What Is Cash Gifting and Is It Legal?

After hearing about a family at her church (that were about to lose their home because of major financial problems) decided to do something about it. Coming from the bible belt and being part of some traditional “Barn Raisings” (where an entire town would come together and help a family in need by donating their resources) she decided to urge members of her church to give “Cash Gifts” to help out the desperate family. Within 24 hours the family emergency was over and they had enough money to save their home (as well as received several job offers from other church members) all because of the group dynamic of “selfless giving” without any expectation of return.

The concept worked so well that even the “Scam Artists” of the 1970’s pyramid schemes took advantage of this prosperity building principle. These “Scam Artists” gave the FTC good reason to warn people away from the “Pyramid Ponzi Schemes” that became very popular in the past. In the late 1990’s “Cash Gifting” again became a popular concept embraced by more church and private groups than ever before. And with the advent of the Internet and the popularity of working from home, a global “Cash Gifting” phenomena had begun.

Is Cash Gifting Legal?

The answer is Yes! You can visit IRS.GOV and search for Cash Gifting. From my understanding a single person can receive 12,000 from any one person or 24,000 per married couple with out having to pay "gifting tax". Please Make sure you consult with your local government to make sure there are no hidden taxes or fees involved as laws may very.

With every cash gift that the North American Cash Gifting program offers you have to receive a Gifting statement and a NON Solicitation statement. This will bring notice that the giftor is giving you cash with no string attached and expects nothing in return.

So to sum all of this information up for you, Cash gifting is one person joining a club and gifting the person at least $500.00 with the NACG and by doing so, they can receive $500.00 For the rest of there life by gathering members that are interested in making some extra cash.

So If Tom Talks with Bill and says "Bill, I have got this great opportunity for you to make a lot of money, and it's easy as pie, no cold calling, no potions or pills to sell, and you keep 100% of the earnings, the best part bill, is it's 100% tax free if under $12,000 and if you receive a cash gift from a couple, it's tax free up to 24,000, now bill if you do happen to receive more than 12,000 per person or 24,000 per couple, you will have to pay gift tax, and you can search for that on GOOGLE or YAHOO to find out how much that is, or IRS.GOV

So now you know what cash gifting is, and that it is legal so move fwd to the next blog to find out which programs are the best for you to join.