Random specific quesitons about getting started
Thread poster: Salithealbo
Oct 15, 2014

Hello everyone, I'm still on the stage of time investment (reading and gathering information) and I'm back with the following questions:

- I don't know a lot about trados. If I bought one while I have this PC, would I be able to use the Trados in a different PC i.e. can it be moved/sent to a different PC?
- I have been interpreting for many of my family members for a long while here in the U.S. Is that good to be put on my CV as a part of experience?
- It sounds like I won't be able to use my personal bank account and I am going to have to open a business account with a business name. Is this correct?
- I also wanted to know how often translators have to deal with VAT or if many of them do have to deal with it? Does it depend on our client's/agency's location or our own?

Thanks in advance.


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Jenn Mercer  Identity Verified
United States
Local time: 17:36
Member (2009)
French to English
A few answers and more questions Oct 15, 2014

1. You can move Trados from one computer to another, but the process is designed more for upgrading from one computer to another than having it work on multiple computers at the same time. Check the Trados forums here and on SDL's website for more info.

2. Are you intending to work as a translator or interpreter? There are some people who do both, but most lean towards one or the other. I am not an interpreter, but I would suspect that interpreting for family members does not belong on a CV any more than doing other work for family members would.

3. You will want to have a separate bank account for your business. Whether or not this needs to be an actual business account or if you will need to have it under a business name will vary wildly based on your local laws and how you are trying to market yourself.

4. VAT. If you are in the U.S., the answer to VAT questions is N/A. I believe (someone correct me) that the answer might be both, depending on you and your client's location if you are in the E.U.


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Thomas T. Frost  Identity Verified
Member (2014)
French to Danish
+ ...
Where are you? Oct 15, 2014

You say "here in the US", but according to your profile, you're in Albania. Questions about bank accounts are specific to the country and need to be sorted out with a local accountant.

Then you talk about VAT, but the US does not have VAT but sales tax. Of course, if you're in Albania, you need to sort that out with an accountant in Albania. If you sell from outside the EU to consumers in the EU, you could be required to collect and pay EU VAT. Also a question for your accountant. If you only have business customers in the EU, it doesn't matter.

Difficult to answer when it's ambiguous where you are.


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Triston Goodwin  Identity Verified
United States
Local time: 15:36
Spanish to English
+ ...
Howdy! Oct 15, 2014

You can transfer your trados license to a new computer, but you will need to deactivate it before you can reactivate it on the new computer.

I'm not sure if I would mention doing work for family, but you could state the fields that you were interpreting for (medical or what ever the case may be).

You can use a personal bank account. I opened a business account, but needed all my papers from when I registered my business. I like it for tax reasons.

I've never had to deal with VAT being a US based translator. I just have to pay local taxes. When in doubt, hire an accountant.


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Łukasz Gos-Furmankiewicz  Identity Verified
Poland
Local time: 23:36
English to Polish
+ ...
... Oct 15, 2014

Salithealbo wrote:

- I don't know a lot about trados. If I bought one while I have this PC, would I be able to use the Trados in a different PC i.e. can it be moved/sent to a different PC?


You've got your answer from posters before me, but it's also worth mentioning that SDL offers a two-workstation licence for a very small surcharge. Having Trados on two PCs (e.g. one laptop) can be very convenient).

You may be entitled to a discount if you're a student. So perhaps if you're planning to take any relevant university course in the closest future it could be a good idea to make the timing coincide with your purchase of a Trados licence to cut the costs. (Sorry, SDL!)

I have been interpreting for many of my family members for a long while here in the U.S. Is that good to be put on my CV as a part of experience?


Yes, the question is not 'if' but 'how'. Make it some of 'previous non-professional interpreting experience'. Ain't it soundin' like a proper asset now like this?

- It sounds like I won't be able to use my personal bank account and I am going to have to open a business account with a business name. Is this correct?


You don't want to use your private account for business purposes anyway.

- I also wanted to know how often translators have to deal with VAT or if many of them do have to deal with it? Does it depend on our client's/agency's location or our own?


Find the nearest accountant to your place and ask, you'll be safer than asking here.

Depending on the applicable laws in your jurisdiction you may be able to qualify for a VAT exemption, but whether it will be in your best interest to take that path is a whole different matter. Not all clients particularly enjoy working with VAT-exempt solopreneurs. On the other hand, one or two clients who are slightly inconvenienced is better than taking a 20% income hit or something like that on all of your business. It all depends on your local laws and your client mix.

You'll need that accountant. Go find one first thing you do before your even file business registration. At least get properly advised and instructed before you start even if you don't think you need one for your monthly settlements. But you'll probably need accounting advice on dealing with your future clients from overseas, so you'd best have a modest plan in place that enables you to get free advice from time to time and have all your paperwork double-checked by a pro.


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Salithealbo
TOPIC STARTER
Thanks everyone; here's more information Oct 16, 2014

I am in the U.S. and have lived here for 12 years. I plan to work as a freelance translator back and forth both in the U.S. and Albania (50-50) so I'm still trying to decide whether I should use my U.S. bank account or open a bank account in Albania. I apologize for not having all of this information on my profile, but I was new to the forums when I registered and have never edited or added anything since.

The information provided here so far was very helpful for me and it did get me a couple of steps ahead.
Thanks again.


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Salithealbo
TOPIC STARTER
Even if...? Oct 16, 2014

Łukasz Gos-Furmankiewicz wrote:

Salithealbo wrote:

- It sounds like I won't be able to use my personal bank account and I am going to have to open a business account with a business name. Is this correct?


You don't want to use your private account for business purposes anyway.

I took all the rest of the advice given to me about this (and I appreciate it), but yours made me wonder. A bank account is something I'm not too familiar with, either. 90% of the reason that I opened this (my first ever) bank account was for the purpose of using it for my translation business and I never really use it for any other purposes at all. Do you still think it's a bad idea to use it even in this case?

I do have an accountant, though, as we run a different business and I will discuss all of this with him.

Thank you.


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Christine Andersen  Identity Verified
Denmark
Local time: 23:36
Member (2003)
Danish to English
+ ...
Bank accounts depend on the country... and the currency Oct 16, 2014

I move between the UK and Denmark, and have a bank account in each country.

This means I save on currency conversion and bank charges, as I have clients in the UK who prefer to use my account there and pay in GBP, while others prefer to pay into my Danish account and the currency is usually Danish Kroner or Euro. Most of the time I have the currency I need in the country I need it, without conversion charges.

Even then, I only invoice some clients once a quarter, to save on bank charges.

Talk to your accountant and bank about it, because wire transfers are the easiest and most sensible way of transferring money in a lot of Europe, but apparently not in the USA. You will find find that bank charges and currency conversion will eat up smaller fees, and while some of it is inevitable, you need to organise yourself to minimise it!

Clients should pay bank charges on top of your fee, but it doesn't always work 100%.

Anyway, check your own situation and good luck!


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