subject: Legal Cash Gifting Programs [print this page] Alright, so let me get this out right now from the get go, legal cash gifting programs do exist no matter how much some people will tell you that there is no such thing or that all gifting systems are illegal. You know these guys, the ones that are pushing some get-rich-program of their own.
Cash gifting has been around forever and will continue to be around long after you and I are gone. While there are some "bad apples" around, the cash gifting activity is ethical and legal. When looking for a program that you may want to join, you will want to remember that there are some bad programs out there, like with all online money making programs, and there are some great ones. What you need to do is to be able to decipher which is which.
An illegal gifting system usually does not have to do with cash gifting. Gifting is legal by just about everyone's definition, but there are things that you need to look at before joining and wasting your money. The criteria that you should probably examine the most is how a program is structured, how it is promoted and tax liability.
First of all, a lot of times that you hear or read someone tearing down cash gifting, they are not referring to gifting at all, but some pyramid structured organization that does not care if they are legal or not. Legal cash gifting programs do not follow a pyramid or ponzi type of scheme. If the system you are investigating starts talking about different levels in conjunction with recruiting others into the program, then you may want to be careful.
Second, any program that promises you a guaranteed income from gifting is not doing things correctly. I cannot guaranty any income whether it is from cash gifting or some other Internet money making system. The problem may not lie with the system itself, but with the inexperienced marketer...you. Anyone can be successful online...with the right training. Make sure you get a mentor that knows which way is up, that tip is free.
Third, much has been said about cash gifting being tax exempt. When people talk about taxes and gifting, they are referring to the IRS publication 950. This publication refers to individuals gifting to individuals. According to the IRS this activity is exempt up to $13,000 per year, per individual.
I am not about to give tax law advice, so I am going to tell you what I personally do. I pay taxes. I hate paying taxes especially when I am a bit concerned about how they are spent in D.C., but I pay them anyway. I'll do my best to throw the bums out as soon as I can, but as for me, I will pay my taxes.
There are many legal cash gifting programs on the Internet and finding them is not that hard, just keep the above tips in mind when searching and go from there.
by: Mark Graham
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