Do You Think Cash Gifting Is Legit?

348 followers

11 years ago

I'm sure in your journey to make money on the internet, you've come across many cash gifting programs. Videos of people opening up a Fedex or UPS envelope stuffed with hundred dollar bills. You think wouldn't that be exciting to receive cash to my doorstep a few times a week. It's very tempting to want to join, but it is really legal to do this?

Cash gifting in itself is legal. Anyone can gift another individual up to $12000 per year without the recipient having to pay taxes on the gift and without the giver expecting anything in return.

The problem with cash gifting programs is that when you gift someone, you are expecting to receive a gift in return. Not from the giver, but from a future recruit. That's the whole reason you got into the program to begin with, isn't it? (1st red flag)

Second, you have to run this like a business. You either advertise or send out postcards pointing your potential recruit to a website.

In a business, in exchange for a product or service, monies need to be exchanged. (2nd red flag) Your not getting a product or service in any gifting program in exchange for your hard earned cash.

Thirdly, just because you may have received cash in any of these programs, doesn't mean you don't have to pay taxes. Uncle Sam is gonna want his share. If you try to hide it, a jail cell could be in your future.

In conclusion, cash gifting is just another shiny object that can seperate you from your hard earned money.

Wealthy Affiliate is the sunglasses to help you see clearly!