Money matters Thread poster: mszlilian
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mszlilian 
Hungary
Local time: 11:19
Polish to Hungarian
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What is the best payment method via ProzCom and what is the procedure ?
How to avoid to pay a lot of taxes to the state?
| | | | David Wright
Austria
Local time: 11:19
German to English
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| Is there apayment method via ProzCom? | Feb 25, 2011 |
I've never used one; I always pay by bank transfer, and as a member of the EU Hungary is also required to ensure that its banks do not charge more for transfers within the EU than for domestic transfers. Outside the EU is a different matter, though again I suspect bank transfers are the best.
How to avoid paying tax? Earn less! Make sure you keep a record of what you spend for business purposes? Make full use of any tax allowances for investments that the state allows you. Tax evasi... See more I've never used one; I always pay by bank transfer, and as a member of the EU Hungary is also required to ensure that its banks do not charge more for transfers within the EU than for domestic transfers. Outside the EU is a different matter, though again I suspect bank transfers are the best.
How to avoid paying tax? Earn less! Make sure you keep a record of what you spend for business purposes? Make full use of any tax allowances for investments that the state allows you. Tax evasion is however illegal and immoral (you shift your responsibilities to society onto others). ▲ Collapse
| | | | Tim Drayton
Cyprus
Local time: 12:19
Turkish to English
+ ...
| There is no Proz payment system | Feb 25, 2011 |
Proz is a translators' portal not a banking system.
| | | | Samuel Murray
Netherlands
Local time: 11:19
Member (2006)
English to Afrikaans
+ ...
mszlilian wrote:
What is the best payment method via ProzCom and what is the procedure? How to avoid to pay a lot of taxes to the state?
ProZ.com itself has no system for transferring money from clients to translators. You would have to use the variety of international systems that are available anywhere, based on where you are and where your client is.
A wiki article about how EU tranlsators can limit the amount of tax they need to pay, can be useful (I don't think there is currently such a page). It would differ from country to country, though -- what applies to Hungary may not apply to its neighbouring countries.
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Tom in London
United Kingdom
Local time: 10:19
Member (2008)
Italian to English
Samuel Murray wrote:
ProZ.com itself has no system for transferring money from clients to translators.
.. although I have on various occasions suggested that this might the next big step for Proz.com: to institute its own payment system, at better rates and conditions than the currently existing systems, and only for members. It might be called "ProzPay".
However I realise this would be a very big and complicated thing to do, unless it was piggybacked on PayPal or one of the other existing systems - and that, of course, would defeat its purpose.
[Edited at 2011-02-25 11:02 GMT]
| | | | Tom in London
United Kingdom
Local time: 10:19
Member (2008)
Italian to English
| How about this? | Feb 25, 2011 |
mszlilian wrote:
How to avoid to pay a lot of taxes to the state?
The only honest way is to get a good accountant who will advise you on what you need to pay and what you don't need to pay.
| | | | mszlilian
Hungary
Local time: 11:19
Polish to Hungarian
+ ...
TOPIC STARTER
Sorry, you did not get what I meant. I enquired about the best practices you follow not about the tax evasion !!! I have been a member for just a few days and was interested what you use , Paypal or Moneybookers, etc ( In some countries the earnings are low and the taxes are high , so we have to take into consideration that factor,as well... )
Lilian
David Wright wrote:
I've never used one; I always pay by bank transfer, and as a member of the EU Hungary is also required to ensure that its banks do not charge more for transfers within the EU than for domestic transfers. Outside the EU is a different matter, though again I suspect bank transfers are the best.
How to avoid paying tax? Earn less! Make sure you keep a record of what you spend for business purposes? Make full use of any tax allowances for investments that the state allows you. Tax evasion is however illegal and immoral (you shift your responsibilities to society onto others).
| | | | Samuel Murray
Netherlands
Local time: 11:19
Member (2006)
English to Afrikaans
+ ...
mszlilian wrote:
I enquired about the best practices you follow not about the tax evasion!
That is what I understood, yes. Tax evasion is not the same as tax avoidance. Tax avoidance is good... and unfortunately it will take quite a bit of reading to figure out how to do it best.
I had hoped that my accountant would be able to advise me on that, but he does not regard it as part of his required services to tell me how to pay less tax, so I myself would have to read up on that and ask local colleagues for advice.
I ... was interested what you use, Paypal or Moneybookers, etc.
For a start, sign up with both PayPal and Moneybookers. Also, find out what your local bank needs (and what it would cost) if you wanted to cash an American cheque (you may have to open a second account at a different bank).
In some countries the earnings are low and the taxes are high, so we have to take into consideration that factor,as well...
Find out how your country's VAT laws work. In my current country, I pay VAT for jobs done to non-businesses outside the EU, so it makes sense for me to limit the number of those jobs and rather focus on jobs for businesses outside the EU. Your country's laws may be different.
David Wright wrote:
How to avoid paying tax? Earn less! Make sure you keep a record of what you spend for business purposes? Make full use of any tax allowances for investments that the state allows you.
Very good advice: earn less (i.e. choose your expenses wisely, so that the maximum amount of it can be deducted from your income before tax).
