If you do a freelance gig for Europe (and you live in the US),
1- is it better to be paid in dollars (despite the conversion fees) or in EUR and then convert the money into dollars myself? And...
2- do I have to pay taxes on that in the US even if it’s a small amount?

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1. Get paid in dollars. They should pay the conversion fee, not you. Otherwise you’re gambling on the changing value of a currency.

2. If you’re a US Citizen or permanent resident, you have to declare all worldwide income to the IRS, no matter how small. That’s a unique quirk of the US.

The good news is you don’t have to declare it to the govt of the European country you’re doing the work for, unless you’re physically there.

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