Taxes

Um, OK, so apparently you can claim foster children on your taxes if they live with you more than 6 months of the year.

I HAD NO IDEA! HOW DUMB AM I? We have to be talking some substantial money here, what with three kids and all. I mean I don't know. I have no clue about claiming kids, because I have never done it before. People always talk about getting all kinds of money because of claiming their kids though.

In 2010 two of the boys were with us longer than 6 months, and C was with us exactly 6 months. We had to pay a penalty because we didn't pay enough throughout the year. Plus we had to pay several thousand dollars at tax time. We also didn't claim the boys...and now I find out that we could have! How dumb am I? That could have saved us at least some of that money.

So I am looking into amending our 2010 return. And thankfully I haven't done 2011 yet. Sheesh.

And also, I hate taxes. I mean, as someone who used to work in taxes I feel like I have a better grasp than the average person does. But still I missed this huge deduction! I am an idiot! And if I can't get it after working for 2 years in a TAX DEPARTMENT of a large company, than how the heck is the average person supposed to get it? UGH!

OK rant over.

Toddler Tidbit: Bio mom bought the little boys some new shoes yesterday. Today C told me, "My mom didn't let me get the Buzz Lightyear shoes! That was mean!" Then he nearly had a conniption because Y had Nike shoes, and he had Reebok shoes. Just what we need, a 3 year old discouraged about what freaking brand his shoes are. Cripes!

Comments

  1. So A, I'm so excited to see how my post influenced someone else's post, then someone else's. I feel so helpful.

    Two, give yourself a break on it - I only knew about it because when we were considering adoption we sat down with friends of ours who adopted and they explained to us everything they knew which among other things included tax advantages. I'm guessing you probably didn't come across too many foster care deduction situations in the large company you worked for. I know we don't see that here everyday :)

    ReplyDelete
  2. You forgot to tell your faithful readers that bio mom was awesome enough to get our 3 y/o shoes with LACES. Something ever 3 y/o needs. Especially ones who still can't go a whole month of visits without pooping their pants.

    ReplyDelete
  3. Just so you don't get too disappointed- if someone else claimed them on THEIR taxes for 2010 then you won't get anything back. To avoid such a situation for this year, I'd submit your taxes asap-I'm pretty sure it's first come first serve! (maybe where mom got her money from suddently?) Just some thoughts, that's all!

    ReplyDelete
    Replies
    1. I think that if she (or anybody else besides us) claimed them it would be tax fraud. So I think it might take longer, but we would still get our money back because we had a right to claim them and nobody else did. Also, she doesn't have a job and to my knowledge has never had one since the boys have been in foster care and maybe not even before that. I'm not sure if people without jobs have to file taxes or not...I've never been in that situation since I was old enough to work!

      Delete
  4. Hello, I don't have anything to add regarding the tax situation, but I just wanted to say HI! I'm you new member #49. In the last week I have read your entire blog. I feel like we are living the same life! I am not able to have children and my husband and I are first time foster parents with our first placement of a 6 year old girl. We are her fifth home in 2 years. We just found out last night that at the end of the month, there is a court hearing to finally terminate parental rights. We are pretty sure that we will adopt her. I'm happy for us and very sad for her. She is the youngest of seven, they are all placed in seperate FC homes due to abuse amongst the children. Anyway, your household and those sweet children are in my prayers!

    ReplyDelete
    Replies
    1. Thank you so much for your prayers - we need it for sure. Sounds like you have your hands full with yours - what a sad story for your little girl but it sounds like it will have a happy ending!

      Delete

Post a Comment

Popular posts from this blog

Well, here we are again

Glasses!

Bio mom