If I send money to someone on student visa in USA, will he need to pay taxes on that?
If I sell a website and send the money directly (from buyer, who is also located in USA) to a friend in USA who is on student VISA there, will he need to pay taxes on that amount? Is it legal for his VISA status? I want this so I can use that money when I go there and can avoid the currency conversion charges and avoid hassles.
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First: I am not a tax lawyer. This is just an educated opinion; not a legally verified answer.
Taxes are to be paid on income, not on money that you handle for someone. So if the idea is only that he gets and holds the money for you until a later point in time, there should be no tax liability.
If the amount is high enough to raise a flag in the bank so the IRS might look at it, and he wants to be sure to not get in trouble, he should keep it separate, and keep a record of 'handing it to you'. Note that if he makes interest on it, or uses it to pay his credit down until you come or such, the situation changes.
If i am not wrong, any business activities such should be declared on Year End Tax filing. If your friend is going to own that website either it is commercial or nonprofit, he has to declare in the year end taxation.
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