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Tom in London
United Kingdom
Local time: 10:19
Member (2008)
Italian to English
mszlilian wrote:
Sorry, you did not get what I meant.... was interested what you use , Paypal or Moneybookers, etc
Following my experience with Paypal and Moneybookers I eventually realised that both of them deduct not a fixed amount for each transaction, but a percentage. I find that unfair.
Also, I saw a discussion here about how PayPal can suddenly block your account, and require a nightmare of bureaucracy to get it back again.
So now, I just use international bank transfer. There is a cost, but it's very small and is always the same, no matter what the amount is.
[Edited at 2011-02-25 12:53 GMT]
| | | | Samuel Murray
Netherlands
Local time: 11:19
Member (2006)
English to Afrikaans
+ ...
Tom in London wrote:
Following my experience with Paypal and Moneybookers I eventually realised that both of them deduct not a fixed amount for each transaction, but a percentage. I find that unfair.
Most money transfer systems work on a percentage basis (either purely percentage or a combination of percentage and fixed rate). Even international bank transfers use a combination. Percentage systems may seem unfair if you work with large amounts, but on the other hand, the fixed-rate system is unfair for smaller amounts (for both sender and recipient of the money).
Also, I saw a discussion here about how PayPal can suddenly block your account, and require a nightmare of bureaucracy to get it back again.
That is part of dealing with online payment systems, unfortunately. The important thing is to be ready for when that happens. For example: Don't use credentials that differ from that which is written on e.g. your bank statement, so that you can prove your bank details without having to explain to PayPal why your addres with PayPal differs from the one on your bank statement. And register using the same name as you are registered at the bank and that is written on your ID card or credit card (or be ready to explain why it isn't so).
I wish that one could have verified one's details with PayPal upfront, but unfortuntely you have to wait until you get a big payment, then wait for them to remove the block while they examine your submitted credentials.
Every translator using PayPal or Moneybookers will eventually find their accounts blocked for a week or two, because of the amounts being transferred. It is part of the deal. The sooner you exceed the transfer limit, the sooner PayPal will ask for extra proof of identification, and the sooner you can have one less thing to worry about when they unblock your account.
So now, I just use international bank transfer. There is a cost, but it's very small and is always the same, no matter what the amount is.
The cost may be big or small, depending on where you are. At my previous bank, the sender had to pay EUR 15.00 per transaction, and the recipient paid EUR 10.00 per transaction, regardless of the amount of money being transferred. EUR 25.00 per transaction is cheap only if you transfer hundreds upon hundreds of euros per transaction.
| | | | Attila Piróth
France
Local time: 11:19
Member
English to Hungarian
+ ...
| PayPal mass payment option | Feb 25, 2011 |
Tom in London wrote:
Following my experience with Paypal and Moneybookers I eventually realised that both of them deduct not a fixed amount for each transaction, but a percentage. I find that unfair.
Hi Tom,
PayPal offers several payment options. The instantaneous payment you refer to is just one; echeck and especially mass payment are other, much more cost-effective ways. For the latter
... [as a sender] you pay just 2% of the payment amount, capped at $1 per payment. Your recipient pays nothing to receive your payment, so they always get the full amount.
Best,
Attila
| | | | David Wright
Austria
Local time: 11:19
German to English
+ ...
| Bank transfer | Feb 25, 2011 |
I still maintain that the best way for a Hungarian resident to make payments at least within the is to use bank transfer (wire transfer I think it is sometimes referred to). It should cost the same as a domestic transfer (and if it doesn't play merry hell with your bank since this is an EU regulation), and in my experience is effected within a couple of hours (Austria - UK, Austria - Hungary, Germany - Austria, France - Austria). With online banking you can do everything from your desk and don't... See more I still maintain that the best way for a Hungarian resident to make payments at least within the is to use bank transfer (wire transfer I think it is sometimes referred to). It should cost the same as a domestic transfer (and if it doesn't play merry hell with your bank since this is an EU regulation), and in my experience is effected within a couple of hours (Austria - UK, Austria - Hungary, Germany - Austria, France - Austria). With online banking you can do everything from your desk and don't have to go and talk to the people at the bank whose only interest is selling you a pension scheme you don't want and can't afford! ▲ Collapse
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| ProZ quote in Euro, bug? | Feb 26, 2011 |
quote in euros via Proz
hello,
this question is not fully related to the topic, but for me the "Proz quote form" doesn't work if it is not in US$.
Example, when I enter Euro 0.09, I preview or send a US$0.09 !!!!
result: either I loose a lot of money, or I put my Euro rate in the text of my quote, which goes directly to the trash.
I informed Proz support of the problem with screen captures, but they ignore the problem. The... See more quote in euros via Proz
hello,
this question is not fully related to the topic, but for me the "Proz quote form" doesn't work if it is not in US$.
Example, when I enter Euro 0.09, I preview or send a US$0.09 !!!!
result: either I loose a lot of money, or I put my Euro rate in the text of my quote, which goes directly to the trash.
I informed Proz support of the problem with screen captures, but they ignore the problem. They seem not to understand that for me for a Euro 0.09 rate I shouldn't find $O.O9 in the generated quote, but either 0.09 Euro (prefered) or US$ 0.124 that is to say after conversion into US$.
Did anybody meet the same problem? context: PC XP, Firefox / Chrome.
Thank you - Marie
[Edited at 2011-02-26 11:28 GMT] ▲ Collapse
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