Is Cash Gifting Legal?
The United States has a law that says a person can gift – or give – you a certain amount of money without tax penalties. Discovering this law has led many down the road to investing in cash gifting. There are some who say they make six figures a year off of cash gifting. They never report their earnings to the government because cash gifting involves sending money through the mail to another person. An all cash business can hardly be traced by the government, so they use this loophole to make as much as they desire without consequences. But is this course of action legal?
Ignore the morality of the situation and focus on the laws surrounding it. For starters, cash gifting must be done without any advertisement involved whatsoever. Right there, you’ll find that these programs break the law. Many submit their site to Google, which is without a doubt an advertising method. This is one of the more sordid methods to make money with Google. Then too, they send out emails to various people, asking them to join for a price as low as $5, or sometimes an exuberant amount like $2500. That much money in cash needs to be forwarded to the postal address of the person who invited you in, who will then call or write you saying “Thank you for your gift.”
But it wasn’t a gift. That money went towards buying your way into the program, so that you can get cash in the mail large amounts like your sponsor did, without him having to shave money off the top. Usually these programs are set up in levels marked by dollar amounts – $100, $250, $500, $1000 or $2500 are the most common figures. If you send in $100, you’re only allowed to get $100 in cash at a time. The rest goes to your sponsor. So if someone sends you $2500, you take $100 and the other $2400 goes to the person above you who’s in the qualifying level to receive it.
This is certainly not legal. No matter how it’s worded on the website, you are buying your way into a program after it had been advertised to you. You’re not donating to a worthy cause like a disaster relief. You’re lining people’s pockets. Phrasing this as “cash gifting” is certainly not legal.
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