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Extra Funding to Pay for Child Adoption Services

So, you’ve decided you want to adopt a child, but you’ve realized it’s not going to be a very cheap option for the family. Figuring out how to pay for child adoption services can be stressful and difficult. To help figure out how much you can expect to pay for child adoption services, and the best financial solutions, such as:

  • Grants
  • Government assistance
  • Fundraising
  • Loans
  • Employee benefits
  • And more!

But when considering loans, we recommend title loans. With title loans, you may receive emergency cash that is fast and easy to get, especially if you apply for a title loans1. But before we talk about title loans, let’s talk about the cost of child adoption services.

How Much Are Child Adoption Services?

The cost of child adoptions services will all depend on different factors:

  • If you adopt through a domestic agency, independent adoption, international adoption professional, or foster care
  • What type of variable adoption expenses (medical, legal, living) to complete
  • What type of professional you go through and how they structure their cost

On average, whether you go to a private agent or adoption agency, child adoption services are usually around $40,000 but can range anywhere from $20,000 to $80,000 or more.

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When you adopt a child from a foster home, it tends to be significantly cheaper than a newborn because of the age and care difference between the kids. Foster adoptions, on average, cost about $2,000 to $5,000.

Costs for Child Adoption Services

When you are adopting a child, you do not pay for the child – kids aren’t a monetary item. You are actually paying for the different services and components that come with adopting a child. Each adoption services break down will vary based on the type of adoption, as well as the country you are adopting from.

Newborn Adoptions in US

When adopting a newborn, your expenses include:

  • Home study fee
  • Document preparation and authentication
  • Adoption agency application and program fees
  • Adoption consultation fees
  • Attorney fees
  • Advertising and networking
  • Birth family counseling
  • Birth mother expenses
  • Foster care
  • Travel expenses
  • Post-placement expenses

Foster Adoptions in US

Because of the abundance of children in foster care systems, there is less advertising and networking that needs to be done to find a child for your family. There are also less expenses paid towards the birth family and mother since the child has past that stage. Foster adoption services include:

  • Home study fee
  • Document preparation and paperwork fees
  • Attorney fees
  • Travel expenses

International Adoption

Most of the same fees and charges that happen with a newborn or foster adoption also are included in the overall cost of an international adoption. The additions to the list are typically:

  • In-country expenses
  • Child passport, visa, medical exam, and other expenses

In China, part of the in-country expenses is a required donation to the CCWA (China Center for Children’s Welfare and Adoption).

How to Pay for Child Adoption Services

It might seem like a lot of money to adopt a child, but there are many different solutions and resources available to help you pay for your child adoption services.

Grants and Government Benefits

The first revenue you should try to get money from is by applying for a grant. Some grants can get you up to $15,000 towards your child adoption. There are many different grant programs out there that help people specifically with child adoption services:

  • Gift of Adoption Fund
  • Help Us Adopt
  • National Adoption Fund

The government also offers different benefits for adoption. They offer two major tax adoption benefits: Federal Adoption Tax Credit and Income Inclusion. This allows you to have a maximum tax credit up to $13,570 (2017) for eligible adoption expenses. It can help you with agency and attorney fees, travel, and accommodations. Make sure to consult with your accountant or the IRS to learn more information.

Another government benefit is the state subsidiaries. States will grant subsidiaries to families who are adopted children born in the US with special needs or have been in the foster care system for a specific amount of time. Depending on the state you live in, some counties may vary from state subsidiaries.

Agency Benefits

Before you choose the agency you’ll use to help in your adoption process, make sure you compare them with others to see what extra fees they may require. Some agencies require a flat fee for all the expenses that come with child adoption, while others will offer the Sliding Scale Fees. This allows your fees to be structured based on your personal finances, which could potentially save you a lot of money.

Another benefit to look out for in agencies is the Placement Fee Deposit. Some agencies will require you to make a deposit on a child placement fee, even when the child hasn’t been placed yet. There are agencies that do not require this deposit.

Fundraising

Personal expenses fundraising has become the newest way to pay for emergency or important bills that we cannot make by ourselves. With crowdfunding on sites like GoFundMe and Give, it gives the option for you to ask family, friends, and even strangers through your own connections for monetary donations. Some sites allow you to monitor your progress through photos, videos, and charts to update your donors.

