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#99841 - 06/09/08 04:09 PM
Working from overseas
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ernman5
New Member
Registered: 06/09/08
Posts: 4
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Hello everyone! Thanks to all the input I've read on the various threads here, I have narrowed my search for an MT school down to Andrews and M-TEC. I’ve taken and passed the entrance exam for both on my first try. My hesitation in starting the program now is merely due to the fact that I am currently enrolled in an on-line degree program at the Univ of Phoenix and I did not want to start a new unrelated program until I finished that one. I could not otherwise give the MT program of choice the time and attention it needs in order for me to finish fast and actually learn something and succeed, but I'll get there.
Here's what I am hoping to accomplish, and I was hoping for input and advice or warnings about my "grand plan" for being an MT from all of you who might have an opinion. I would like to be an IC from the start if possible, work from home (part-time to start if necessary in addition to my regular job), and eventually (2 years or so) relocate overseas.
My first question is, being a US citizen and (hopefully) an IC, would the company I work for care where I'm physically located? Do they have generally have any residency requirements in relation to where they are located? I'm hoping not, after all if one is working from home, does it really matter where home is? If they do care, due to regulatory issues or other concerns, what would those issues or concerns be? Is it possible to send and receive all the dictation and transcription results entirely on-line?
With all humility, here's what I think will be my assets in the MT field: My work experience is mostly in accounting, which of course involves highly detailed analysis and logical thinking. I also have a few years experience dealing with commercial and residential leases and related legal documents, so reading such dense and complicated documents in the worst language in the world (“legaleze”) does not intimidate me. I was also an optician and ophthalmic tech for 10 years and I am familiar with the related terminology. Is it possible to request a specialty such as ophthalmology right off the bat?
What is your opinion about my experience and skills and whether they will be an asset, or neutral, in the MT field? I should point out a couple of personal matters that may or may not be relevant. I am 47 years old, and I have no college education. However I’m a pretty smart guy if I do say so myself. I am a member of MENSA, for which I applied and tested really as a way to validate what I knew my intelligence to be even without a college degree, and as a way to dress up my resume in the absence of a degree. As far as my English skills are concerned, I think they are better than average. Way back (in the Carter administration) when I took the SAT, I earned what I was told was a perfect score in the Test of Standard Written English portion of the exam. I also recently tested for admission to a local community college and placed in 4th year English. Not bad, I think, for someone who has not been in a classroom for 30 years.
As far as expected income is concerned, I understand that I should temper my expectations initially. However, being located overseas (I’m thinking Philippines, or Mexico since I speak Spanish) my income requirements would be much lower than they would be in the US. I could live like a king (or at least a prince) on $2,000 per month. More would be better, of course. And I would not be the first American who chooses to retire overseas to get the most for my American dollars.
So, what do you think? Sorry for the long-winded initial post but I’m sure there is a lot of information available from the folks on this board and I was not able to find previous posts that dealt specifically with being physically located overseas. I did see some regarding out-sourcing overseas, but that is not the situation here. I would still be basically an American MT, working for an American company, with my home office outside the US. Please, any advice would be greatly appreciated, thanks.
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#99852 - 06/09/08 07:55 PM
Re: Working from overseas
[Re: ernman5]
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ArmyWifeMT
Junior Member
Registered: 01/21/08
Posts: 29
Loc: Wherever The Army Sends Us
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I have no advice for you as I am a student myself. I can tell you my own medical background and degree has been of some benefit, not as much as you might suspect though.
I am very much looking forward to hearing the replies because as a military spouse it is very likely our life will one day take us overseas.
_________________________
~Sarah~
Army wife, mom to four kids and a snake, MT student.
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#99924 - 06/10/08 01:44 PM
Re: Working from overseas
[Re: ernman5]
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HoosierFemme
Member
Registered: 09/28/05
Posts: 1132
Loc: Parisian suburbs, France
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Let me give you a little bit of background before attempting to answer some of your questions. My mother mentored me in family practice and orthopedics starting in 1998. From 1999 until 2002 I worked in-house at a cardiology clinic. Then I married and moved to France. I was devastated, thinking I would no longer be able be a transcriptionist. In September 2005, after a 3-year hiatus, I put my resume on MTjobs.com. Within a few days I got a reply from a QA person at the company from which I still subcontract. Then I decided I wanted to get a more thorough training in MT and hopefully open up more doors by being able to do more specialities and work types. I enrolled at M-TEC in December 2006 and am about to finish the course (  ). I would like to return to the States one day, but for now the plan is to stay here. It's my hope that M-TEC will be able to connect me with companies that hire folks who live overseas.
