Families Like Ours, Inc (FLO) is a nonprofit 501(c)(3) Adoption Exchange, helping pre & post adoptive families, GLBT and non GLBT alike since October 2000 through our network of adoption resources, support, education and advocacy.

helping hand for . . .

  • Adoptive & Foster Families
  • Case Workers, Agencies & more

 

Families Like Ours, Inc (FLO) is a nonprofit 501(c)(3) Adoption Exchange, helping pre & post adoptive families, GLBT and non GLBT alike since October 2000 through our network of adoption resources, support, education and advocacy.

Families Like Ours, Inc (FLO) is a nonprofit 501(c)(3) Adoption Exchange, helping pre & post adoptive families, GLBT and non GLBT alike since October 2000 through our network of adoption resources, support, education and advocacy.

Family & Financial Planning

2008 Foster & Adoptive family federal tax credits

Posted Tue, 01/20/2009 - 18:56 by Anonymous

It is that time of year again to start thinking about taxes. If you have not already, you will soon be receiving W-2's and 1099's in the mail to complete your 2008 taxes. Don't forget that as a foster and adoptive family there are important tax credits for you federally, and possibly in your local state too. For 2008, the maximum adoption credit has increased to $11,650. There are two ways to claim this, one is per child, for the adoption of a special needs child formally in the foster care system; the second is a one time credit per adoption or attempt for domestic, private and international adoptions. The National Foster Parent Association has published and released their 2008 Tax Guide, you will find the PDF attached to this BLOG post. Make sure you also read Federal Tax Credits and Benefits resource.

Adoption Benefits Increased

Posted Fri, 01/09/2009 - 22:42 by FLO ED

 

2008 Federal Adoption Tax Credit

For 2008, the maximum adoption credit has increased to $11,650. Also, the maximum exclusion from income for benefits under your employer's adoption assistance program has increased to $11,650. These amounts are phased out if your modified adjusted gross income (MAGI) is between $174,730 and $214,730. You cannot claim the credit or exclusion if your MAGI is $214,730 or more.

http://www.irs.gov/formspubs/article/0,,id=177982,00.html

 

Also look at the Families Like Ours resource guide on this subject.

Raising Financially Responsible Kids ...

Posted Thu, 01/01/2009 - 19:20 by FLO ED

Really good article in the January issue of Seattle Child Magazine. It has some good tips from experts for families and kids ...

Tips from the experts .... 4. Teach Kids That There Are Six Things to Do with Money ... 5. Teach Kids That There are Many Things They Can Live Without .... When it comes to teaching kids about money, Seattle-based Moonjar has proven that simple is best.

Click here to read the full article and tips

Recommended Books

See the full book list

Parenting Tool


Defiant Child Behavior problems

Shop FLO

Adoption Bear!

Get yours today and help a kid find a forever family. Visit our online gift store for a full line of family clothing, adoption gifts, and much more

Syndicate content