If you prefer to sell items to help raise money, you’ll have to think big and strategically. You might also have to realize that it takes a lot of work to raise thousands of dollars when using items to assist in fundraising, but if you know someone good at marketing and crafty, you could be in luck. Regardless, a little fundraising can help with some of the smaller fees and costs.

Other Resources

A very common resource to help with child adoption services is to take out loans. You can check with your bank and other banking institutions to see what they’ll be able to offer you, or you can check with some companies that offer loans specifically for child adoption services. Some companies include:

  • A Child Waits
  • Pathways for Little Feet

Your employer may also offer an Employee Benefit Program that could help you cover the costs of a child adoption. They might offer financial reimbursements for adoption fees and paid leave vacation time for travel/parental leave. Most companies won’t advertise these benefits, but it doesn’t hurt to check with your employer.

When in need of additional funding to pay for adoption services, title loans may be a favorable option. Car title loans can be a great way to get essential funding without all the hassles that can come with traditional lenders.

One of the best things about car title loans is that they may be fast and efficient1. You could even receive your car title loan funding as soon as the next business day3!

Check out our application and see how you can use emergency money from title loans to pay for adoption services!

How Much is Childcare Per Month?

That depends. There are several factors that contribute to the cost of childcare:

  • The age of your children
  • The type of childcare
  • Where you live

How Does the Age of My Children Affect the Cost Of Childcare?

The more hands-on care your children need, the more expensive childcare will be. This means that programs or sitters for infants and toddlers are normally the most expensive. Some people have reported paying $2,000 dollars a month for infant care, nearly $25,000 a year, in cities like San Francisco or Boston. In the United States, the average cost for sending your child to a day care facility is $972 per month. Once they are preschool-age, the cost drops to $733 a year.

How Much Does Each Type of Childcare Cost?

While the costs of each type of childcare will vary from place to place, the national averages, per week, look something like:

(Note that the first number is for a single child and the second number is for two children)

  • Nanny – $477/$488
  • Day Care Center – $188/$341
  • Family Day Care – $140/$267
  • Au Pair – $360/$360
  • Family Member – Potentially $0

Those costs on their own don’t necessarily tell you what you’re getting for your money, so it’s important to have an in-depth understanding of what each option provides

What Are the Different Types of Childcare?

  • Nanny – A nanny is different from a babysitter in a number of important respects. A babysitter is someone who watches children intermittently and is mostly responsible for direct childcare, feeding and playing with the children, putting them to bed, etc. A nanny is responsible for the mental, emotional, and physical well-being of the children under their care. Normally, in addition to the duties of a babysitter, they do things like dishes, laundry, general meal prep, transporting children to activities. They are involved in the daily lives of the family they work for to a much greater degree.
  • Day Care Center – A day care center offers one major advantage over most nanny or au pairs, the opportunity to socialize with other children. This may not be as important when children are younger, but will grow in importance as they age. Depending on the center they may have a school-like environment. They also tend to be the most economical option.
  • Family Day Care – This is similar to a day care center, but is often operated out of a home. They are typically smaller than day care centers and usually have a feel more akin to a home and less of a school.
  • Au Pair – An au pair is like a live-in nanny. Typically, they are young people from other countries participating in a program that places them with families in need of childcare. In exchange for room, board, and a small wage they provide full-time childcare. Unlike many nannying and babysitting agencies, au pair placement agencies are overseen by the U.S. State Department.

How Does Where I Live Affect the Cost of Childcare?

As with most things, the cost of childcare is more expensive in larger, expensive cities, New York or San Francisco for example. Availability may also impact the cost. If you are living somewhere with only a few childcare options, they may be more expensive.

What Are Some Ways to Pay for Childcare?

