Is cash gifting legal?

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  #1  
Old 09-03-08, 11:01 PM
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Is cash gifting legal?

I believe in gifting cash and some friends have invited me into a community which works on the principle of gift it forward. How can I know that this network concept is permitted by law and gaining prosperity via this medium is legal?
 
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  #2  
Old 09-04-08, 12:17 AM
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Consult with our accountant. If a researcher, you can can consult accounting laws re: IRS and your tax reporting.

Why are you asking this question in Green Landscaping & Gardening?
 
  #3  
Old 09-04-08, 04:33 AM
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Hang on to your wallet

Sounds like you are describing some sort of ponzi scheme. Some reading:

http://en.wikipedia.org/wiki/Ponzi_scheme

Moved the thread to general chats.
 
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Old 09-04-08, 02:21 PM
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Good, I was going to give him my address to mail the cash. I'd hold it for him. That way there would be no tax burden on his part. Sound good??? .
 
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Old 09-05-08, 12:31 AM
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I too believe in being gifted cash.
 
  #6  
Old 09-05-08, 02:22 AM
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Somehow I'm guessing the plan calls for "gifting" the cash to someone on a list and adding your name to the bottom of the list, blah, blah, blah; but I'll accept any incoming "gifts". Anything up to $10,000 would be okay before my accountant would have to get involved.
 
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Old 09-05-08, 04:55 AM
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Yeah, it sounds like an Egyptian plan.....you know pyramids and all. You can bet if I found a way to get rich quick, you'd never hear of it. I wouldn't be a "send me your money and I'll make you rich" person. How can you get rich sending your money to someone else???? Only they get rich.
 
  #8  
Old 09-05-08, 06:29 AM
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I think the easiest way to be gifted cash is just to find a Nigerian banker who has some extra cash in a dormant account...lol
 
  #9  
Old 09-05-08, 10:05 AM
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Oooo, oooo; I got one of those emails today. I hope I didn't delete it!!!
 
  #10  
Old 09-05-08, 12:37 PM
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My wife could be rich by now. She gets 10 or 15 of them a day. She must have bought something online and the vendor sold her email. But all the senders guarantee at least $400,000 is ours for the taking if we just give them our social security numbers. Imagine it being that simple!
 
  #11  
Old 09-05-08, 05:16 PM
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chandler you got a good deal, mine all need $10K surety bond and my account numbers, as well as my SSN...lol

Maybe it would be ok if I signed up for Life-Lock first? Lol
 
  #12  
Old 09-06-08, 12:13 AM
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I like the idea of paying it forward as long as it doesn't involve cash.
 
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Old 09-08-08, 03:59 PM
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Isn't it kinda funny that if Social Security was a private enterprise, it would be illegal. It si the only legal Ponzi scheme I have ever heard of.
 
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