Is Cash Gifting Really All That Bad?

  Written by David Polanco on Mar 29, 2009 6:15 PM

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I see there are many for and against cash gifting. Mostly against it. 

A lot of opinions against cash gifting tend to be based on hearsay that’s been passed down over the years, and many, of course, are based on personal experiences. 

I am not involved in cash gifting, but I do agree that it may be perhaps, at best, a viable short term or temporary activity one can use to then transition into a business that one may feel more comfortable representing. 

I say that because nowadays one has to sign an agreement/contract to get involved in most cash gifting activities which may protect the promoters of it from prosecution. And opinions vary regarding the forms one signs to get involved. Especially that of the Non-Solicitation forms. A quick review by and consultation with an attorney should quell or raise concerns. 

However, I have yet to see any of the hard questions being asked and answered such as: 

How many have been indicted, convicted, and prosecuted since the inception of cash gifting? 

Did any of them sign or use a binding contract that would have stood up in a court before they were prosecuted? 

There have, no doubt, been many complaints to the FTC and other authorities regarding cash gifting, especially during the last few years since cash gifting has been spreading farther and wider via the internet. 

Has the FTC or FCC taken action on any of these complaints lately? During the last five years? 

What was the outcome and which were the companies and individuals involved? 

Has the IRS been involved?

There's a video that has been circulating around the internet about a question and answer session conducted with an experienced IRS representative.

Does Fed-Ex or any of the major courier companies used for this activity have an opinion? 

I’m sure the news about prosecutions would have spread far and wide by now with major media news reports featuring those arrested in high profile gifting activities. The same can be said of mlms and other business industries brought down for unscrupulous activities. 

I also believe that it tends to come down to morality and ethics principles to some who considered getting involved in it, since there are also those who may have “lost” money and were not successful for a variety of reasons.

With that said, if one resonates with what many perceive to be a very high risk involved in the participation of a cash gifting activity after performing the proper due diligence, then it might be best not to pursue it simply based on uncertainty about the outcome of the legal ramifications, be it positive or negative. 

Peace of mind should be ultimate goal.

David

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