There are a number of ways you can offset the cost of childcare:

  • Nannyshare – Families that are nannysharing split the cost of hiring one nanny to watch two families’ worth of children. The exact details of the arrangement will vary, but essentially, the nanny watches both sets of children at one family or the other’s house.
  • Reducing Expenses – Do you buy lunch at work every day? What about coffee? If you can save $10 each weekday, that’s $200 a month, which can be the cost for a full week at a day care center.
  • Take a Part-Time Job – This may seem counter-intuitive. Won’t you need childcare while you are at your part-time job? If you have access to free childcare in the form of a family member or friend, they may be able to watch your child while you work. If you work ten hours at $10 an hour, that’s about $70 a week after taxes, almost $300 a month.
  • Have One Parent Stay at Home – If this is an option, it may be the most economical. If one partner’s income is entirely devoted to paying for childcare, it may make more sense for them to stay at home. In addition to your child having access to at least one parent at all times, it may have positive implications on your tax bracket.

There are so many different options when it comes to childcare. Each type of childcare has a different monthly cost and provides a different type of service. If you start learning about them as early as possible, it can make selecting your childcare provider much less stressful.

What Vaccines Does My Child Need for School

The vaccines, and their costs that your child needs for school will vary by state and age. One of the most important events your child has to prepare for is starting kindergarten. Even if they have been socializing with other children before, they will likely be interacting with many new children, even if only in passing, and this can expose them to a host of new germs.

  • Diphtheria– An infection with flu-like symptoms caused by a bacterium.
  • Tetanus– Caused by a bacteria commonly found in soil, saliva, and dust. Also called lockjaw, the symptoms include muscle spasms and things like fever, sweating, trouble swallowing, etc.
  • Pertussis– Whooping Cough.
  • Hepatitis B– A virus that causes damage to the liver, characterized by things like yellowish skin.
  • Measles– A highly-contagious disease with flu-like symptoms and rash caused by a virus. Complications can be as severe as inflammation of the brain.
  • Mumps– A viral disease that usually involves swelling of the salivary glands. Complications include, among other things, meningitis and permanent deafness.
  • Rubella– German Measles
  • Polio– Caused by the poliovirus, it can cause muscle weakness that results in the inability to use the affected limb.
  • Varicella– Chickenpox
  • Hepatitis A– An infection of the liver that can lead to things like jaundice and liver failure.
  • Haemophilus Influenzae Type B– The symptoms mimic a viral infection, but the complications can include things like pneumonia or infectious arthritis.
  • Pneumococcal Disease– A bacteria that is the leading cause of community acquired pneumonia

That’s a lot of vaccines. And as you know, medical care doesn’t always come cheap. With title loans, you can get easy and fast cash. Before we talk about taking on a title loan for emergency cash, consider the real cost of vaccines out-of-pocket.

How Much Do Vaccines Cost for Kindergarten?

The average out-of-pocket cost for vaccinations during the first year of life is $242. That said, it’s estimated that the actual cost of vaccines for an infant’s first year cost at least $620. And you can expect to spend at least another $600 by the time they turn 18. Note that this cost includes the cost of both the vaccine and having it administered by a healthcare professional.

The good news is that most insurance companies cover the cost of baby immunizations recommended by the U.S. Center for Disease Control & Prevention. Unfortunately, some insurance companies do not cover immunizations, or only cover certain vaccines. For example, many plans do not cover the chickenpox vaccine. If your plan doesn’t cover a particular vaccine, you may be able to get a referral from you doctor and have the vaccine administered at a public health clinic or get a dose from another source and have your doctor administer it. Even with those options, it may be difficult to afford vaccines along with all the other costs associated with a young child.

How Can I Pay for Vaccines without Insurance?

You’ve got a number of different things you can do when it comes time to pay for vaccines for your young child:

  • Sell things you no longer use – Most people have at least a few things lying around their house that they no longer use. Try putting them on Craigslist or Ebay. After all, one person’s trash is another person’s treasure.
  • Get a part-time job – If you work ten hours a week at $10 an hour, that’s about $70 after taxes, or almost $300 a month.
  • Borrow money from friends or family – Your child’s health is important and is not a reoccurring expense. Because of this, you may be able to borrow money from friends or family at low or no interest.
  • Take out a secured loan – You may be able to cover the cost of your child’s vaccines with something like a payday loan. If you have a car with a clear-and-free title, you may even be able to get a car title loan1. You can typically get more money at a better rate because the loan is secured with your car title. Note that you will be able to drive your car just like normal while you have the loan as long as you make your monthly payments on time.

