Insights Relating To The Most Controversial Issue: Is Cash Gifting Legal?
Today I've decided to tackle the controversial question in the home business field... Is cash gifting legal? It's definitely a fascinating subject matter, I think, so I've done some research and would like to share my findings with you.
Why did I intend to do this?
Ever since I got involved in the network marketing/home based business industry back in 2009, I've heard of cash gifting and observed the arguments between the 2 sides..."Yes, Cash Gifting is Legal" and "No Way is Cash Gifting Legal". There is never anyone sitting in the middle of this dispute! So who's right?
One of the primary reasons that I wanted to write on this subject matter is I get loads of daily traffic to my blog from an article I wrote on the Cash Tracking System. I also get several traffic to an article I wrote on a different popular cash gifting program referred to as The Peoples Program. This tells me that there are lots of people excited about the Cash Gifting activity as a potential income maker 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 called "Cash Leveraging") is the act of privately or publicly giving another person or entity a declared amount of cash, totally as a gift and giving it freely without coercion or consideration. It is certainly not a "quid-pro-quo" transaction where you give something of equal or considerable value in exchange for cash. That would be NOT be regarded as a true cash gift.
We know that, at least in the US people are permitted to "gift" as high as $13,000 per gift to anyone they want without tax consequences. Now, I'm not a lawyer or accountant however that tells me that cash gifting is legal.
The issue, and bad connotation, arises with cash gifting pyramids - these are typically matrix programs where people not at the TOP do not have a fair opportunity. These usually fizzle out leaving many out in the cold.
From my study, a "legal" cash gifting activity has a 1-Up compensation plan. This kind 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 obtain "gifts". The last person in can out earn the first person. This is the case with most top tier direct sales businesses as well. That's the way it ought to be in my opinion!
The biggest problem people have, when trying to determine is cash gifting legal or not, is the fact that there's absolutely 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. A few are top-tier direct sales programs costing $1000′;s for way overpriced products. What's better? Then, you have to overcome the objection of "I don't like your product". Having no merchandise has it's convenience:)
It's taken me a while to come around but I have. I'm here to let you know 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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