Today I've decided to tackle the controversial question in the home business field... Is cash gifting legal? It's really an intriguing subject, I think, so I've done some research and would like to share my findings with you.
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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 seen the debates 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?
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One of the primary reasons that I wanted to write on this subject matter is I get a lot of daily traffic to my blog from an article I published on the Cash Tracking System. I also get a few 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 interested in the Cash Gifting activity as a probable 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 called "Cash Leveraging") is the act of privately or publicly giving another person or entity a declared amount of cash, strictly as a gift and giving it generously 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 regarded as a true cash gift.
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We know that, at least in the US people are permitted to "gift" up to $13,000 per gift to anyone they want without tax repercussions. Now, I'm not a lawyer or accountant yet that tells me that cash gifting is legal.
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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 research, a "legal" cash gifting activity possesses 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 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!
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The biggest issue people have, when trying to find out 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. 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 advantage:)
It's taken me a while to come around yet 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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