There are a lot of things to worry about when it comes to your children’s health. Figuring out how to pay for vaccines can be stressful, but it doesn’t have to be. Because vaccines are usually given on a schedule, it makes it easier to plan ahead and anticipate the cost. With that, you can figure out the best way to pay for the vaccines, even if you don’t have insurance.

When in need of additional funding for vaccines, title loans may be a favorable option. Car title loans can be a great way to get essential funding without all the hassles that can come with traditional lenders1.

One of the best things about car title loans is that they are fast and efficient. You could even receive your car title loan funding as soon as the next business day3!

Check out our application and see how you can use emergency money from a title loan to pay for vaccines!

How Old Does My Child Need to Be Before they Pay Taxes?

Unfortunately, whether or not your children need to pay taxes depends more on their income rather than their age. Until recently, the laws surrounding how children declared earned income vs. unearned income were sometimes difficult to untangle. The Tax Cuts and Jobs Act, which began in 2018, instituted some major changes in the way children’s income, assuming they are a dependent, is handled.

Note that you should consult a tax professional to understand the specifics of your situation if you are a child filing taxes or helping a child file taxes. Note also that the information in this article strictly refers to guidelines for federal taxes.

How Do I Figure Out How Much My Child Owes in Taxes?

In 2018, the standard deduction was increased to $12,000 for all single taxpayers. This includes dependent children. This deduction covers both earned and unearned income. This means children who earn under $12,000 are not required to file a return. Note that this does not apply to children who are business owners or self-employed. Children who own a business or are self-employed must file a tax return if their net income is $400 or more. Note that net income is all the money that came in that year, minus expenses.

This is a major change from previous years. In the past, children were exempt from filing taxes as long as their earned income, unearned income, and self-employed income were all below certain thresholds. If they exceeded any of those thresholds, they would have to file taxes.

Why Should My Child File a Tax Return, Even if they Don’t Have To?

If your child is an employee of a business, they likely took taxes out of their paycheck as a normal part of their accounting process. You may be able to recover some of that money if income tax was withheld or they qualify for:

  • Earned income credit
  • Additional child tax credit
  • Health coverage tax credit
  • American Opportunity education credit

What is My Child’s Income Tax Rate?

Children pay taxes on their earned income at the own individual tax rate, just like an adult who is a single taxpayer. This is true even if, under state law, their parent or guardian is entitled to and receives their income. Prior to the tax law revisions in 2018, children had their own separate income brackets.

If your child has unearned income, from a savings account for example, the tax rate for their net unearned income is the same as the tax rate for trusts and estates:

  • $2,100 to $2,550               10%
  • $2,551 to $9,150               24%
  • $9,151 to $12,500             35%
  • Over $12,501                    37%

Note that this applies to children under the age of 19 at the beginning of the tax year and full-time students under the age of 24 at the beginning of the tax year. This is a huge change from prior years, where children’s unearned income above a certain threshold was taxed at a special rate. Then, if it went above another threshold, it was taxed at the parents’ rate. This was to prevent people from avoiding paying taxes on unearned income by transferring ownership of certain assets to their children and taking advantage of their lower taxes.

Is My Child Eligible for Any Special Tax Deductions?

Your child might be eligible for certain deductions or tax credits, especially if they are a student. If they are currently a student, they may be eligible for:

  • American Opportunity: This is a tax credit of up to $2,500 for all four years of college. Single taxpayers with a MAGI, modified adjusted gross income, of under $80,000 are eligible. Married taxpayers filing jointly with a combined MAGI of $160,000 are eligible.
  • Lifetime Learning: Taxpayers who are not eligible for the American Opportunity tax credit may be eligible for the Lifetime Learning credit. This credit applies to things like tuition and mandatory fees in almost any post-secondary course. It applies to 20% of the first $10,000 eligible expenses, so a maximum of $2,000. The MAGI limit for single taxpayers is $60,000. The limit is $120,000 for married taxpayers filing jointly.
  • Student Loan Interest Deduction: Interest on loans for college or vocational school expenses may also be tax deductible. The normal limit is $2,500, but it gets smaller as taxpayers approach higher income brackets.

