WEBINAR TOPICS

3 Easy Ways to Take Charge of your Taxes as a Freelance Interpreter & Translator

1-hour workshop

DESCRIPTION

Do you feel unprepared for tax season this spring? Do you feel confused about deductions, quarterlies and handling multiple income sources? You're not alone! With interpreting being such a unique field, it can be difficult to find accurate tax guidance. In this workshop, participants will learn 3 practical strategies interpreters can use to get organized for this years taxes and make next tax season smoother. With an efficient process in place, interpreters can breathe easier knowing they're ready for tax season every year.

OBJECTIVES

  1. Participants will be able to indicate at least 2 differences between 1099 and W2 income

  2. Participants will be able to identify at least 8 business deductions

  3. Participants will learn how to save for and pay quarterly estimated taxes

How to Maximize Business and Personal Deductions for Anyone Filing Their Own Taxes

2-hour workshop 

DESCRIPTION

From TurboTax.com to FreeTaxUSA.com, there are a lot of options available to interpreters who want to file their own taxes. However, if you don’t have an understanding of business and personal deductions, many tax saving opportunities can easily fall through the cracks while self-filing. During this workshop participants will learn how to reduce their taxable income through maximizing both business and personal deductions when they file their own taxes. I will also show you where these deductions are reported on your 2021 tax return so you can double check it for accuracy before filing. And for those who are concerned about how much you might owe this year, I’ll explain how to easily calculate an estimate of your 2021 taxes to help you feel more prepared before you begin working on your taxes.

OBJECTIVES

  1. Participants will be able to list 8 business deductions and understand how to maximize their business phone, home office and auto expenses.

  2. Participants will be able to easily calculate an estimate of their 2021 tax liability

  3. Participants will be able to list 3 personal tax deductions that can reduce their taxable income

  4. Participants will be able to locate their business and personal deductions on their 2021 tax return to check for accuracy.

Unpacking the Decision to Become an LLC as a Freelance Interpreter

2-hour workshop

DESCRIPTION

This workshop will reveal the answers to the most common questions interpreters ask about LLCs, including: Do I need an LLC? How do I form an LLC? What is liability insurance? Does an LLC provide tax savings? What is an EIN? How are sole proprietorships and S Corps different? In addition, we will examine several real-life scenarios to help interpreters evaluate whether or not an LLC is right for them.

OBJECTIVES

  1. Participants will understand what an LLC is

  2. Participants will be able to indicate the difference between liability insurance and LLCs

  3. Participants will be able to describe the purpose of an EIN and a tradename (DBA)

  4. Participants will be able to identify the tax implications of sole proprietorships and S Corps

Tax Mistakes All Interpreters Need to Avoid

3-hour workshop 

DESCRIPTION

Being a freelance interpreter requires more than just interpreting. Focus is so heavily placed on language and skill that the business side of the profession often falls through the cracks. Through engaging content and hands-on activities, participants will learn how to avoid the most common tax mistakes that interpreters make. By becoming tax savvy freelancers, interpreters can transform their business practices and improve their current and future careers.

OBJECTIVES

  1. Participants will be able to calculate taxable income

  2. Participants will be able to indicate at least 3 differences between 1099 and W2 income

  3. Participants will be able to identify the difference between an LLC and Liability Insurance 

  4. Participants will be able to state at least 15 business tax deductions

  5. Participants will learn how to implement tax planning throughout the year by using a budget-based scheduling approach