Knowing more about cash gifting

Cash gifting is a term that is often confused by others who think about it as another `get rich quick’ scheme. This is absolutely wrong and the reasons why people think like this is because they are ill educated abut this scheme. Thanks to the proliferation of the net, there are many schemes that permit you to make your relatives and friends rich by investing a small amount of money into the program. If you are unfamiliar of such schemes and if you happen to come across one of them, you will be led to believe that you can make both yourself and your friends and relatives to be rich by investing a paltry sum of seed money. These schemes promise to shower you and your buddy’s filthy rich within a short span of time and demonstrate how easy it is to collect wealth.

Most such organizations take the help of professional copywriters who write carefully worded ambition schemes that will make you a part with your hard earned money without even knowing that you are being ripped off. If only you spend some time to ponder, you will end up wiser. Nobody conducts business on the internet unless they are making some money out of the same and this is not cash gifting. They are not giving any cash to the person down to your chain in the pyramid scheme. In fact they are fleecing both you and them for the money. By the time you notice the uselessness of such schemes, you’d have already pulled your friends and relatives to join the same scheme too as a part of your chain and they too would have convinced their friends and relatives in the same way.

While you all are parting with your hard earned money with a dream of getting rich quickly, it is the originator of such schemes who are laughing their way to their bank with your money. There is no reason why you should waste your time and money over these schemes in order to make your close ones rich. If you have the money, the best way to pass it on to your loved ones legally is via cash gifting. This provides you with a legal way to gift them your money and is within the scopes of the law. If you have some excess money and want to provide a part of the same to some charity organization, you can always repair to cash gifting.

This way you are gifting a fixed amount of money to someone you know and are surely that the other person or organization will actually receive the money you intended for them. There is nothing wrong in cash gifting whereby you are willingly gifting away a certain amount of your money to someone else. By cash gifting your money to the other person you forfeit all right to that sum of cash and you can gift any individual up to $11,000 per year without bothering about any tax liability. Since you are giving money from your personal asset, cash gifting is 100% legal.