Story Comments

I hear Bear Sterns is planning to put together a package that allows you to adopt a portfolio of children from provincial China or Darfur.
You get the deductions now but you don't have to actually take delivery of the children until some future date - usually two years. This allows you to sell your portfolio to another investor after the end of the tax year but prior to delivery. I understand this will reset the delivery date for another two years.

Portfolios are available in quantities of 10, 100,1000, and 10,000 children.
The larger quantities are targeted to the hedge fund community.

Ben Bernanke will be providing loan guarantees.

I don't think they are advocating adopting for the break, just reminding people that this is a deduction/credit if you adopted last year. An 'overlooked' item.

Just as I'm advising people with large estates that dying in 2010 is a good move vis a vis estate taxes. No one is suggesting they check out on purpose.
JOE

www.blog.joetaxpayer.com

I'll run right out and adopt two or three. Won't have to pay taxes for years with the carry overs, child care deductions and rebates. OK, I know it's a slow news month. And thankfully SmartMoney isn't wasting time on the 'feeling' like a recession, but give me a break, a real tax break. Other than Brad, Angelina and other high bracket tax payers I'm pretty sure that tax specialists are not advising their clients to adopt children for the tax benefits. Can't wait for the Fair Tax so we won't have to read about ridiculous tax breaks any more.