I ask the same questions you do--I'm American and am trained, so why does it matter where my hiney is parked? Well, for taxes and other issues, it does matter. Really only the company (perhaps other MTSOs could chime in here) could tell you why. It's frustrating, yes, to know that jobs are going to groups of non-American citizens and yet it's difficult to find a company that will hire one lowly American who happens to have a very far-flung zip code. 
I use the InScribe platform. I connect to it, download the voice files, transcribe them, and upload them directly to the client's server. For a brief time I contracted with a lady in Canada. She sent me audio files, which I transcribed using Express Scribe and into Word.
Generally you do whatever accounts the client/company gives you, but you can request certain specialities, especially if you have more experience or strength in that area. When I started with this company, I was put on cardiology and orthopedics accounts because that is where the bulk of my experience lay.
Working overseas, if you're able to find a company, you'll almost certainly be an IC. It stinks being paid in dollars right now! However, I love the flexibility of being an IC, especially with the time difference here.
Your experience in optometry will help, as will your attention to detail and analytical thinking. MT is NOT about "typing what you hear," and typing skills, even though typing is what gets the words on the paper, is actually a very small part of the job. Knowing your terminology counts way more than your typing speed. Your language skills must be above average, which yours seem to be by your post and given your background. You must be able to sit and focus for long periods of time, and excellent research skills are a must.
I hope that helps somewhat! 
_________________________
The French motto is "Liberté, Egalité, and Get Out of My Way." English author Stephen Clarke
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#99937 - 06/10/08 02:53 PM
Re: Working from overseas
[Re: HoosierFemme]
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14tonks
Member
Registered: 10/25/01
Posts: 6295
Loc: Only 3rd world country in US
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I ask the same questions you do--I'm American and am trained, so why does it matter where my hiney is parked? Well, for taxes and other issues, it does matter. Really only the company (perhaps other MTSOs could chime in here) could tell you why.
It comes down to government paperwork and pay delivery issues. It's one thing to set up an arrangement with a large company overseas or to open up a subsidiary there, and even then, those things are generally done by companies with a platoon of lawyers and financial advisers on tap to work out any legal/tax issues. The transcription company generally isn't going to be inclined to pay the platoon a second time to figure out what is involved with hiring one employee in France versus paying them to figure it out for 1000 in India or the Philippines, though.
It's another thing to go through all the hassle of figuring out what the tax situation is for an employee living in another country--do they owe taxes here, or taxes there, or both? If there or both, what paperwork are you obliged to provide the foreign government, if any? Do you still have to do withholding here even if there is no actual tax obligation here? Then there's the issue of just getting the money there. Wire transfers between banks are outrageously expensive, especially if one party or the other needs to do foreign currency exchange through an additional corresponding bank, and there are only certain areas of the world where cheaper and more convenient alternatives are in place--at least until the exchange rate does a roller coaster, and one side or the other of the arrangement is then guaranteed to be unhappy with either what they are paying or what they are being paid after conversion to foreign currency. You could just mail a check in US dollars, of course, but then your employee/IC may be very unhappy with both how long it takes to actually get her money and the size of the cut taken out of it for currency conversion and other bank fees.
In short, it's just a whole lot of headaches and extra work to hire a person overseas that you don't have to deal with or do if you hire someone who isn't. The issues are less in the case of an IC than an employee, but the IRS issues here are leading more and more companies to hire only employees. If you were the one hiring rather than looking to be hired, you might well think it was quite important what country your hiney was actually parked in.
