need help with umbrella tree (I think?)

[Nesmani]

sorry for the title.. I think what I have is an umbrella tree
my old neighbor gave it to me. I have had it for about a year and it hasn't changed at all. only difference is new growth this summer.
https://farm4.static.flickr.com/3503/3757327536_4260f7fa80.jpg?v=0

before it was only indoors and the "pot" it was in had no drainage holes. I put it outside and it rained alot so it was filling with water. plus the wind kept tipping it over. I recently bought a new pot.
https://farm3.static.flickr.com/2542/3757330308_4fdd845d2a.jpg?v=0

the root system was very small. also it doesn't look like any umbrella trees that I have seen online. one side looks very yellow with no new growth. the other side looks great.
https://farm4.static.flickr.com/3490/3757332664_0bafd49c85.jpg?v=0
https://farm4.static.flickr.com/3420/3757334596_06485980ec.jpg?v=0
https://farm3.static.flickr.com/2465/3756537517_21c526a78d.jpg?v=0

this is the condition it was in when I received it. it looks like it may have been cut back? also on the yellow side, below the leaves looks like growth? (bottom right of picture) it hasn't changed much. would it be bad to cut below where it has already been cut?
https://farm3.static.flickr.com/2547/3756539381_128286dd83.jpg?v=0

I am so confused as to what I can do with this. I want it to look fuller at the bottom and more even on top.
does anybody have any sugggestions? what can I and can't I do to help this tree? oh, and is it an umbrella? if so, what kind?

[bonsaiboy]

It is indeed an Umbrella Tree. I would recommend repotting it into a well draining soil with drainage holes if that hasn't already been done. And, yes, it is okay to cut it as far down as you want, as it will likely grow back if it's healthy.

[Nesmani]

thanx! I did repot it into the blue with drainage. it did much better. after that was when I noticed the new growth.

I was thinking of cutting it in this area:
https://farm3.static.flickr.com/2605/3759859254_1fceed4a40.jpg?v=0

since it looks like there is growth underneath that. would you reccomend any higher or lower than that?
funny, when I received it one side was so flat it looked like it was up against a wall for a couple years. I made sure to face that toward the sun to even it out. but the yellow side was so stretched out, I wanted to make sure what it was before I attempted anything.

um... I've never cut anything that thick before. is there a certain way? do I cut at an angle or straight across? also, do I have to be careful not to crush it? and do I need to put anything on the cut to prevent dieback?
I appreciate your reply

[bonsaiboy]

If I were you I would cut it back to the branches that are growing out further down the stem (the new growth). Cut strait across with a pair of very sharp scissors or pruners about 2-3 mm above the branch. This is all that needs to be done.