Great Income Tax Tips for US Translators!
Thread poster: LegalTranslatr2

LegalTranslatr2  Identity Verified
United States
Local time: 18:17
Portuguese to English
+ ...
Apr 11, 2008

This is great site offering tax tips for translators in the US written by a former H&R Block employee who prepared actual tax returns for freelance translators. The author provides a complete scenario involving the work of a fictitious translator (ex. Mary earns 55,000 and pays $15,000 in income tax without deductions and $10,000 with deductions). The articles originally appeared in the ATA Chronicle:

http://www.johnmatthews.us/Tax%20Tips%20for%20Translators.htm




[Edited at 2008-04-11 01:42]


 

Taylor Kirk  Identity Verified
United States
Local time: 17:17
Portuguese to English
+ ...
AWESOME Apr 11, 2008

Great resource!

 

Monika Coulson  Identity Verified
Local time: 16:17
Member (2001)
English to Albanian
+ ...
Thank you! Apr 11, 2008

Thanks, Jeff.

Much appreciated!!!!

Monika


 

texjax DDS PhD  Identity Verified
Local time: 18:17
Member (2006)
English to Italian
+ ...
Thank you! Apr 11, 2008

Thanks a lot Jeff!

Kind Regards from North Floridaicon_smile.gif


 

Lumpki03
United States
Income tax benefit on home loan Nov 1, 2018

Nice! I am planning to buy a house and therefore, it is important to have all information regarding

 

LegalTranslatr2  Identity Verified
United States
Local time: 18:17
Portuguese to English
+ ...
TOPIC STARTER
New tax laws for 2018 Nov 1, 2018

Since this zombie post was resurrected, I would like to warn the above poster that the tax laws have changed for 2018. Starting in 2018, everyone gets a straight 12,000 income tax deduction.

And for anyone else who may be reading this and may have panicked after viewing the new "postcard" size 1040 form: https://www.irs.gov/pub/irs-dft/f1040--dft.pdf

Don't worry, all the standard business deductions (health premiums, 1/2 of self-employment tax, etc.) are now reported on a separate form (tentatively called Schedule 1) and the total from that form is entered onto the 1040 form. Link to draft of schedule 1: https://www.irs.gov/pub/irs-dft/f1040s1--dft.pdf

So basically, they have just taken lines off the main form and made sepearate forms (6 of them) for everything and this is somehow more convenient.



[Edited at 2018-11-01 21:33 GMT]


 


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Great Income Tax Tips for US Translators!

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