Here's a topic that trips up a lot of people: gift tax.

The United States has a gift tax: you will pay a tax for the privilege of giving your money away. There are plenty of exceptions, but let's stick to one typical scenario -- a gift by one family member (a parent) to another family member (a child).

Let's say a nonresident owns U.S. real estate. A vacation home, let's say. He's a father, and wants to give his property to his daughter. He signs a deed that says, "I, Father, transfer this property to Daughter."