Is Cash Gifting Actually Legal
Awesome New Business Model Or Just an Old Time Scam. In researching various home based business models recently, I’ve run across something I have seen in the past but didn’t really know a lot about-Cash Gifting. And right away you’re thinking, sounds like a program I can get behind. But be careful because getting behind is exactly what could happen. If having a great name meant being the best then this program might be one up. In this program the idea is to give a gift of whatever the set amount for your particular program and then recruit more people to do the same in a never-ending money tornado where you will eventually be rich.
At this point, I do not call it a business, because I just don’t believe it is. Sure the folks you are affiliated with may have a clever business tag line, but the fact is that with these programs, there are no goods or services changing hands. Therefore, there is no business being done. Proponents of these programs or systems, will tell you that products in other network marketing businesses are not useful or just aren’t competitively priced; that they’re just a “cover” for shifting the money around because that is the only reason anyone is working a business from home. As far as I can tell, the Federal Trade Commission does NOT recognize these systems as legal business.
The participants of these programs also attempt to give the IRS the runaround as well by calling it gifting. Because some distorted individual decided to take something good that is given by the government and manipulate it for profit. I can’t say that I am giving you the full inside scoop on cash gifting programs, because I never joined one. There were too many red flags. If I am working a home business, I don’t want trouble with the government in any way, shape, or form. If you are doing something deemed by the government as illegal or unethical, do you really think you have the funds required to defend yourself against the federal government? When researching MLM or network marketing businesses, you want to look for something that is grounded in real products or services. Certainly you want these things to be useful or helpful to you, as self consumption is part of most multi level marketing programs. And you want your product to be cost competitive with similar products in the market. You want to have a product with real retail opportunities. This helps to legitimize your business in the eyes of people scrutinizing it, as well as puts money in your pocket.
Good luck in all you endeavors.
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