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Insights Relating To The Most Controversial Subject: Is Cash Gifting Legal?
Today I've chose to address the controversial question in the home business field... Is cash gifting legal? It's really a fascinating subject, I think, so I've done some research and would like to share my findings with you.
Why did I choose to do this?
From the time I got involved in the network marketing/home based business industry way back in 2009, I've learned about cash gifting and seen the arguments between the 2 sides..."Yes, Cash Gifting is Legal" as well as "No Way is Cash Gifting Legal". There is never anyone sitting in the middle of this dispute! So who's right?
One of the biggest reasons that I desired to write about this subject is I get lots of daily traffic to my blog from an article I have written on the Cash Tracking System. I also get a few traffic to an article I wrote on a different popular cash gifting program called The Peoples Program. This shows me that there is many people interested in the Cash Gifting activity as a potential income source or, dare I say, business opportunity. So what's the deal?
Is Cash Gifting Legal?
To begin with, here's a description of the cash gifting activity... By definition Cash Gifting (also referred to as "Cash Leveraging") is the act of privately or publicly supplying someone or entity a declared amount of cash, purely as a gift and giving it freely without coercion or consideration. It surely is not a "quid-pro-quo" transaction where you give something of equal or considerable value in exchange for cash. That would be NOT be considered a real cash gift.
We comprehend that, at least in the US people are free to "gift" up to $13,000 per gift to anyone they want without tax consequences. Now, I'm not a lawyer or accountant yet that tells me that cash gifting is legal.
The issue, and bad connotation, arises with cash gifting pyramids - these are usually matrix programs where individuals not at the TOP do not have a fair chance. These generally fizzle out leaving many out in the cold.
From my research, a "legal" cash gifting activity has a 1-Up compensation plan. This sort of plan, besides being potentially very lucrative, is not pyramidal as the name indicates. It doesn't matter when you join. Everyone has the same opportunity to earn "gifts". The last person in can out earn the first person. This really is the case with most top tier direct sales firms as well. That's the way it really must be in my opinion!
The biggest issue people have, when trying to determine is cash gifting legal or not, is the fact that there's virtually no product. I don't see that as an issue at all. Let's face it, there are a lot of direct sales as well as network marketing businesses that just have some crappy eBooks or Digital products to "legalize" their program. Some are top-tier direct sales programs costing $1000′;s for way overpriced items. What's better? Then, you need to overcome the objection of "I don't like your product". Having no merchandise has it's advantage:)
It's taken me a while to come around but I have. I'm here to inform you that I have no doubt that cash gifting is legal. It's just another form of "program" that exists to aid people earn income with their own home business.
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