Cash gifting?

Question

is anyone currently doing cash gifting and if so what are your results?

Answer 1

My sister and ex-brother-in-law are gifting to their 3 children. They've been doing this for quite some time now and it has turned the children bitter against one another to some degree. They now feel entitled to the money, they still ask to borrow money for things that they need and or want on top of what the tax laws permits which is $25,000.00 max per year per child. They claim it's a loan but never pay it back for things like tires, veneer dental work, house repairs, furniture,Christmas presents, vacations. The kids are already planning how to spend the inheritance. It's made their kids lazy, bitter, greedy, and ungrateful. I hope you don't create little monsters counting down the number of days you've got left to live. Sorry to have to share this story with you but, it gives you a new perspective on things even though you have good intensions. Good Luck. The stock market is down so they've lost money. I told my sister, how can you gift this year if you didn't make the money? Tell your kids that this year they won't be getting gifted or gifted less. The kids won't here of it. They act as though  it's their money and you've got right to hold out on us.

Answer 2

"Cash Gifting" is the modern name for illegal ponzi/pyramid schemes.  They use the phrase gift to make it sound like it's legal when it isn't.

The bottom layer of the pyramid a slight problem.  It's easy to give money, but very hard to find someone dumber than you to give YOU money.  If enough dumb people go to the police to complain, the authorities may start arresting people.  The common offer--refund the people who "gifted you" and turn in the names of the people you paid and we might not charge you with a crime.

Old names for the scam:  The Airplane Game (you started as passenger, then flight attendant, then co-pilot and captain, each paying a "fare" the layer above them);  The Dinner party (with food courses); the Gem or Treasure game; European versions included Speedball, Liberty, People in Profit.  I had someone try to talk me into one once by claiming they were a group of feminists helping other feminists.  (Oh, you want to steal my money and that's going to help me how???)

Answer 3

you know whats funny about "cash gifting", society has covered it with "buying". people are in business to "sell" you something so you can give them cash for it. Whats the difference? a pyramid? all the major retail stores, gas stations, your job is a pyramid! Go figure!

Answer 4

I've been into cash gifting quite heavily lately. It's a huge thing right now, and with the profit margins you can basically bid anything you want in Google Adwords and still make a profit. it's easy money.

I've been blogging about it a lot lately too. You can check out my dedicated cash gifting blog at http://www.appropriatecashgift.com.

On my blog I talk about cash gifting law, how to drive traffic to your cash gifting pages, the programs I'm in, and some of my random cash gifting thoughts.

Hope that helps

Answer 5

Are you talking about the "cash gifting" that's a Ponzi-like scam?

If so, it's like, well, a Ponzi scheme.  A tiny number of winners followed by a horde of losers.  Your chances for falling into the 'loser' category are extremely high.

Answer 6

If by 'cash gifting' you mean anything other than giving people cash with ZERO expectation of receiving ANYTHING in return, you are involved in a SCAM.  The 'illegal Ponzi scheme' answers are correct.

Answer 7

I'm doing it!

There are some closed minds that attempted to answer this simple question. Chances are that they have a lot of points in Yahoo Answers which indicates they work hard in an activity (answering questions) that doesn't pay them for their time. Goodwill is still a noble virtue to a certain extent, I guess.

I was looking to generate more income in addition to my full time job and came across cash gifting last February. I liked the concept of no inventory, no billing, no returns, and the additional 30% value of all revenue received because it’s tax free.

A cash gifting transaction is pure. Yes, I have to advertise and promote the link to my cash gifting web site just as I would if it were some other opportunity. But, that is it. All the other things associated with running a home based business are out the window.

I do remember feeling empowered when I sent my cash gift to my sponsor. I felt in control of my own destiny and was taking deliberate and decisive action. No-one was forcing me to do it. I also felt like I just threw $2,500 in cash into the street—ugh! But, my web site was up within 72 hours and I now had a link to share with the world to begin receiving cash gifts. Now it was time to get working and advertising my link to drive Internet traffic to my web site.

I didn’t receive and gifts for my first two weeks and my sponsor encouraged me to keep placing ads. Then, I started getting visitors to my web site. Some contact information that people were entering was good and others entered false email addresses and phone numbers. I guess we all do it.

On week three, someone who understood the concept of cash gifting and had a similar mindset sent a $5,000 cash gift and the theory became reality. It worked. They were thinking about investing in a Cold Stone Ice-cream franchise for $270,000, but discovered there are many existing ones for sale because they don’t make money for the first two years. The $5,000 cash gift was a significantly lower risk and they still had money for adverting and marketing.

I reinvest about 20% of all the gifts I receive into placing ads, Google AdWords, and whatever else yields good results.

I am now averaging about $7,000 per week in cash gifts and if it keeps up I’ll probably quit my job. No one at work knows that I’m doing this on the side and I also don’t tell my family or neighbors either.

I think there are a lot of people that are surfing the web and trying to decide whether or not to get into cash gifting. I did for about a week.

Am I lucky? No. Luck is nothing more than being prepared when an opportunity arises. So now I have a link ready to go whenever someone else with an “open mind” is ready to start cash gifting.

Here is my link:

http://www.CashGiftingCashGifting.com

If you don’t have a link for other people to click on that are interested in cash gifting, then they will find someone else that does. I was never one who liked sitting on the bench at any event. It’s is much more exciting and invigorating being in the game.

That’s it.

Answer 8

I checked with my accountant.  In the year, 2008, you can cash gift up to $12,000 to ANYONE you want without a tax penalty.  But if you go over $12,000 per person you pay 50% gift tax to the IRS.  Years ago, it used to be a limit of $10,000, but the limit has been raised.  You can also gift items retaining a value of $12,000 per person.  I have a car worth $18,000.  My daughter wanted it.  I told her that I wasn't willing to pay $3000 (50% gift tax on $6,000) to give it to her.  Now, if both parents are alive, then you can gift $12,000 each...for a total of $24,000 to the daughter.