Cash Gifting legal or illegal

Cash Gifting

Is Cash Gifting legal?

There are many articles on the internet regarding Cash Gifting or Cash Leveraging, some say it’s illegal, and some say it legal.

There are also different laws in different countries and in some countries even in different states, is it easier to break the law if you do not live in that country and just access it by the internet?

What is Cash Gifting?

There is nothing illegal about giving a gift of cash. Everyone receives gifts of cash throughout the year, christenings, birthdays, weddings, inheritance, Christmas, and other special occasions. Cash gifting is the act of giving a cash gift.

Tax laws differ all around the world on exactly how much can be given as a gift over a certain period of time.

Now you can run an online business or be involved with a Cash Gifting scheme anywhere in the world, just fill an online form in and press “enter”. What happens if you are in America and recruit customers in the United Kingdom, there is no global law, are you breaking the law in either country, none or both?

Cash Gifting or Cash Leveraging is on the increase, different types of people from all types of backgrounds have become involved directly or indirectly through the internet with Cash Gifting schemes.

It’s amazing how many Cash Gifting schemes there are at the present, if you Google Cash Gifting or Cash Leveraging at the time of writing there are 1,300,000 results, by the time you read this there will most probably be a lot more.

Usually in the small print it will state that “members consider their payments as a gift and may expect nothing in return”.

Why are people attracted to Cash Gifting?

The adverts are mixed in with other types of business opportunities, you are promised large sums of money for little or no work and all you need is a phone and an internet connection and you’re away. As the global economy has taken a turn for the worse and online business opportunities are on the increase Cash Gifting may sound more attractive than an established MLM, affiliate or networking opportunity and it is marketed in such a way that it will solve all your financial worries quickly.

The keys points used are

No Products
No talking to anyone
No stock
No selling

There are different types of Cash Gifting

Gifting clubs, similar to a pyramid scheme. It is alright if you are in it at the beginning, but after a while it will burn itself out.

1up Compensation Plans, similar to other successful direct sales business marketing. Your sponsor gets your first sale and you get your first sale’s first sale.

Finally

Cash Gifting is something that I would not personally get involved in, it’s not long term and knowing that it might be illegal and that somewhere someone has to lose out.

Some Cash Gifting or Cash Leveraging schemes have been nicknamed "Ponzi Schemes" after Charles Ponzi who used a "rob Peter to pay Paul" scam and was convicted in 1920.

Putting it in its simplest form, if 10 people joined a Cash Gifting scheme and all paid 100 units of currency there would be 1,000 units of currency in the kitty. If no further outside cash is going in the kitty and you receive 100 units back then you have not lost anything, anything more than 100 and you have gained and someone else has lost and if you receive less then you have lost and someone else had gained.

This is a big market with many people already involved.

If you have been in a Cash Gifting scheme or still are we welcome your comments……….

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Comments:

Cash gifting in the US is legal. You can give up to $12,000 per year to one person without the receiver having to pay tax on it.

The USPS doesn't condone sending cash through the mail. Their view on such "programs" is that a person should receive a tangible product or service for a payment. By doing this, it is now a business and payments received are income and taxable as such.

A pure cash gifting program unites those wishing to give with those wishing to receive. There are many individuals and companies that need to dispense funds. As long as individuals understand that cash gifts won't automatically appear on their doorstep without appropriately finding cash-gifters, this is no different than any other money-making program. Recruiting takes work and time. One cash gift can be better than 25 PTC or PTR with 100 downline members. Herein lies the appeal.

One such program I like is Residual Cash Forever. A cash gift is split between the direct sponsor and their sponsor. A person doesn't have to send additional gifts to obtain higher levels, it's done automatically when a higher cash gift is sent to them. There is no 1-up either. And yes you get to talk to real people.

Thank you,

Irene Nevins

Cash Gifter

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