There has been a recent increase in awareness and appeal in cash gifting over the past few years. In fact, you have probably come across at least one cash gifting opportunity recently if you spend any significant time at all on the internet. You may be asking yourself some (or all) of these questions: what is cash gifting? Why is it becoming so popular now? Is it legal? Does it really work—and if so, how?
Basically, cash gifting is exactly what it sounds like—it is the giving of cash gifts among private individuals without any expectation of reward. It does not involve the exchange of goods or services, MLM or any type of network marketing. There is no company that makes a profit or generates any revenues, there are no employees, and none of the participants involved "earn" any money or income. There is no "pyramid structure", no "matrix" or any other structure that would give any participant any advantage over another. It is really that simple.
So, why do people participate in cash gifting—and why is it on the rise? The concept of gifting has been around for hundreds of years in one form or another—and the reason people participate is simply to share their wealth and thus attract even more wealth back to them. It is based on the principles behind the law of attraction: what you focus on most, you attract back to you in abundance. So why is there a renewed interest in cash gifting recently? There could be several reasons—first, the law of attraction has been getting a lot more media attention since the book “The Secret” was published, so there is just more focus on this age-old way of inviting health, wealth and abundance into your life. Cash gifting is just one proven way to attract wealth into your life. Second, with a sagging economy many people are taking bold moves to insure their own financial futures. There is no risk involved in cash gifting, and its success is not based on the stock market, commodity prices or the health of the economy—so it has become a solution for financial freedom for many during these hard times.
Is it legal? Absolutely. Private cash gifting is based on the fact that American citizens have the Constitutional right to gift property, cash and other assets. Cash gifting is 100% legal and the U.S. gifting rules can be found in the IRS Tax Code, Title 26. The law allows for individuals to give and receive up to $12,000 each calendar year per person they are gifting to (or receiving from) without any tax liability to the giver or receiver. It is really no different than giving or receiving cash gifts for your wedding or your birthday. So as long as you give or receive a cash gift of less than $12,000 from any one person, you will not owe taxes on that gift. This applies even if you receive or give multiple gifts below the threshold.
Finally, does it work—and if so, how does it work? Although all gifts are made without assumption or an expected return, the Universal Law of Attraction, based on the premise of "when you give, you shall also receive" has an amazing way of proving itself over and over. This is not a business, so there is no way to show ‘revenue’ or annual ‘profit’, etc. However, anyone who has been involved in cash gifting even for a short period of time can certainly attest to the success that they have had in reaping all that they sowed…and a lot more. Cash gifting programs can be started in many ways—including by simply introducing the idea to friends and family and encouraging them to pass the information on to their friends and so on. You just need to keep track of who you give and receive gifts from—and how much. However, with the powerful tools available on the Internet, cash gifting has become more broad based than just friends and family and thus, is has been more successful and easier to participate in than the older more manual model. There are even systems available (both for free and paid) that help track all the information you need online.
Cash gifting opportunities are straight forward and very rewarding—and if they are done well, you can see abundant change in your wealth and know the amazing delight of helping others reap abundance as well.
Have a Great Day!
Brett
http://blog.brettdunham.com/
Sunday, April 5, 2009
Saturday, April 4, 2009
The Legality of Cash Gifting
Some of the most common apprehensions with cash gifting are the concerns around whether it is legal, or a just a scam or even if it some type of pyramid scheme that borders on legal. The intention of this post is to dispel these flawed beliefs.
A lot of people research or become interested in cash gifting because they are looking for a way to bring in a cash flow and be able to either stay at home or otherwise work from remote locations. They have also usually already explored home based businesses and MLMs as well and have opted to go a different route for their own personal reasons. So why do they still hesitate to get started? Fear based on a lack of accurate information. Many decisions are made in this world based on “facts” that are actually just opinions. Facts are facts—so that is what I will be sharing in this article.
So let’s begin by defining cash gifting, and pyramid schemes. Cash gifting is the act of privately or publicly giving another person a declared amount of cash. This cash is given freely; it is not a loan, is not for goods, nor is it for any services rendered. Most of the population of the world is already engaged in cash gifting in some form or another. For example, sending a birthday, wedding or Christmas card with money in it is cash gifting. Charitable contributions are also forms of cash gifting, however, because they are given to non-profit organizations and not individuals—those contributions can be tax deductible. The premise behind it is the same, especially as it relates to religious donations. The individuals give freely to the church as a way of showing faith that this will come back to them 10 fold.
