And now, what do I charge? (II)

Besides doing your math, and doing some research on what is usually offered for your specific niche, there is more math to be done – taxes and fees.

Are you aiming for local or international clients? If local, things are easier, you will be paid through wire transfer or check and no exchange rate is to be applied. But international clients (as far as my experience goes) tend to love Paypal. Let me tell you – their fees are quite something… If you fail to add that your rate, you will find yourself paying to be paid.



You also has to pay attention to exchange rates. Are you being paid in US dollars, but converting into Euro? Than you are making less money than actually stated in your rates. On the other hand, if your local currency is less valued than the currency of payment, you will be earning a bit more (not so much, don’t be so excited).

Also, take taxes into account. What can be deducted? How are you going to keep track of your payments? With Paypal, you can download the year history, which makes completing the Brazilian form much easier. You can also add Paypal fees to deduct as a cost (check your local rules for taxes). The same goes for your bank account. Are you planning to use an accounting service or do your taxes yourself? Remember that any expense you might have with getting paid must be shared with your client when you agree on a final rate.

Whenever payment is involved, you have to be an expert in Math (at least this basic plus/minus/times thing). Learn the tricks and define your lucky number. Then, be free to do what you like the most – translating!

  1. Fernando

    Great stuff Michele. Thanks for the tips.

    4 years ago

    Reply
    • Michele Santiago

      Hi Fernando, thanks for stopping by!
      Glad to know you liked it, I hope it’s useful.

      4 years ago

      Reply

Leave a Comment

Your email address will not be published. Required fields are marked *

Connect with Facebook