Cash Gifting – The Top Ten Reasons To Avoid It
We have compiled a list of reasons why anyone who is trying to figure out how to make money should steer clear of cash gifting. While this list is not exhaustive, you get the picture.
1. Cash gifting is a sibling of the pyramid scheme. As you probably know, several of people have gone to jail due to their involvement in pyramid schemes. This is even the case for those who have lost their money.
2. You are expected to trust sending hundreds, if not thousands of dollars to a stranger who you will never get a refund from.
3. You will have a difficult time convincing other strangers to send money to a stranger (ie. YOU).
4. You almost never know who the administrator really is, meaning that they are trying to hide from you. People usually hide when they have something to hide.
5. Customs may flag and hold packages crossing international borders. I actually know someone who this has happened to.
6. Online business is something to be proud of. There should be no reason to hide anything. Cash gifting involves taking from Peter to pay Paul. Furthermore, you should never have to pay someone money before you can make money.
7. The early indication from the existing case law and statutes is that cash gifting is illegal. People try to claim the legality of cash gifting by stating a specific section of the tax code. However, the scope of the tax code is not to determine the legality or lack thereof of a transaction. Rather, the scope of the tax code is to determine whether monetary transactions are taxable or not, irrespective of their legality. I have actually heard these words come out of the mouth of an IRS agent.
8. Sending concealed hundred dollar bills via overnight mail is extremely burdensome to anyone. Not only are people uncomfortable with this, they do not want to waste the time.
9. Many cash gifting programs will lead you to believe that they will “close” your recruits for you and have them send you the money, when in reality you do all of the marketing, and they have the recruits send them the money.
10. Here is an oldie but goodie. If it looks too good to be true, it probably is.
Okay, I had to cut myself off, because I could have given you at least ninety more reasons why you should avoid cash gifting if you are trying to learn how to make money. Hopefully you understand that you should never have to pay money to a program in order to make money. Furthermore, cash gifting is unethical and unsustainable.
Do not be tempted by the false claims of Cash Gifting. All Cash Gifting Programs are a waste of time and money. Do not be victimized.