Free Financial Today

I can come up with so many more than ten reasons why you should not ever get involved in cash gifting. However, I will refrain, and only provide you with ten of the most compelling reasons.

1. Cash gifting is a sibling of the pyramid scheme. As you probably know, several of people have gone to jail due to their involvement in pyramid schemes. This is even the case for those who have lost their money.

2. You are expected to trust sending hundreds, if not thousands of dollars to a stranger who you will never get a refund from.

3. You will have a difficult time convincing other strangers to send money to a stranger (ie. YOU).

4. The administrators generally hide behind a pseudonym, never making their true identity know. People do this when they do not want to be found or caught. Such behavior indicates a fraud.

5. If you send or receive cash in an envelope to or from a different country, you might be flagged by customs or border security. (This HAS happened!)

6. Online business is something to be proud of. There should be no reason to hide anything. Cash gifting involves taking from Peter to pay Paul. Furthermore, you should never have to pay someone money before you can make money.

7. The early indication from the existing case law and statutes is that cash gifting is illegal. People try to claim the legality of cash gifting by stating a specific section of the tax code. However, the scope of the tax code is not to determine the legality or lack thereof of a transaction. Rather, the scope of the tax code is to determine whether monetary transactions are taxable or not, irrespective of their legality. I have actually heard these words come out of the mouth of an IRS agent.

8. Dealing with cash sent via courier is very time consuming, and severely handicaps your ability to truly make money.

9. Much of the time these cash gifting programs really key in on how lazy people are. They tell you that you just have to place a few ads where they tell you to, and their team leaders will “close the sale” for you. What they are trying to convince you is that these team leaders will tell the sender of the “gift” to send it to you. The reality is that they will take you lead and have the sender of the “gift” send it to them. These people are immoral, what else would you expect?

10. Here is an oldie but goodie. If it looks too good to be true, it probably is.

While I could probably give you a hundred reasons why cash gifting is not how to make money, I promised that my list would not be exhaustive, so I will keep it short. I am sure that you get the picture.

Do not be tempted by the false claims of Cash Gifting. These Cash Gifting Programs are a waste of time and money. Do not be victimized.