What Is Privatized Gifting?
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Private gifting is an activity embraced by multiple private parties and which has been in existence, though shrouded in mystery, for many years. This private activity is not a business and it does not involve network marketing, multi-level marketing (MLM) or any other commercial activity. There is no business, directory or company name as well as no officers, CEO’s, shareholders or principals. There is no business transactions, investments or securities involved in this as well either.
It is simply individuals supporting each other in a team concept based around the idea of finding and helping people.
Private gifting is based on the sovereignty of both American and Canadian citizens exorcising their Constitutional right to gift property, cash or other assets, in subject to the rules and regulations established by the laws. The U.S. gifting rules are found in the IRS Tax Code, Title 26, Sections 2501-2504 and 2511, and Canadian Tax Code, Sections 143.3 and 62.0.
Within the codes you will find that it states that one or more individuals can give a monetary gift to another individual of up to $12,000 per individual per calendar year without any tax liability to either the gifter or receiver of the gift. The tax on the gift has already been paid and it should be noted that these gifts are not included in the gross income of the recipient.
By Marlon Hall
706-973-9956
It is simply individuals supporting each other in a team concept based around the idea of finding and helping people.
Private gifting is based on the sovereignty of both American and Canadian citizens exorcising their Constitutional right to gift property, cash or other assets, in subject to the rules and regulations established by the laws. The U.S. gifting rules are found in the IRS Tax Code, Title 26, Sections 2501-2504 and 2511, and Canadian Tax Code, Sections 143.3 and 62.0.
Within the codes you will find that it states that one or more individuals can give a monetary gift to another individual of up to $12,000 per individual per calendar year without any tax liability to either the gifter or receiver of the gift. The tax on the gift has already been paid and it should be noted that these gifts are not included in the gross income of the recipient.
By Marlon Hall
706-973-9956