What Is The Buzz About Cash Gifting?
Posted by Youcanworkthenet in Internet MarketingYou may have heard about the hottest craze that is sweeping the Internet today and it is called Cash Gifting! Although it’s been around before the Internet, it has now become the most sought after, money making program out there!
So what is it about? You can send a gift to anyone you wish (including cash) legally and up to $12K each, to any number of people, and none of these gifts will be taxable (according to the IRS tax codes last revision in 2007).
How can you tell if any of these programs are legal or not since they all claim that they are? Although they all seem to be ethical programs on the outside, claim to follow the law, you have to think about this! If it is really legal for anyone to gift someone else according to the tax codes, can I also expect it is legal to promote the same to others, to gift as well?
Not at all! Why? If you were going to send someone a gift for whatever reason, would you also ask these same people to send you a gift in return? I think not! Now I am no lawyer but here is how I read the law! Yes it is alright to send anyone you wish a gift, even money, however if you request that person to do the same, even if you are not asking or implying they send you anything back in return, you are still soliciting to get others to do the same!
This is considered a business transaction and it does not matter if a person signs a gifting disclaimer or a non-solicitation form, it is still illegal!
Another problem is this. I am sure you have seen on YouTube and on websites people opening countless number of overnight envelopes, pulling out a magazine that had an envelope stuff inside full of cash.
Each of these people would count hundreds of dollars in front of their video camera to prove that their gifting program does work! Well to be totally honest, they do work but here is the legal problem. Is it also legal to send cash in the mail or by FedEx or others? Not one bit! To prove this point, just read any of their Terms and Conditions with each carrier service and tell me what you find out?
Here are the Federal Express Terms and Conditions which state: Prohibited Items: You are prohibited from tendering the following items for shipment, and they will not be accepted: CASH, currency, collectible stamps and coins. So what does this mean? NO CASH - NO CURRENCY - Period!
There you have it, the law is the law! Why take a risk doing something illegal, getting caught or even prosecuted? If you are already in a cash gifting program and you are using any of the above mentioned illegal techniques, I would jump ship while you can, seek another that at least follows the law! Consider what knowledge cost, it is your best teacher.
If you would like to know more about Cash Gifting, vist my cash gifting blog!
