Why I Chose "Cash Gifting" for TIBS CLUB |
TIBS CLUB uses something simple and legal, "giving and receiving," to help members. |
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Without ever knowing about cash gifting programs, I went to the source that I do know, the Bible, which states: "Give and it shall be given onto you . . ." and, "I came that they may have life . . . more abundantly." I also know that to qualify as a business, you have to be engaged in selling a product or providing a service. However, cash gifting has no product or service and is not a business, but has its legality, rather, as a method of giving a gift from one's estate (whatever that may be, that he or she has in money or assets), without expecting anything in return. To mean, not expecting a product or service of any kind or any return from the person to whom the gift is given, up to whatever the IRS amount is currently allowable (now at the maximum of $14,000.00) per individual per year from a single giver, that is not taxable, being that such gift was already taxed upon the giver before it became a gift. |