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Article Title: The Whole Truth About Cash Gifting And Its Legality
Author: Bill Morin
Category: Home Business
Word Count: 455
Keywords: cash gifting,home business opportunity,make money
Author's Email Address: [email protected]
Article Source: http://www.articlemarketer.com
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There is a substantial amount of information on the Internet about cash
gifting. You can find plenty of videos about the benefits of cash gifting on
video sharing websites. The blogosphere is full of contradictory information
about cash gifting. Some say that it is an illegal scheme and should be banned;
while others proclaim it as a once-in-a-lifetime opportunity to become a
millionaire in a matter of days.
Also, some people portray it as the newest avatar of the money chain
scheme, just like Ponzi schemes and multi-level marketing schemes where a few
people gain something, while a large majority of people lose money. This
argument is countered by many other people who claim that cash gifting is a
unique home-based business opportunity. The truth about this concept is buried
somewhere in the cyber world amidst all the allegations and counter allegations.
For a better idea about cash gifting, let us take each point mentioned
above. Is cash gifting an illegal scheme? The answer is an emphatic NO. In the
United States, the Internal Revenue Service (IRS) guidelines have provided an
option for money transactions through cash gifting. One can provide an annual
amount up to $12000 to another person as a cash gift. This amount will not be
taxable. For more details about this, one can refer to IRS Publication 950 and
Tax Code Title 29. The next question is whether this opportunity will provide a
chance to become an overnight millionaire. Again the answer is no. You have to
work on marketing the opportunity. You have to enroll other people into the
opportunity to receive money.
Is it an illegal scheme? Again no. Ponzi schemes and money chain networks
have been declared illegal by law. Since cash gifting is an approved procedure
by IRS, there is little chance of legal troubles. Is it a home-based business
opportunity? For a change, yes, it is. You don't have to hire or buy expensive
office infrastructure and all. You can conduct the business entirely through
the internet, publications or mail. The best part about it is that there is no
selling, no chasing family members, no products, no collections, no boss and no
commute.
In short, cash gifting is just like any other business opportunity. You
have to make an initial small investment. Then if you work at it and get
results, you can build a steady source of income for life. If you work hard
enough, you can and will become a millionaire. The secret is to join a cash
gifting program that offers all of the tools, resources and mentorship needed
to succeed.
Want To Join An Award Winning Cash Gifting Program That Provides Every Tool And
Resource Needed For Success? Bill Morin reveals exactly how to do it at:
http://www.AbundantLivingWealth.com
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