I get asked all the time if cash gifting is legal. It seems that a lot of people think that if large amounts of cash are being exchanged then the program must be a scam. Let's get this out in the open right now. . . cash gifting is 100% legal.
Although the Tax Code in the United States can be confusing, it is clearly stated in IRS Tax Code Title 29 and Publication 950 that cash gifts up to $12,000 per person per calendar year are allowed. Of course larger gifts are allowed as well, but they are treated under different guidelines with different tax consequences and we won't address those here. Remember, this is The United States of America and it is our Constitutional right to give and receive freely.
I've also been asked about cash gifting being some type of pyramid scheme. Let me put this to rest very quickly. Absolutely none of the larger cash gifting systems that you will find on the internet are pyramid schemes. There is no “Head Honcho" at the top getting rich and any new participant can generate just as many gifts as anyone that has joined the system previously.
I know it's hard to believe what you see all the time on the internet. There is a ton of hype surrounding just about every program online whether it is cash gifting or a work from home opportunity. The honest truth is there are thousands of individuals that have joined cash gifting programs and literally changed their lives. Some individuals generate enough cash to take the vacation of their dreams while others have quit their jobs all together. Like anything else in life, you get out what you put in.
The idea of cash gifting is based on helping other people and cash gifting programs are filled with people just like you and me that have helped others and have been rewarded for it. Every individual in a cash gifting program has gifted to another person and almost always it has been a total stranger. These gifts are given freely with no expectations of a return or any goods or services. And yet, the universe has a strange way of rewarding those that help others.
I hope that answers the question of the legality of cash gifting.
Please visit my website if you would like more information on Cash Gifting and how it can help you change your life like it has changed mine.
John Stevenson holds an MBA in Finance from the Simon School of Business and has been in the Marketing field for over 10 years. For more information about cash gifting please visit:
Cash Gifting Changes Lives .