My husband and I have tossed the idea around for years on whether or not to be foster parents. My question is, the state gives you money to care for the child- is this considered income? Im thinking that maybe we should just wait until our 13 is discharged.
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good question! your expenses would go up and i would assume you would have to count that as income. but you better wait for someone with actual knowldege to reply lol
general resource - http://www.nfpainc.org/Im not an attorney or a trustee. You cant trust me either though!
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Originally posted by Jenn
Not for sure there, but they considered social security survivor's benefits received for my oldest son as income. We were told that even though it was received for him, it counted towards our income.
VickyChapter 13 filed -8/12/04
Plan approved- 7/11/05
Date discharged--10-12-2007
Date closed- 12/6/2007:yes2::yes2:Comment
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Foster parents employed by the county are considered volunteers. the money paid to them is strictly for the care and feeding of the children and therefore not your income. You are not to report the children on you tax returns as they are a ward of the court and not your dependant. The rules for private foster care agencies may be different.Comment
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