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Cash gifting???

Discussion in 'Making Money' started by kennyhoc3, Mar 24, 2011.

  1. kennyhoc3

    kennyhoc3 Junior Member

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    Anyone ever done this? And before I get a bunch of posts like SCAM!!! and Illegal!!! and all the other unwanted posts I want someone who KNOWS WTF they are talking about lol

    after seeing this video http://www.youtube.com/watch?v=7B4LR9eFB6Y
    and reading the tax law document http://www.irs.gov/pub/irs-pdf/p950.pdf?source=ttcom4home1

    It seems no worse then any other black hat method used for making money? nothing stating its illegal kind of like how there is no low stating you HAVE to pay taxes lol even though the gov could come and put you in jail for no reason and call you a terrorist or some shit and the rest of the world would probably believe it haha

    but I can see how alot of these can turn into a scam or ponzy/pyramid scheme...
    but what about the ones that have been around since 2008 or longer?

    With some good seo work and local marketing there could be some good cash made as long as its all done legally and legit? like the ones who have been around for a while?

    Your thought??? lol
     
  2. teeniegenie

    teeniegenie Supreme Member

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    I'm a gift tax attorney in the U.S., so let me lay out how this all works.

    In 2011 a U.S. citizen can actually give up to $13,000 to anyone else in the world without having to file a gift tax return. The $13,000 limit is called the "Annual Exclusion" amount. You can give up to the Annual Exclusion to an unlimited number of people in the world. For example, I could give every single registered member here on BHW $13,000 cash EACH without any questions asked by the IRS. The Annual Exclusion amount increases every so often as the dollar amount is tied to inflation. The Annual Exclusion limit will remain at $13,000 for at least the rest of 2011.

    As soon as I give any one individual $13,001 or more I am required to file a gift tax return (IRS Form 709). NOTICE I DIDN'T SAY YOU HAVE TO PAY GIFT TAX - JUST FILE THE GIFT TAX RETURN. The IRS also currently allows you to give up to $5,000,000 during your lifetime without having to pay gift taxes. The $5,000,000 is called the "Lifetime Exclusion" amount. The current $5,000,000 lifetime exclusion is in effect for 2011 and 2012. After that Congress will either have to extend the current laws or the law will automatically reduce the Lifetime Exclusion to $1,000,000.

    For every dollar I give over $13,000 the Lifetime Exclusion is reduced dollar for dollar. For example, if I give my next door neighbor $30,000, the first $13,000 is given without any problems. I have to file a gift tax return because I gave one individual more than $13,000 and my $5,000,000 Lifetime Exclusion amount is reduced down to $4,983,000 ($5,000,000 - $17,000). After I've given more than $5,000,000 during my lifetime I then start paying gift taxes on all gifts made.

    Make sense?

    Now, to the OP's post - I'm unclear how this has ANYTHING to do with IM or "black hat" techniques. If all of you here want to give me up to $13,000 this year, I'll be more than happy to call it "black hat" - LOL.

    OP: please explain the idea behind your whole post for me...

    Word.
     
    • Thanks Thanks x 2
    Last edited: Mar 24, 2011
  3. Moto801

    Moto801 Senior Member

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    Of course cash gifting can work.

    It's all about sales and marketing. If you can convince someone to give you a cash gift, then it will work. But this is where the most people struggle with it... marketing it correctly.

    I also believe that cash gifting is not allowed to be discussed here if I'm not mistaken.
     
  4. kennyhoc3

    kennyhoc3 Junior Member

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    First Thanks for all the wonderful information! You rock!

    Well I just saw the relation between, getting people to sign up under you affiliate links and cpa offers and the cash gifting "method" and was wondering if anyone had any success with it? Like the program I found, they give you a website to pretty much find other people who want to get into the whole gifting thing with.

    so you push links and do SEO work on your site like you would a ad-sense site or blog and get gifted money =) lol idk just an idea

    Yeah I guess my original point to this thread was to see if anyones had success with cash gifting?

    and if its not allowed to be talked about here sorry! mods can delete/move it I guess =)
     
  5. teeniegenie

    teeniegenie Supreme Member

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    I still don't follow you. Affiliate marketing doesn't involve gifts. A publisher promotes a service/product for an advertiser and gets a commission when the publisher gets a third party to take a particular action the advertiser wants. Am I missing something?
     
  6. kennyhoc3

    kennyhoc3 Junior Member

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    Sorry I guess I just meant marketing and doing SEO in general. Like I get my cash gifting site, promote it and get people to send me gifts --- thats the relation I was talking about

    and was wondering if anyone has done this before? and if it was legit? but you covered the legit part of it =)
     
  7. teeniegenie

    teeniegenie Supreme Member

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    Yeah, gifting is legit under U.S. law - I have no idea what the deal is in other countries. If you can get people to "give" you money through a website (assuming you're not trying to scam them through some fake "Save Japan" or "Save the Children" kind of crap) then good for you! LOL...:)
     
  8. kennyhoc3

    kennyhoc3 Junior Member

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    If I were to attempt something as low as that, thad be the day I died and went to hell lmao

    but sweet guess I will have to give it a whirl =)
    Thanks teeniegenie! wish I could plus rep you but my account is weird, only see the rep sign for myself? lol
     
  9. teeniegenie

    teeniegenie Supreme Member

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    No problem - glad to hear you're not into scamming - :)

    As for your "rep problem" - read this:

    http://www.blackhatworld.com/blackh...question-about-how-rep-works.html#post2369814

    Thanks.
     
  10. kennyhoc3

    kennyhoc3 Junior Member

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  11. halifax123

    halifax123 Power Member

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    hey kenny,

    so how are you in your efforts so far?

    making any headway?

    hali~:)
     
  12. kennyhoc3

    kennyhoc3 Junior Member

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    Hi Halifax123,
    I actually Haven't started yet lol I decided to Invest in my websites first and when I have a little extra cash I'm going to try this =)
    Ill update this thread when I do start though!

    Ken
     
  13. halifax123

    halifax123 Power Member

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    hey kenny,

    any progress yet?

    Hali~!:)
     
  14. kennyhoc3

    kennyhoc3 Junior Member

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    Hello,

    Not yet =/ I don't make money fast enough haha I need to find one that I can invest like $20-$100 lol
     
  15. halifax123

    halifax123 Power Member

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    Hey Kenny :)

    in other words you're looking for one with a very modest initial investment?

    thanks for replying BTW :)

    Hali~!:)

     
  16. kennyhoc3

    kennyhoc3 Junior Member

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    Yeah basically =) All the ones I have seen are from $200-500 at the lowest lol and Id rather spend that money on my websites i already have rather then just joining a "game" and spending more money to promote that lol

    and no problem! Glad I saw you had posted on here :p