Is Cash Gifting Legal?

Cash gifting is a perfecting legal entity. At its edifice lies the basic principle that it is relationship driven. As concept cash gifting has been in vogue for quite a long time and has been patronized by private group of individuals. Cash gifting does not involve network marketing, entering into a business or a commercial activity or being a part of the multi-level marketing. Cash gifting is based upon the fact that both the American and the Canadian citizens have been given the rights by their respective constitutions to gift property, cash, and other assets and are governed by rules and regulations established by laws.

Cash gifting has been dealt in detail in the IRS Tax Code. As per the provisions of the law one or more individual can give a gift to another individual of up to $11000 each in a calendar year. He need not pay any tax on cash gifting as well, either to the government or to the receiver of the gift as the tax on the gift has already been paid. Cash gifting came into vogue as an expression of kindness and has now evolved over the years. The proponents of the Internet have now adopted it and it has gained ground all over. In the earlier times the gift givers were those who were having surplus cash, and now the mentors, who pave the way for creating cash, have replaced them. So they are cash gifting mostly in kind, by paving the way for the person to chart out on the path to making money. There are instances where processes of cash gifting have been ripped of and somebody else's product has been passed on as somebody else's. But when it has been caught, the impersonator has faced serious rebuttal.

The present avatar of cash gifting is guided by the old maxim, "Give and it shall be given unto you". The process of cash gifting has a cycle and it passed from the giving to the receiving stage in a natural progression. Cash gifting as a process does not have a hierarchy and therefore it does not get involved in any legal processes. It is the activities associated with hierarchies that create problems. The cash gifting works through an online tracking system and has the tentacles that operate on a worldwide basis, riding on the nodes of the World Wide Web. It is based on the principle of faith in the humanity.