- Sep 14, 2010
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This feels like it must be the dumbest thing I have ever asked anywhere, but yes, is there any way (other than getting a 2nd job and making more $$) to raise my tax liability?
The reason I would ask seems important in this situation.
My wife and I are foster parents, and it is looking like we will be adopting all 3 of our foster children in 2015. When you adopt from the foster system, you are able to take the entire available adoption tax credit, which means we will have a tax credit of about $40,000 to use over the course of 2015 through 2021. I do not current pay all that much in taxes (I work, and my wife is a stay-at-home mom with my biological kids and my foster children) so I will not be able to use $40,000 in tax credit over 6 years.
Thus my question: How can I raise my tax liability so that I use more of that $40,000?
The reason I would ask seems important in this situation.
My wife and I are foster parents, and it is looking like we will be adopting all 3 of our foster children in 2015. When you adopt from the foster system, you are able to take the entire available adoption tax credit, which means we will have a tax credit of about $40,000 to use over the course of 2015 through 2021. I do not current pay all that much in taxes (I work, and my wife is a stay-at-home mom with my biological kids and my foster children) so I will not be able to use $40,000 in tax credit over 6 years.
Thus my question: How can I raise my tax liability so that I use more of that $40,000?