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LE23 Money Team Cash Gifting Explained (How it Works):
LOU GATTO·SUNDAY, JANUARY 15, 2017
1.Cash gifting explained (how it works):
Cash gifting on it’s own is just the process of giving away money to someone else, whether it be a person or an organization as an act of charity basically. When doing cash gifting, the incentive is to give money, NOT receive it.
Think of times when you get/give money:
Weddings.
Birthdays.
Special events.
Charity.
Ect…
These are all scenarios where it’s custom for people to hand you an envelope with cash in it. That’s cash gifting in a nutshell.
2. Is cash gifting legal? ...In A Word YES!
Absolutely. It is YOUR right to give away cash. Cash gifting is even recognized in the tax code of the US. I looked into it.
What makes Cash Gifting legal, as it is practiced today is one thing, THE IRS TAX CODE! The tax code itself legalizes cash gifting and is there for a reason. By definition, “Cash Gifting” is the act of privately or publicly giving another person or an entity a declared sum of cash and to give it freely without coercion or consideration. Cash Gifting is not a loan or a payment for goods or services. IT IS A PRIVATE ACT OF CHARITY. The amount that is given or received can vary, but to be tax exempt it cannot exceed $14,000 (per IRS Tax Code Title 29 and Publication 950, effective January 1, 2006, to any one person within 1 calendar year. The section of the tax code which covers gifting is HERE. If you intend to start cash gifting study it, learn it, memorize it! A properly structured Cash Gifting program is based on the constitutional right of all individuals being able to gift property, assets and/or cash to anyone they wish as long as it is done in a way that follows IRS tax code guide lines. The IRS tax code protects both the giver and receiver equally. Most people who cash gift do not report these gifts and have not legal obligation to do so. However, if getting in trouble in the IRS is what concerns you most, JUST REPORT THE GIFTS! It doesn’t mean you can’t participate in cash gifting. Get with the program!
This is not an INVESTMENT or a BUSINESS OPPORTUNITY
*** PLEASE DO NOT USE THESE WORDS*** & we paid no commissions!
You do not have to recruit other people to join us!
This is a PAY IT FORWARD, PEOPLE HELPING PEOPLE PROGRAM!!!
3. Besides presents, what other benefits does cash gifting posses?
Well it’s not taxable to those you send the money to. A gift is a gift and it is exempt from taxation unless it goes over the $14,000 mark. As for those who actually give away the money as a gift, I believe you can also write this off like you would any donation for things like charity. So besides the receiver of the cash having more money, the other benefits are in the tax department.
The Gift Tax: If you give people a lot of money, you might have to pay a federal gift tax. But the IRS also allows you to give up to $14,000 in 2016 to any number of people without facing any gift taxes, and without the recipient owing any income tax on the gifts.
Why it pays to understand the federal gift tax law
If you give people a lot of money or property, you might have to pay a federal gift tax. But most gifts are not subject to the gift tax. For instance, you can give up to the annual exclusion amount ($14,000 in 2016) to any number of people every year, without facing any gift taxes. Recipients generally never owe income tax on the gifts.
In addition to the annual gift amount, your can give a total of up to $5.45 million starting in 2016 in your lifetime before you start owing the gift tax. If you give $16,000 each to ten people in 2016, for example, you'd use up $20,000 of your $5.45 million lifetime tax-free limit—ten times the $2,000 by which your $16,000 gifts exceed the $14,000 per-person annual gift-free amount for 2016.
Why should you join a Cash Gifting Program?
Frankly speaking ...
Cash Gifting skips all the bullshit!
It’s very straight forward.
No products to push on people and it’s a serious no brainer, which means anybody with an ounce of common sense can be successful in promoting a Cash Gifting Program.
So with all that being said, let me share with you my good long time friend Luis Escalera?
who loves to help people has just started a Money Team Cash Gifting Program to help put more money in your pocket in 2017!!!
And yes you will get paid, you do not need to sponsor but you can help and share with the people you love that could use the extra cash and help speed up the cash outs!
People Helping People!
Getting started is simple and all you have to do is #GiftInCashOut in our
Jump Start PrePhase Pay It Forward Program
You Pay It Forward for $20 + $3 paypal fee and we will Pay It Forward to You $100
You Pay It Forward for $25 + $3 paypal fee and we will Pay It Forward to You $125
***You Pay It Forward for $30 + $3 paypal fee and we will Pay It Forward to You $150
*** This is how I got started and was in the Payout Zone on the 1st day and got paid quick!
The truth from the law: It's a crime.
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GIFTING CLUBS
Gifting clubs are illegal pyramid schemes where new club members typically give cash “gifts” to the highest ranking members. If you get more people to join, they promise you will rise to the highest level and receive a gift much larger than your original investment. But only a few people profit from this scheme and most people lose their investment.
Organizers keep creating new names for gifting clubs, such as “Friends Helping Friends,” “Women Empowering Women,” “Airplane,” and “Pit Stop,” but these clubs all work the same way and are all illegal. If someone asks you to join a gifting club, don’t fall for their high-pressure sales tactics or stories of great earnings.
Watch out for false claims like these:
Claim: This program is legal.
Fact: Gifting clubs are criminal enterprises. Organizers are guilty of a felony, and participants are guilty of a misdemeanor.
Claim: According to the IRS this is legitimate, because the law allows you to give someone up to $13,000 each year without a tax consequence.
Fact: Gifting clubs are not approved by the IRS.
Claim: The money paid to join is a gift.
Fact: A legitimate gift has no strings attached and is not an investment. Signing a statement that you expect nothing in return does not change the situation, and neither does calling the entry fee a “loan.”
Claim: This has been endorsed by the Attorney General.
Fact: The Attorney General does not endorse any business or investment plan.
Claim: Much of the money is donated to charity.
Fact: Even if the money is donated to charity, this does not make the program legitimate.
Claim: Prominent people are participating in this.
Fact: The people named probably are not participating.
Claim: This program isn’t a pyramid; it’s a circle with money flowing between the members.
Fact: Gifting clubs all meet the definition of an illegal pyramid scheme despite jargon that may be used to disguise the true nature of the program.
Claim: No laws are broken if your gift is in cash and not sent through the US mail service.
Fact: Organizers prefer receiving cash because it is difficult to trace, not because it makes their scheme legal.
Claim: Investing in this program helps create prosperity in the community.
Fact: No new wealth is created by gifting clubs. Money invested at the lower levels simply goes to the person at the highest level. The only way for participants to recover their money is to bring new people into the scheme. When the scheme shuts down, the last people to pay lose all of their money.
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Hi LE 23 MT ONE TEAM ONE DREAM,
We are inviting you to a life changing webinar!
Topic: LE 23 MT Gifting Pay It Forward Program
Time: Jan 23, 2017 9:00 PM Eastern Time (US and Canada)
Join from PC, Mac, Linux, iOS or Android:
https://zoom.us/j/486904854
Or iPhone one-tap (US Toll): +14086380968,486904854# or +16465588656,486904854#
Or Telephone:
Dial: +1 408 638 0968 (US Toll) or +1 646 558 8656 (US Toll)
Meeting ID: 486 904 854
International numbers available:
https://zoom.us/zoomconference?m=0bC...2tVc333LnHyeZK
