I would like to send money to my family back home to help them purchase home. And I have a few questions to this regard:
- Is there a limit on how much I can send? Can I send $100K plus?
- What is the most appropriate way to send money - international wire? Is there international-wire limit restrictions I need to be aware of?
- Is there any tax obligation should I be aware of when sending money home?
- If my family can return my money back in future, great, if not I really don't care, but when (if) I get my money back, will I have to pay taxes on bringing my own money back into US?
- Is there anything else do I need to be aware of?
fyi, my family isn't US citizens.