The concept of private gifting is based on the fact that both American & Canadian citizens have the Constitutional right to gift property, cash and other assets, and are subject to rules and regulations established by the law. 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 $12,000 each per calender yr. without any tax liability to either the giver or receiver of the gift, because the tax is on the gift has already been paid.
WHAT ABOUT MY TAXES?
We cannot and will not give any tax advice. Please handle this as you see fit. Consult a Tax Accountant if you need more information.
WHERE DOES THIS IDEA COME FROM?
Giving private gifts to one another is an expression of kindness, which has been going on for centuries. Governments have allowed its practice for individuals to share their wealth with families, friends and others. It has been a means of helping and blessing others on special occasions or when the need arises.
Many cultures gift as a matter of course. Asian, Jewish and South American communities gift individuals within their culture on a regular basis so that they may start a business or buy a home. They in turn gift someone else to help enhance their lives. Habitat for Humanity is a great example of private gifting. Everyone participates with their time, their talents and materials to build a home for someone else. Some participate with a hammer, some with nails, some with food and others with the monetary gifts to purchase the supplies, but all create a team that works together to bless someone's life.
WHAT DOES IT COSTS TO GET STARTED?The Level you choose to join The People's Program is your own personal choice. The Level you choose is the amount of gift you will send your "Inviter" You may "upgrade" to higher levels at any time by gifting the difference, and that is sent to the next in line qualifying inviter.
There is a $50 ONE TIME processing fee that is paid to the Processing Center for your own "Members Area/Training System" that takes care of your member tracking so you don't have to! That is the only mandatory fee you have to pay.