Program Summary and Review of the Magnetic Cash Gifting System.
Magnetic Cash Gifting System program is basically another typical cash leveraging gifting program based on 4 levels of entry. They also require you to give up your first person that you recruit into the business.
Upfront costs / expenses
Magnetic Cash Gifting System has 4 levels of participation: $250, $500, $1500, and $3,500. So, of course you will have to start with this cost. Magnetic Cash Gifting System program does give you a company web site when you join, but that in itself is not enough.
They also charge $47.00 per month for additional information they provide that is designed to help you market their web site. If no one goes to your site, you don’t make any money.
They also charge about $200 each time you elect to use their auto dialer, to send out automated calls with a 60 second message to about 8000 people in order to get some visitors to their web site.
If you want a private capture page, which is recommended as then you would have somewhat different site that some of the other members, that also will cost you extra again.
While Magnetic Cash Gifting System program does offer some items free, there is no escaping the fact that this business will have costs just like any other. We don’t see that as a negative, but they could have been a little more upfront with this kind of specifics on their site.
Legal issues
Magnetic Cash Gifting System program attempts to illustrate that this business will not be liable for taxes because they claim that the money you receive is a gift.
But they seem to overlook the fact that they are operating this program as a business and that it is likely to be viewed by the IRS as a business for the purpose of enriching themselves via this program. We think this will get most people in trouble with the IRS.
Here again as with just about all the gifting businesses, we have this legal aspect which is a constant point of conflict. There has been a lot of speculation surrounding the actual legality of the Magnetic Cash Gifting System. Now, we should like to caution here that the operators of the Magnetic Cash Gifting System 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 avoid 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.
On another front the Magnetic Cash Gifting System is operated without any products and this too has caused us to be concerned. One has to ask “just what am i getting 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 not just another form of a ponzi scheme where innocent people are left holding an empty bag.
Advantages
Magnetic Cash Gifting System program does give you a free web site and no hosting fee.
Disadvantages
Magnetic Cash Gifting System program is newer in the industry and has been exposed with allowing hijacking and presenting false testimonies on their members websites.
Compensation plan
Magnetic Cash Gifting System program has 4 levels of participation: $250, $500, $1500, and $3,500. All members are required to give up their first person to their inviter before they will be able to make any money.
Support provided
Magnetic Cash Gifting System does provide support via some videos and assorted instructions such as placing ad on Craigslist etc. but they mainly push and recommend the support they offer for a price of $47.00 a month which the claim is what the big hitters are using.
Difficulty rating
Magnetic Cash Gifting System is expected to continue to have difficulty with attracting new members due to the bad press that has accumulated with regards to some of their practices.
Reputation / Word on the street:
Magnetic Cash Gifting System is another one of those gifting programs that actually is allowing and using voice testimonies which were actually taken from some of their competitors live calls and then presents them on their member’s site to suggest that these people are members of Magnetic Cash Gifting System, WHICH THEY ARE NOT! So, this causes us to ask how can you possibly give this business any consideration when they lack the integrity or ability to use their own members.
Final Analysis / Recommendation:
Magnetic Cash Gifting System program is not one we could feel good about joining. You could have a shot at being successful if you able to overcome some of the issues which have surfaced with them. We would have to ask our self why would we want to have to deal with this type of baggage when their are better options out there. One of the weaker systems we found when compared to other systems.
Magnetic Cash Gifting System program should only be considered if you have a strong background in Internet marketing as well as the ability to defend the likely legal issues that may arise in time.
Again we feel that there are many suitable alternative businesses which have significant advantages over this gifting program. However if one wishes to avoid the anxiety associated with the direct selling approach so common with legitimate businesses yet still insist on having a legitimate business model that offers a reasonable opportunity for success for most people then, your options will certainly narrow.
We can easily direct you to a host of companies that we have reviewed in the past which provide quality products. However, this always involves substantial expenses for your inventory or to auto ship your products each month.
If you truly want to avoid these issues then three businesses which we favor can be recommended because they have all the benefits of this gifting business but with none of the negatives associated with this gifting program. They are: Passport To Freedom, People’s Concepts Inc. and IWIN.
Of these 3, the IWIN business has to be considered the stronger of the 3 for several reasons. One being they offer lower levels of participation which are more attractive to the masses and yet with very low expenses. They offer possibly the best marketing / teaching system that we’ve ever reviewed for the average person. Additionally they offer a robust compensation plan which is among the top in the industry.
In fact in an earlier review they earned our coveted “5 STAR TOP BANNER” award. You can visit their site by clicking here.
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