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To Cash Gift or Not - That is the Question
The Final Choice Is Up To You
Do your homework
To Choose Cash Gifting, like anything else in life, you must first do your research to determine if this is something you want to take up. It is always prudent to check out the waters before jumping in head first. The simplicity of cash gifting does not require a lot of research, but there are a couple of areas that one should check out thoroughly before getting involved.
Define cash gifting
Cash gifting is the private or public act of giving to another a declared sum of cash and giving it freely without coercion or consideration. Cash gifting is not a loan or a payment for goods or services and does not need to be repaid. It is called cash gifting because that's exactly what it is... the action of giving a gift of cash. Cash Gifting Programs promote the gifting of cash
Determine the legality
There are two supporting areas here; that of the Constitution and the IRS tax code.
Constitutional right
Yes, Cash gifting is a legal activity. This is the first question most people ask when they start to see the potential of cash gifting. Both American and Canadian citizens have the Constitutional right to gift property, cash and other assets.
IRS Tax Code
The U.S. gifting rules are found in the IRS Tax Code, Title 26, Sections 2501-2504 and 2511. The law states that one or more individuals can give a gift to another individual of up to $12,000 each per calendar year without any tax liability to either the giver or receiver of the gift, because the tax on the gift has already been paid. These gifts are not included in the gross income of the recipient. The official IRS.gov website goes into great detail regarding tax free cash gifts. You can see what the IRS has to say about these programs by visiting: http://www.irs.gov/pub/irs-pdf/p950.pdf - Go ahead, see for yourself and dispel any uncertainties.
Review the variety of programs and their various differences
This will undoubtedly be the most time consuming part of your research, due in part to the number of active programs now on the internet as well as the number of people involved.
What is the programs primary focus?
This is question number one. After you understand just what a cash gifting program is, you then need to determine what each program considers their primary focus. If all they talk about is the money, turn around and run, don’t walk as fast as you can in another direction. If your chosen programs’ primary focus is not mentoring and support, you will find it very difficult to have any success with them. As with any new endeavor, if you are left out to sea with out a paddle, the ship may never make it back to shore. Your chosen program and mentor must first and foremost focus on support and be willing to share with you the information you need to make your activity grow and become the success you desire.
How does it work?
Each program is a little different than that of the other, but essentially they all share one common thread. That is; a one on one invitation to join the inviter and copy what they are doing. Thereby producing the same results. How each inviter is accomplishing their results can sometimes be a very guarded secret. But all programs will include basic information that is passed on down from one to another to be used as a kick off point. From there you can use the basics alone, or improve and add to the tool box to continue to build your own activity.
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Paula Attleson, the author, is a successful home-based Cash Gifting expert and Internet marketer. She has been helping people improve their promotional activities and financial situations since 2007. She believes this activity is a great way to help people solve their financial problems as well as increase their over all personal potential. If you have any questions or would like information on her Cash Gifting, email her at mygifttoyou247@gmail.com www.mygifttoyou247.comwww.givingtree4u.com
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