A pyramid scheme is defined as an illegal investment scheme in which investors are promised returns on their investments. There are usually several layers or levels that receive a portion of each investment and usually only those at the top see return on their investment. The primary differentiation between a pyramid scheme and cash gifting is the levels and the promised return on investment. There is no hierarchy in cash gifting and no one at the top is bringing in all of the revenue. It is based on the principle of reciprocity: “…pay in kind what another has provided to [you]”
Cash gifts, up to $12,000 a person is also not taxable, (according to The Internal Revenue Gifting Tax Code Title 26, Sections 2501-2504 and 2511) provided they follow the guidelines outlined in the Tax Code. These guidelines state that the cash gift cannot be made with any expectation of return, no goods or services will be rendered, and no future expectation of return will be made. This is the definition of cash gifting. I would encourage anyone interested or skeptical of cash gifting to read the tax code.
Scams attempt to defraud someone into believing something that is not true. So, provided that you believe in the Law of Attraction: ‘that giving is the best way to bring about receiving’ as a Universal truth…it cannot be considered a scam.
Brett
http://blog.brettdunham.com/
A lot of people research or become interested in cash gifting because they are looking for a way to bring in a cash flow and be able to either stay at home or otherwise work from remote locations. They have also usually already explored home based businesses and MLMs as well and have opted to go a different route for their own personal reasons. So why do they still hesitate to get started? Fear based on a lack of accurate information. Many decisions are made in this world based on “facts” that are actually just opinions. Facts are facts—so that is what I will be sharing in this article.
So let’s begin by defining cash gifting, and pyramid schemes. Cash gifting is the act of privately or publicly giving another person a declared amount of cash. This cash is given freely; it is not a loan, is not for goods, nor is it for any services rendered. Most of the population of the world is already engaged in cash gifting in some form or another. For example, sending a birthday, wedding or Christmas card with money in it is cash gifting. Charitable contributions are also forms of cash gifting, however, because they are given to non-profit organizations and not individuals—those contributions can be tax deductible. The premise behind it is the same, especially as it relates to religious donations. The individuals give freely to the church as a way of showing faith that this will come back to them 10 fold.
A pyramid scheme is defined as an illegal investment scheme in which investors are promised returns on their investments. There are usually several layers or levels that receive a portion of each investment and usually only those at the top see return on their investment. The primary differentiation between a pyramid scheme and cash gifting is the levels and the promised return on investment. There is no hierarchy in cash gifting and no one at the top is bringing in all of the revenue. It is based on the principle of reciprocity: “…pay in kind what another has provided to [you]”
Cash gifts, up to $12,000 a person is also not taxable, (according to The Internal Revenue Gifting Tax Code Title 26, Sections 2501-2504 and 2511) provided they follow the guidelines outlined in the Tax Code. These guidelines state that the cash gift cannot be made with any expectation of return, no goods or services will be rendered, and no future expectation of return will be made. This is the definition of cash gifting. I would encourage anyone interested or skeptical of cash gifting to read the tax code.
Scams attempt to defraud someone into believing something that is not true. So, provided that you believe in the Law of Attraction: ‘that giving is the best way to bring about receiving’ as a Universal truth…it cannot be considered a scam.
Brett
http://blog.brettdunham.com/
Friday, April 3, 2009
First Post! Cash Gifting - Arizona
Hi, this is my first post to this new blog, thanks for checking it out. I have been involved in cash gifting for a while now and have really gotten off to a great start.
Believe me when I tell you nobody was more skeptical about freely mailing someone cash than I was. But after extensive research I decided it made perfect sense. Of course the legality was foremost on my mind but after talking to a few people I trust unconditionally, I came to the conclusion that cash gifting was right for me.
I plan to use this blog as a journal of my experiences, and to hopefully inform others on a variety of topics that have helped me along the way.
This being my first post I will keep it short.
Oh yeah.....I just finished a great book called INFLUENCE - The Psychology of Persuasion by Robert B. Cialdini.....a must read!
Have a Great Weekend!
Brett
http://blog.brettdunham.com/
Believe me when I tell you nobody was more skeptical about freely mailing someone cash than I was. But after extensive research I decided it made perfect sense. Of course the legality was foremost on my mind but after talking to a few people I trust unconditionally, I came to the conclusion that cash gifting was right for me.
I plan to use this blog as a journal of my experiences, and to hopefully inform others on a variety of topics that have helped me along the way.
This being my first post I will keep it short.
Oh yeah.....I just finished a great book called INFLUENCE - The Psychology of Persuasion by Robert B. Cialdini.....a must read!
Have a Great Weekend!
Brett
http://blog.brettdunham.com/
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