These are only some of the tax deductions and credits a child might qualify for, depending on their situation. For example, if they were a full-time student under 24, but were married or had a child of their own, they might qualify for any tax credits or deductions related to either being married or having a child.

Should I Ever Include My Child’s Income on My Own Tax Return?

Prior to 2018, there were certain instances where it made sense to include your child’s income on your own tax return. Since the law changed, there are fewer. Presently, it’s unlikely that you stand to gain much by including eligible income from your child on your own tax return. Well, other than not having to fill out a tax return for that child, which may be worth it.

Determining what your child needs to do come tax time can seem daunting. The tax law changes enacted in 2018 simplified things quite a bit, but not completely. While you now know the basics that you need to help your child file taxes, the easiest thing to do is still to consult with a tax professional. They will know the details of how the new laws affect your child’s income.

15 Family Oriented Features Your Car Should Have

Car safety is extremely important to drivers, and pedestrians alike. Car safety is extremely important for people with families, along with other things. When buying a car, considering your family size and comfortability in the space is necessary.

Rear Backup Camera

These cameras allow you to see behind you, and will beep to notify you that you are too close to something around you. So many lives can be saved if every car sold has a backup camera.

Collision prevention systems/Blind spot warning

This alarm system notifies you when you drift out of your own lane and when you are too close to a car in front of you. Newer cars have automatic braking, so your car will stop if you are too close to another car and prevent you from a collision. If you become distracted by your children or something going on outside of your vehicle, this a feature you need to have.

All-wheel drive/4 wheel drive

In places with a lot of snow, hills, or even mud, will require all-wheel drive. Bad road conditions can be really tricky and unsafe without all-wheel drive, do yourself a favor and make sure that your family vehicle has it.

Airbags

In the event of a collision, airbags are extremely important. They will help to reduce injuries. Air bags can be found in the steering wheel, on the sides (front and back) of the vehicle, and in the dashboard.

3rd row seat

Most families do not have 5 children a piece; however, children make friends, and you need space for all of them. This optional 3rd row will also give you the space you need for road trips and big grocery hauls, since that entire row can be tucked away.

Rear seat entertainment

A Blue ray/DVD system with multiple headphone jacks is a must when you are in a car with children for an extended period of time. Just be sure to pack the car full of different DVD options ahead of time, so that you won’t forget them.

Rear air/heat control

This is important to have, if you have children that are always cold, yet you’re always hot, the rear air/heat controls can be the answer to your problem. Your rear passengers can control where the air/heat is blowing, how much is blowing, and the temperature of cold/hot the air is being blown.

Infotainment system

A large monitor in your vehicle’s dashboard is essential to using your car’s GPS capabilities, playing music, and more. This system can include a CD player, auxiliary hook up, USB connection, and more.

Programmable keys

If you have a teenager or you have your grandparents living with you, this feature will be necessary. You can control who drives your car and when. This key will also help you control how fast the car can go, the volume of the radio, and even control which radio stations can be played.

Sunshades

It is much easier to take a nap without the sun beaming in your face. Also they come in handy for children who managed to roll the windows down, at least they won’t be completely exposed to the elements outside. If the car you really want does not come with sunshades, you can purchase them from your local auto parts and accessories store.

Bluetooth

For your safety, and to be in compliance with many state laws, Bluetooth connectivity is an important feature to have in your family car. Really because it is illegal to drive while holding a phone in your hand in most states.

Power sliding doors

Easy open and close doors are good for toddlers who are too small to slide the doors themselves. Since the doors open and close automatically, they will not close all the way if there is something in the way. Your fingers and your children will be safe.

Anti-lock brakes

This feature prevent the brakes from locking when you press them in the case of emergencies.

UBS/ Power Connection

Avoid the whines and tears of your passengers when their tablets and phones have a low battery. The USB and power connection will save the day, and your ears until you get to your destination.

Rear rubbish bin

This removable bin is great for long periods in the car, it allows your rear passengers to throw away their garbage without having to pull over.

Cars are extremely customizable. Consider what is important to have to you and your family, and go from there. If you have one child, and don’t plan to have another for 7 years or so, you have time to pay that vehicle off, before getting another one that’s larger with more features. The features that directly correlate to the safety of your family are the most important.

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