ETA: India is one of the places where money transfer has been made easier. I can do a direct deposit to an account in an Indian bank in 1 minute online with no fees at all if the check is for more than $1000 US and a fee of just $3 to $9 for lesser amounts. Tax and currency import/export issues at the Indian end are taken care of by simply checking a box on the online form regarding the purpose of the funds transfer. Doing the same to a bank in France would require a personal trip to my bank and take at least an hour to complete the transaction; heaven knows what the tax or currency import/export issues might be--one would probably have to research that yourselves. This is part of the reason why someone hiring people in India may not want to hire an additional person in France--all countries are not the same even when it comes to hiring subcontractors. (The fact the person in France is not going to want to work for less than you could hire someone here for without all the headaches is also going to factor in--if there's the potential for a substantial line rate savings, the hassle of researching and setting things up with someone overseas may be worth it. Without that return for the time invested, why bother?)
Edited by 14tonks (06/10/08 03:04 PM)
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#99964 - 06/10/08 05:11 PM
Re: Working from overseas
[Re: 14tonks]
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HoosierFemme
Member
Registered: 09/28/05
Posts: 1132
Loc: Parisian suburbs, France
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Thanks, Tonks. I was hoping you would chime in on this one. That does clear a lot of things up and is a good reminder to me (you'd touched on this before, I believe). Oh, trust me, I know all about the wire transfer hassels. My client's bank switched to a different system in January, and it just would not work as far as paying me was concerned. Finally last month it was straightened out; though they were sure they had the right information, they sent in the wrong IBAN number the first several times. We split the fees, but my bank also charges me to do the currency exchange.
Oh, I realize I'd feel differently if it were me in the hiring seat, and I also believe my days could be numbered because of the hassle. As far as the tax stuff, I take care of that. Time to polish up on my speech to hubby about moving to the States! 
_________________________
The French motto is "Liberté, Egalité, and Get Out of My Way." English author Stephen Clarke
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#99976 - 06/10/08 06:41 PM
Re: Working from overseas
[Re: HoosierFemme]
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ernman5
New Member
Registered: 06/09/08
Posts: 4
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Thank you for your responses, it is very helpful to know that there are others with nearly the same issues and concerns. I was hoping to avoid all the tax issues by keeping my current US bank account and just having my employer make direct deposits, which would make it a US transaction as far as the IRS is concerned. I've used my ATM card in Mexico, Peru and the Philippines, although it comes out in the local currency. Another option would be for me to wire money to myself using Xoom on-line, in US dollars, only as needed and keep the rest in the bank until the exchange rates improve. I also know there is an exemption of I believe $80,000 for income earned overseas (no income taxes!) but I don't know if the arrangement I described disqualifies it as foreign income. So much to consider, but I think in the end it would be worth it. If there are any more suggestions or opinions, I'd love to hear them. Thanks again!
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#99982 - 06/10/08 07:47 PM
Re: Working from overseas
[Re: ernman5]
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14tonks
Member
Registered: 10/25/01
Posts: 6295
Loc: Only 3rd world country in US
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So much to consider, but I think in the end it would be worth it.
For you, it probably would be, but that means you need to either figure out how to get your own clients in order to avoid the middleman and deal with all the financial fancy footwork yourself, or you need to expect a long, hard search for an MTSO willing to take on disadvantages for her in order to provide advantages for you.
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#100025 - 06/11/08 11:23 AM
Re: Working from overseas
[Re: ernman5]
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DaisyDuke
Junior Member
Registered: 06/11/08
Posts: 57
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Well, you sound like a very articulate and worldly individual who wants to break into transcription without any high expectations other than wanting to work overseas. Many companies are outsourcing to the places you mentioned so why couldn't you some how connect to that sector of the business? Actually your question is one a lot of us are asking ourselves now as many Americans are choosing the expat route now for quite a few years and from the way things look, it's a very good idea. First of all, you would want to contact some big companies that hire people right out of transcription training and ask them outright what your plans are. My feeling is that down the road, there are going to be more people wanting to move out of the US due to high taxes just being the tip of the iceberg. Good luck to you. I think you can do it!
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#100038 - 06/11/08 12:32 PM
Re: Working from overseas
[Re: DaisyDuke]
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JustJ
Member
Registered: 09/24/04
Posts: 1234
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My feeling is that down the road, there are going to be more people wanting to move out of the US due to high taxes just being the tip of the iceberg.
Where are they going? Having lived in 4 different countries, and travelled to a few more, the tax rates here are low in comparison.
