Senator
Thinks s/he gets paid by the post
As I go through my taxes, I realize there are a ton of tax breaks for families. Child care Tax credits, children as dependents, adoption credits, head of household, etc.
If a person was to adopt a child in an underdeveloped country, and pay the birth mother to raise it, could there be a financial windfall from a tax savings standpoint? Forget about any ethics, this is a simple question about tax savings, no different than a company doing an inversion.
Some stipend could be sent to the mother to help raise the child, and the sender would get the tax write-offs. They would never have to see the kid, and if it became more expensive than the tax credits and deductions, they could give the kid back.
I know that even $5 a day is a lot of money for some families in third world countries. Sending $1,000 a year to the mother might be well worth the tax savings. Multiple kids with the same mother could possibly be worth even more as you would have a volume savings.
https://turbotax.intuit.com/tax-too...ons-and-Deductions-for-Families/INF12053.html
Could this actually work?
If a person was to adopt a child in an underdeveloped country, and pay the birth mother to raise it, could there be a financial windfall from a tax savings standpoint? Forget about any ethics, this is a simple question about tax savings, no different than a company doing an inversion.
Some stipend could be sent to the mother to help raise the child, and the sender would get the tax write-offs. They would never have to see the kid, and if it became more expensive than the tax credits and deductions, they could give the kid back.
I know that even $5 a day is a lot of money for some families in third world countries. Sending $1,000 a year to the mother might be well worth the tax savings. Multiple kids with the same mother could possibly be worth even more as you would have a volume savings.
https://turbotax.intuit.com/tax-too...ons-and-Deductions-for-Families/INF12053.html
Could this actually work?