Cash Gifting NOT a Typical Home Business Opportunity


by ricoequator

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http://DailyCashGifts.com Visit my Cash Gifting website and I will change your life The concept of private gifting is based upon the fact that both American and Canadian citizens have the Constitutional right to gift property, cash and other assets, and are subject to the rules and regulations established by the laws. The U.S. gifting rules are found in the IRS Tax Code, Title 26, Sections 2501-2504 and 2511. The law states that one or more individuals can give a gift to another individual of up to $12,000 each per calendar year without any tax liability to either the giver or receiver of the gift, because the tax on the gift has already been paid. What this ALS site does not bother to mention is this excerpt from the IRS’ own page devoted to questions on gift taxes: What is considered a gift? Any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money’s worth) is not received in return. In other words, the Abundant Living System promises that you’ll receive “joyous cash gifts,” and that the IRS is perfectly fine with this, are bogus. If you get as much or more money back from the program as you put into it, you’ll no longer be getting a gift, and you’ll have to pay taxes on it. But there’s more from the ALS website, regarding its system of levels. Here’s another direct quote: Whenever any of your direct referrals invites a new members in to ALS, and they decide to join at a higher level than your referral is presently at, that cash gift will bypass them and pass up to you (as their inviter). That sucks for your direct referral as they’ll miss out on that gift (because they can only receive gifts up to a maximum of the levell (sp) they’re at) - but again it’s ANOTHER CASH WINDFALL FOR YOU because you were smart enough to join at a higher level! Does that sound like a fair system which is “TRULY affordable for anyone!” Sure, you can begin at their $150 level (and ...