CASH GIFTING PROGRAM REVIEW
In this special edition of National Home Business Review, we will be reviewing "cash gifting leveraging" programs.
The cash gifting program business which uses cash leveraging as its guide has been gaining in popularity. In our continuing effort to update and monitor the ever expanding explosion of Internet based businesses we have decided to create a specialized web site exclusively devoted to the recent emergence of the cash leveraging / gifting industry. As an example the Abundant Living System and Too Damn Easy cash gifting programs will be reviewed along with a host of other cash leveraging programs.
Many of our members have requested that we review the numerous entries into this facet of the home based business industry so as to provide some guidance with which they could make an intelligent and informed decision. If you have any questions or would like an additional gifting program reviewed, please feel free to drop us a note.
We do want to address two important issues regarding our "business" reviews which has frankly caused us a great deal of concern for this particular business program that we will be reviewing today. These two issues surround the legality and practicality of the business in general. However because some people may not have a problem looking past these issues we will none the less offer our perspective from a fundamental business point of view during our review. If one comes to the conclusions that we arrived at in general for this industry, you will be happy to note that we have come up with a strong recommended alternative business which we feel captures the essence of the strong points that the gifting business offers while avoiding its negative constrains. So, make sure you review our recommendations as well.
There has been a lot of speculation surrounding the actual legality of gifting businesses. Now, we should like to caution here that the operators of the gifting businesses do not like being referred to as a business. They insist they are a private activity where entrance is only gained by invitation. They often will refer to a IRS statue that declares gifts up to $13,000 are tax free. So, on this basis they declare that the money you receive is tax free because it is a gift.
After conferring with our legal consul, we have come to the determination that this concept will likely fail to hold up in court for the simple reason that in the past the courts have taken on the view that when a concern is operated like a business, advertises like a business and in truth "everyone is in it for the money", that no true gift was ever actually intended and the whole purpose for its members is to enrich themselves while attempting to avoid taxes. So we feel that there is a very high likelihood of the courts ruling that this concern is in effect a business without products designed to enrich its members while trying to evade the taxes on profits from the business. Therefore one could easily find themselves charged with tax evasion. So, for this reason we find this a problem certainly if you think you will be able to skirt the tax issue. This legal issue is noted in all of the reviewed gifting programs. This has proven to be a major reason most people do not join gifting programs, they rightfully fear the legal ramifications of court challenges.
On another front the gifting business for the most part operate without any products and this too has caused the alarm bells to sound. One has to ask "just what am i getting in return for my hard earned money"? As far as we can see , Nothing! So, again, the courts are likely to see this as just another money game and they will very likely invoke the statues for you to prove that this is not just another form of a Ponzi scheme where innocent people are left holding an empty bag. Another major reason many people do not join gifting programs, is it really legal?