Thursday, March 20, 2008
Before I joined. Part 2
Wednesday, March 19, 2008
Before I joined.....
Tuesday, March 18, 2008
Cash gifting is a powerful force of nature!
It is a very simple way to gain financial freedom.
Saturday, March 15, 2008
A Busy Day With Cash Gifting
What is Cash Gifting?
What is Private Gifting?
The concept of private gifting is based upon the fact that both American and Canadian citizens have the Constitutional right to gift property, cash and other assets, and are 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.
The law states that one or more individuals can give a gift to another individual of up to $12,000 each per calendar year without any tax liability to either the giver or receiver of the gift, because the tax on the gift has already been paid. These gifts are not included in the gross income of the recipient.