A source of much debate and confusion is the concept of cash gifting. Many people don't have any idea what exactly cash gifting is, and those who do know what it is are concerned about its legality. Participating in such a program can open up many doors to its participants, but the first step is finding out what it is and how the program works. Most importantly, however, people looking to participate in a cash gifting program must find a plan that is safe, legitimate, and beneficial to its members.
What Is A "Gift" And How Do We Define It?
Cash giving is nothing new-it has been going on for hundreds of years. The difference is, now the concept has been transferred to the Internet. The Internet has allowed the programs to become more streamlined and connected. A cash giving program is a private group of individuals that allows them to give and receive cash and property from one another.
Cash gifting is somewhat controversial, because many people do not feel that it is legal. However, this is not true. Cash giving is based on the Constitutional right of individuals to give property, cash and other assets. In the United States, this process is regulated by Title 26 in the IRS Tax Code. This law states that one or more individuals can give a gift to another individual of up to $11,000 each per calendar year. There will be no tax liability to either the giver or receiver of the gift, and the gifts are not calculated into the gross income of the receiver.
Cash giving is perfectly legal, and the benefits it provides are endless!
How To "Gift" The Smart Way
There is no substitute for doing your homework when it comes to assessing the available Cash Gifting programs. However, it will become clear very early on in the process that there are certain features which are essential in any successful program. It is wise to be cautious, however, as there are some poorly designed and conceived programs which can fall into the category of a "Scam". Clearly, these need to be avoided at all costs. Selecting the right program for you should be a fairly straightforward process provided you ensure that your program of choice incorporates the following key features.
Any cash gifting program should be fairly flexible in how much participation it requires of you. For example, some of the more successful cash gifting programs might offer different levels of participation, in some cases entry level gifts could be a low as $100, rising to $10,000 per gift for the higher levels within the top programs. It is important that the different levels allow you to give cash gifts in amounts that you are comfortable with. Most people get into Gifting, initially, on a part-time basis, so it is very important that an individual is able to "work" the program and succeed with the minimum amount of effort and in the shortest time possible. In fact, the best programs will allow both full time and part time participation.
Many cash gifting programs are unsuccessful because their program depends on their members marketing and selling a product or service. The best cash gifting programs do not have this requirement. The core leadership of the group should be responsible "closing the deal".
One dead giveaway of a program that is not legitimate is one that is structured pyramid-style. Many corporate organizations with similar goals are structured in such a way that only allows those at the top to reap the benefits. A true cash gifting program will be structured in a way that allows all participants to benefit equally.
Those who try to undermine the beauty and selflessness of cash gifting programs do not understand the true nature of the group-it follows God's Law of Reciprocity. "Give and it shall be given unto you.