The Truth about Cash Gifting and Taxation
Make no mistake: cash gifting is 100% legal in the United States and Canada. There has never been a law passed that prohibits us as individuals from sharing our assets, belongings or cash. It is a misconception to believe otherwise – a misconception that can keep you in the poorhouse. From the beginning of time, people have helped other people. Everybody needs help sometimes. Gifting programs allow the receivers to obtain proper housing, start businesses and even send their children to college.
Cash gifting systems that are based on honesty and integrity use what is known as the EZ1Up program. In a nutshell, this means that you give first and then receive. Of course, the beauty of it is that with proper promotion you receive far more than you ever gave initially. You recoup your investment rapidly – and many times over! The United States IRS Tax Code, Section 26 defines explicitly the taxation responsibilities that apply to cash gifting programs. In essence, you can receive up to $11,000 from any number of individuals without any taxation implications.
In excess of $11,000, you are required to report the monies received as income and pay a regular income tax on them. It is always advisable to keep a close record of monies received from cash gifting programs. They can build up very quickly. Pay your taxes on time and diligently and there will be no problems - ever. Cash gifting is hugely popular now days. There are no bogus products to buy or sell like with MLM programs. Those who have been in MLM programs can finally offer their downlines something that they can actually make money on. EZ1Up programs eliminate all of the hype and nonsense that you find with all MLM programs. You give and then you receive – it’s that simple. Stop wasting your time promoting programs that force you into monthly dues and the promotion of bogus products while simultaneously disallowing you from making any real money.
Explore the realm of cash gifting programs today. With the EZ1Up platform, there is no chance of being cheated. There are constantly monitored databases that ensure a level playing field for all. No more are the people at the top of the ladder the only ones to benefit. Everybody is equal in a cash gifting program. Gifting programs are comprised of private groups of like-minded individuals. They are people that value the timeless tradition of generosity. They feel good about helping those less fortunate than them. They feel even better when others help them back. It’s a Win-Win situation for all.
It is 100% legal. And as long as you pay your taxes, there is only benefit to be gained. Prosper!.