Legal side of Gifting!
The concept of private gifting is based upon the fact that both American and Canadian citizens have the Constitutional right to gift property, cash and other assets, and are subject to the rules and regulations established by the laws. The U.S. gifting rules are found in the IRS Tax Code, Title 26, Sections 2501-2504 and 2511.
The law states that one or more individuals can give a gift to another individual of up to $11,000 each per calendar year without any tax liability to either the giver or receiver of the gift, because the tax on the gift has already been paid. These gifts are not included in the gross income of the recipient.
Cash gifting is taking the world by storm, everywhere you turn on the internet it's there:
· Blogging
· Videos
· Articles
· You name it, it's there!
My reason for getting on board was to create a better place for my family and my situation that's it!
My second reason was to give back and help people on the way. Giving is something I love to do…always. Most people who know me would agree.
In these times of gas prices soaring, airplanes going out of business and the big corporate companies are looking a little shaky. It not hard to figure out we need another outlet to fall back on.
There are many Cash Gifting Systems out there, do your homework call, write, e-mail, skype but find the system you are comfortable with and go from there.
Cash Gifting has been around for a very long time…the choice is yours!
If you want to know more about it contact me:
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