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Note: This is not professional tax advice. If you think you need professional tax advice, find a licensed professional in your local area. What are the expected earnings/year? US$100? US$1,000? US …

While HAMP Loan Modification has guidelines for principal reduction, it is not a reduction all the way down to the new market value. Investors owning your loan have to be willing to allow the princip …

As a US citizen I've had an Australian bank account when I was not living in Australia, and paid non-resident withholding taxes on it to Australia. Because tax was withheld at the source in Australi …

No danger. You can get in a car accident, break your leg skateboarding, or otherwise wind up in the hospital like anyone else. You can also get the money back, with a tax penalty, but you probably wi …

This is a tricky question, because the financial aid system can create odd incentives. Good schools tend to price themselves above and beyond any reasonable middle-class ability to save and then offe …

The recommendation is not to make the investment. In general, a company does not have to sell their shares to you or allow you to become an investor, because, as you have stated, it is a private comp …

Does your wife perform solo or in association with other actor/actresses and other volunteers? The latter arrangement sounds more like an unincorporated association or a partnership, which might be a …

@littleadv has good advice here. You most likely owe taxes to both countries, but the question is "how much?" I have this to add: IRS Publication 54 is about the US taxes of Americans living overse …

The short answer is that the exchange of the stock in exchange for the elimination of a debt is a taxable exchange, and gains or losses are possible for the stock investor as well as the bank. The …

Incoming is often free except from overseas... I've never found a bank offering free international wire transfers. Is this coming from a foreign country or another part of the USA? If it is from a …

Let's suppose they really are selling solar electric systems. Perhaps they are engaged in other kinds of fraud instead, in which case your ID and bill could be used to buy other expensive things on m …

If you are paid by foreigners then it is quite possible they don't file anything with the IRS. All of this income you are required to report as business income on schedule C. There are opportunities …

In my experience, the answer is a guarded yes. Keep in mind that you still owe the USA a tax return in order to claim the benefits of the various deductions and credits. There is also AMT, Alternat …

Generally, I would not worry about sending all of your own money to your own bank account in India. Sending your own money from the USA to an account you own in India is generally not a taxable event …

Western Union is one way to send emergency cash to a family member. It seems suspicious as a method of goods payment because many frauds have used it as a means of collecting irreversible payments. E …