idea to increase it to 65 for males:))

One of my current ideas is to divide each year in four parts (since consular sections at embassies generally issue tourist visas valid for up to 3 months), and keep roaming from country to country, depending on the season (or on where my favorite band is scheduled to perform during their world tour, or otherwise)

[Edited at 2014-07-08 12:42 GMT]
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Vladimir Pochinov  Identity Verified
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One needs a unique selling proposal (a unique mix of knowledge, expertise and skills) Jul 8, 2014

Maxi Schwarz wrote:

You should also be looking into what specific skills, criteria, and approaches you need for translation. It is a separate professional field. Translation involves three areas of expertise: - - - proficiency in two languages (linguistics for manipulating words across languages
- skill / knowledge in translation
- expertise in a particular subject area


Nowadays, a translator needs much more to make a decent living:

1) proficiency in two languages OK Comment: I opted to drop my second foreign language - German - as soon as I graduated from my institute (it is known as 'university' now), in order to focus on one language pair;

2) translation skills OK Comment: personally, I did have formal training in this area, yet one can acquire requisite skills through hands-on experience in a variety of settings;

3) subject matter expertise OK Comment: one should appreciate that some areas of expertise are just more promising and 'durable' money-wise, therefore it's always a good idea to consider carefully your next step when it comes to choosing a career path;

4) state-of-the-art technology, and never-ending search for ways to work faster, easier, and with more consistent results Comment: my 'mobile office' that I carry on me, or in an attache case or computer bag, includes:
- an iPhone 5 and an iPad Air, both loaded with lots of vital apps (e.g. Dragon Dictation, DocuSign, ABBYY BCR (business card recognition), Reminders, DocScanner, OmniFocus, Skype, Mail (catching mail from multiple accounts), Voice Memos, OneDrive, Dropbox, SugarSync, LinkedIn, Facebook, Office Mobile, etc.;
- a 4G router that can act as a WiFi hotspot providing unlimited Internet access for up to 5 devices at the speeds of up to 30Mbps for US$260 per year, if you purchase a 12-month subscription;
- a 256GB USB 3.0 Transcend stick holding my email archive dating back to 2002, setup files dor my licensed software products, etc.;
- a 512GB portable Thunderbolt SSD, to be used with
- my 15.4" MacBook Pro with Retina Display; and some other things;

5) a very good memory; inquisitive mind; willingness to learn; appreciation of the fact that time and effort invested into learning new things will pay off very handsomely.

[Edited at 2014-07-08 14:42 GMT]


 

Maria S. Loose, LL.M.  Identity Verified
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Sheila you are right about the quality of life Jul 11, 2014

I had you in mind when I wrote my post. I am thinking of moving house, go to Southern Europe and live happily ever after as a translator.

 

deleted. (X)
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translators' lifestyle Jul 11, 2014

When I'm not worried about finances, I do find working as a translator has all the benefits as mentioned in this thread. That's why after I left my previous employment a few months ago, I decide to give translation a go and see how things turn out, if it doesn't work out financially, at least I will be doing something I like.

I'm travelling in Europe at the moment (in Prague today), I wish I had included Spain and southern France in my itinerary, sounds like a paradise for translato
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When I'm not worried about finances, I do find working as a translator has all the benefits as mentioned in this thread. That's why after I left my previous employment a few months ago, I decide to give translation a go and see how things turn out, if it doesn't work out financially, at least I will be doing something I like.

I'm travelling in Europe at the moment (in Prague today), I wish I had included Spain and southern France in my itinerary, sounds like a paradise for translators.
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Michael Beijer  Identity Verified
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isn’t income ‘generated’ where the work is done? Jul 12, 2014

LegalWorks wrote:

Nicole Coesel wrote:

I do not know the legal system in your country, but I DO know that if I generate income from a foreign EMPLOYER, taxes must be paid on that income either in the employer's country or in my own. If my income is generated from a foreign CUSTOMER, I am, at all times, obligated to pay taxes in my country.

I do believe you need to further investigate the issue before you make assumptions that could cost you dearly.

That is why so many of us are freelancers with VAT numbers.


Best of luck.


Thank you Nicole,

If you live in the Netherlands, you must state your complete worldwide income in your tax return. Your income from abroad is also part of your worldwide income (for example income from employment or foreign property)

I live in Central America, and here things are very different. Government is not as social and taxes are low, plus income generated abroad is not subject to any tax

To the other poster, this is why I am looking into this. I could obviously still make more as a lawyer but independence and quality of life is very important to me.


Hi LegalWorks,

Please correct me if I am wrong (I have zero knowledge of the tax system in Panama and have only done a quick Google), but isn't it true that if you work in Panama as a freelance translator, for clients abroad, then your income is in fact generated in Panama, not abroad. Income is generated where the work is done, not where the money comes from to pay for the work. As Nicole said, you may want to look into this further.

As far as I can tell, as a resident of Panama, you don't have to pay any taxes on money you make while traveling abroad, but you do have to pay taxes on money made while sitting at your desk in your office in Panama.

Michael


 

Sheila Wilson  Identity Verified
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I can only agree with Michael and Nicole Jul 12, 2014

Michael Beijer wrote:
isn't it true that if you work in Panama as a freelance translator, for clients abroad, then your income is in fact generated in Panama, not abroad. Income is generated where the work is done, not where the money comes from to pay for the work. As Nicole said, you may want to look into this further.

I'm afraid you seem to have "employer" and "client" confused. As a self-employed, freelance translator, you WON'T be earning money abroad - you will be exporting your services to clients abroad. Your employer will be in Panama: YOU! Even if you never receive the money into your country but leave it in the ether (PayPal etc) or in a foreign bank account, in local or another currency, it's still income earned in Panama; or "from Panama" if that makes it clearer.

I'm no lawyer or accountant so I can't vouch for every detail of the above, but I am sure that's the way it works the world over, broadly speaking. It's a popular misconception when working internationally via the internet that either someone else will pay your taxes or they don't need to be paid.


 
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