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#100056 - 06/11/08 04:18 PM
Re: Working from overseas
[Re: ernman5]
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RedSonya
Member
Registered: 03/27/99
Posts: 5592
Loc: Standish, CA, USA
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If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, you may qualify to exclude from income up to $85,700 of your foreign earnings. In addition, you can exclude or deduct certain foreign housing amounts.
That's from the IRS site.
My BIL and SIL lived and worked for several years on Kwajalein atoll in the south Pacific, working for both Raytheon and Boeing (American companies) on the missile defense project. I know that they were both exempt up to $80K (which has since increased as stated above), but SIL did have tax liability for anything over and above that (as an engineer, she made more $$).
Here are the questions/work sheet to determine if you are eligible for the exclusion.
We've also considered being retired expatriates, but it's just a thought. I have found some interesting websites dealing with the subject, though, like this one.
Good luck to you!
_________________________
Red A patriot must be ready to defend his country against his government.
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#100089 - 06/11/08 09:57 PM
Re: Working from overseas
[Re: RedSonya]
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ernman5
New Member
Registered: 06/09/08
Posts: 4
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RedSonya, thank you so much for that link, that's one expat site I had never heard of! I've been investigating others such as EscapeFromAmerica.com and InternationalLiving.com and they have a lot of good info, but this one seems to focus on Latin America, which is of interest to me. I've also been looking into the Philippines, they have a program designed to attract foreign expats and retirees similar to that offered by Panama but with a lower financial committment.
Regarding the IRS, what I'm trying to determine, assuming all foreign residency requirements are met, is whether the income earned abroad from an American company counts as "foreign earned income" and therefore exempt from income tax. I suspect it has to be earned from a foreign company, in which case my grand scheme to escape this budding theocracy is dead in the water. But I will keep looking, and thanks to everyone for the advice!
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#100100 - 06/12/08 12:40 AM
Re: Working from overseas
[Re: ernman5]
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Janice M.
Member
Registered: 06/24/99
Posts: 1370
Loc: Southern CA
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in which case my grand scheme to escape this budding theocracy is dead in the water. But I will keep looking, and thanks to everyone for the advice!
Why? There is still the advantage of living outside the country and paying US taxes on US income because the cost of living for many of the places you have mentioned are considerably less.
My plan is to live outside the country and continue to work. I have my own business, so working for someone else isn't a problem. My accounts know that I work whenever I am outside the country and this is not a problem. For me it is likely to be Mexico, but I would love it to be Belize. Unfortuntely Ambergris Caye, Belize is very expensive, much more than living in Southern California, so I lose the advantages that I am trying to gain. Living in Mexico on what I make in Southern California will have me living like a Queen. Would I hire someone to work outside the country? Probably not because you really have to be inventive to make sure that your work is done and returned no matter what. You have to deal with power outages, equipment failures, internet being spotty or ineffective. I have had to buy new equipment, begged businesses to let me access their internet and worked hours that were not to my liking. I don't think a sub would put in for someone else what it might take to make this work in a third world country.
Janice
Janice
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#100139 - 06/12/08 02:19 PM
Re: Working from overseas
[Re: Janice M.]
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ernman5
New Member
Registered: 06/09/08
Posts: 4
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Janice M., you're right, I pay taxes here so what's wrong with paying taxes there. The lower cost of living would be a bonus, and that's the financial advantage.
Looking further into the IRS website, I found this quote: "Where or how you are paid has no effect on the source of the income. For example, income you receive for work done in France is income from a foreign source even if the income is paid directly to your bank account in the United States and your employer is located in New York City."
http://www.irs.gov/businesses/small/international/article/0,,id=96811,00.html
This is exactly the scenario I envisioned. I think my plan is still alive and well, so long as this benefit is not closed by the feds. Thanks again to RedSonya for the heads up. And I don't really see any downside to the employer, as far as they know I would be an IC working from home, location is irrelevant. I hope.
I hope that anyone out there who actually does this would chime in with their experiences, it would be greatly appreciated.
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#100144 - 06/12/08 03:01 PM
Re: Working from overseas
[Re: ernman5]
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14tonks
Member
Registered: 10/25/01
Posts: 6295
Loc: Only 3rd world country in US
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Of course New York State would try to insist that you owed them income tax on pay from an employer located in New York City wherever you lived and wherever you did the work. 
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