subject: Why Cash Gifting or Cash Leveraging is Illegal [print this page] Why Cash Gifting or Cash Leveraging is Illegal
Today there are more resources than ever before to help you become successful! The challenge today is, knowing who to trust.When you know how a business works, you WILLsignificantly increase your odds of success!
Hobbies COST money, businesses should MAKE money. So if you're not serious about building your business, please don't be one of those people who invests in all the resources and trainings available and then never does anything with them. (I've been there.)You're never going to be able to buy your way to success without actually doing the work. It's never about the resources, it's about being resourceful!
Gifting is viewed as a means to do good for another human being. The gifting tax code also agrees with this definition.When gifting is promoted and you solicit others to do so for your benefit, then it becomes a business and gifting takes on a different genre.
In fact, I have learned that both American and Canadian citizens have the Constitutional right to gift property,cash and other assets.In the United States we have the Preamble, the Constitution and the Bill of Rights to protect a private citizen's rights to earn, pay taxes and giveaway property and cash as long as it's done according to the laws and codes of this country. The U.S. gifting rules are found in the IRS Tax_Code,Title 26, Sections 2501-2504 and 2511. (referenced above)
The law actually states that one or more individuals can give a cash gift to another individual of up to $12,000 each per calendar year withoutany tax liability to either the giver or receiver of the gift, because the tax on the gift has already been paid.
A properly and legally structured gifting program that uses a "1Up" structure is not a pyramid scheme since there is only 1 tier, or level. But let me define what a pyramid actually is before we go any further - A pyramid is usually associated with a company or a business. Gifting programsare not companies, they are considered a private sharing activity.
Gifting programs require no sales quotas (there's no product to sell), there are no positions to be sold, and they don't have an ever-wideningbase to the structure, which just keeps going and going to infinity.
A pyramid never allows anyone coming in on the bottom to ever reach the top. With a 1UP Cash Gifting program, everyone gives the same gifts, works together in a team dynamic, and receives the same gift.
Cash gifting is illegal: BECAUSE..... When you actively recruit others to provide cash gifts to you or others and promote others to do the same, this is illegal. One of the best arguments made on the legality of Cash Gifting can be viewed on the You Tube site below.The language used in this video is a little rough but the arguments made and points outlined are right on target:
Even in Canada cash gifting is illegalCANADIAN LAW ON GIFTING
Criminal CodePART VII: DISORDERLY HOUSES, GAMING AND BETTING Gaming and Betting
206. (1) Every one is guilty of an indictable offence and liable to imprisonment for a term not exceeding two years who(e) conducts, manages or is a party to any scheme, contrivance or operation of any kind by which any person, on payment of any sum ofmoney, or the giving of any valuable security, or by obligating himself to pay any sum of money or give any valuable security, shall becomeentitled under the scheme, contrivance or operation to receive from the person conducting or managing the scheme, contrivance or operation,or any other person, a larger sum of money or amount of valuable security than the sum or amount paid or given, or to be paid or given, byreason of the fact that other persons have paid or given, or obligated themselves to pay or give any sum of money or valuable security underthe scheme, contrivance or operation;
Legal cash gifting:
Legal cash gifting is when one person gives another a sum of money (no more than $12,000 a year, per person) with no expectation of return.Neither the giver nor receiver have any tax liability in this situation.
How federal and state law enforcement look at cash giftingMost localities view pyramid schemes as some form of fraud or what is called "theft by deception." In most states running a pyramid schemeis at least a misdemeanor. In other states it is a felony. The federal government indicts under tax evasion and investment fraud statutes.
THE NEW LEGAL WEALTH CREATION PROGRAM :
Now that we have ruined your dreams and expectations of making your dreams come true through gifting, I would like to introduce you to avery legal option to this dilemma. If you are looking for a business that can make you a minimum of $1000 a day and give you access to abusiness that will never be questioned for its legality then you have reached the right path to your financial freedom.
Waste no more of your hard earned time or money and see for yourself why this business is the best structured and legally formed business in the Cash gifting or Leveraging arena to date.It is so easy to do and only a select few will be qualified in realizing their financial dreams through this system.
Put everything into proper perspective and take advantage of the opportunity where all you have to do is return calls from interestedpeople who are serious about making money legally. Yes, its as easy as that. Please note that you have the option of receiving allthis money in cash, credit card, directly into your bank account or even pay pal. How much more flexible and transparent can this opportunity be.
