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The Birth Of Cash Gifting Programs

By: Ronnie Navasca With the online success of different cash gifting programs, critics have been hurling left and right comments to discredit online cash gifting. Cash Gifting has been improperly labeled as unethical, a scam, or in some cases illegal, none of which are true! So let us learn more on this money generating opportunity!

What is Cash Gifting?

Let us look at the definition first:

Cash gifting is just what it sounds like it is. A person sends a cash gift to another person so that the other one too can commence to receive cash gifts. The next logical question: how can you send someone money? And in the answer is quite simple: in the same manner you can give someone a check on a special occasion like Christmas, or cash in a card as a present.

"Cash Gifting" is the act of privately or publicly giving another person or an entity a declared sum of cash and to give it freely without coercion or consideration. Cash Gifting is not a loan or a payment for goods or services. The amount has NO bearing, although to be tax exempt it must be no more than $12,000. Per IRS Tax Code Title 29 and Publication 950, effective January 1, 2006, any one person can give/receive up to $12,000 within 1 calendar year tax free (per IRS guidelines)

Example: When Grandma gives her grandkids $1000 cash as a graduation gift, or when you open a birthday card to reveal some money.....Also common at weddings! This is Cash gifting!

So How Does it Work?

Generally you will need to join a program where you can gift another person to join. Many also require some sort of membership fee. Since there are many programs, most of which typically fail out there, you want to find one with a great system in place to make sure everyone wins. This costs money, so expect some sort of fee.

As you become a member, you will qualify to receive cash gifts from others who enroll under you.

How Do I Join a Program?

First, most programs will need you to cash gift someone in order to enroll. This can be anywhere from $1 to $20,000. All have their advantages.

You will need an enrollment number, reference, code or member ID number. An honest cash gifting will be stern about this (a side note: NEVER join a program that will just let you join without a code or reference # Why? Because that means they do not protect their members! If they don't protect you, then they can STEAL your enrollments!) Also, expect to pay a fee to the company or person(s) that monitors it. (Most programs will require a monthly fee of $50.00 or less, which will generate a member ID number and website for you at the time you register and will track all your payments as well as all cash gifts given and received from each individual)

Why Do some Cash Giving Programs Fail?

First of all, they did not have any idea how to properly set up a cash gifting program. If there is no system in place to keep track of payments, or no documents created and used to outline the transfer of cash gifts from one person to another (that also protect you legally), or no tested and proven system of marketing and advertising in place that actually worked, then the system would ultimately fail.

So WHAT is the Best Program?

One that WORKS! We know that seems obvious, but many do not work, or they will have you spending THOUSANDS with little or no results.

Depending on your starting budget, and how quick you need an income will determine the level of success. The slower programs can make you nearly just as much for less money upfront, only at a much slower pace (typically months compared to weeks).

Should I Borrow Money To Join a Gifting Program?

Believe it or not, most people join gifting programs out of desperation. One way or another they NEED money, and some need it quick. Many joined by borrowing money. Whether it was a second mortgage, asking friends drawing from a credit card or taking out a loan. The advantage to doing this, is you'll most likely take it more seriously since the money needs to be repaid. As long as you know the additional costs (the cost to have access to the website and back office, this is a viable option. Remember, you'll probably need the loan at least 90 days, so avoid asking someone for a 2 week or even month long loan.

Copyright (c) 2008 Ronnie Navasca

Article Source: http://www.lifeweightloss.com

Ronnie Navasca is a successful internet marketer and home-based business owner. Since 2004, Ronnie has overpowered the art of internet marketing by learning through his mistakes and by promoting numerous misguided business opportunities in the past. He is also an active member of a cash gifting program, The Overnight Cash System.

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