[Paige in FL]

I have a question on this. We have four children at home, so would need to show $70,000 in income for China, right? This year we should do that just fine, but the past two years it won't show that on our taxes. We own our own business, and it's grown each year.

But we always pay cash for our cars, so have no car payments. We have a lot of equity in our house, and only owe about 25% on our mortgage. We have no debt. Our kids play soccer, take dance, etc.

But even though we're fine financially...since we can't show the $10, 000 per family member the past two years...will that affect us adopting in China?

Or do they just want to know we make the minimum now, and show that we've been stable the other two years?

Thanks for any help in understanding this.

[morsedonna]

Paige,
I think they would mostly care where you are currently, and it sounds like you are doing fine. I did not have to show any tax returns at all, because my DH and I are traveling together and my Agency didn't require it.

[prechrswife]

This is the way this was explained to us. The tax forms are for the US government, not the Chinese government. All they must show is that your family was living above the poverty level for a family of your size on those tax returns. This amount is lower than the $10,000 per family member. We had a similar situation because we went through an unemployed period during the last part of 2002 and first part of 2003. Because of this, our 2003 tax return was below the minimum amount for China. However, it was above the US poverty level, so there is no problem. I hope this makes sense.

Edited to add that since then we have been told that we do not have to take the tax returns since both of us will be traveling.

[Paige in FL]

Okay, so the tax return is for the US end. (I saw a post this week mentioning they were asked at the Embassy to show three years tax returns, but it might have been a while back when the adoption took place.)

The $10, 000 per family member IS a China requirement, right? If so, how do we show this? Is it a part of the homestudy paperwork? So as long as we show we're making that now, we should be fine?

Thanks everyone!

Paige

[morsedonna]

We had to show paycheck stubs and have a letter from our employer. I am not sure how that works when you own your own business. Do you actually write your self a paycheck? I know some business owners do and some don't. I am not sure where the letter would come from.
Do you have an agency or SW you are working with yet?

[Paige in FL]

<<Do you have an agency or SW you are working with yet>>

No, we are checking into things still, and this (whether we were even eligible) tripped me up. I have been in contact with a SW, and could ask them what we need I guess for proof of income.

We do our own taxes, too, so have no accountant. We can show bank statements and records, though. I would assume that will be enough? I hope so!

We're still narrowing down agencies, too. We were looking into Guatemala, and are still considering them, but I want to check into China more, too, with some of the changes going on in Guatemala right now.

Thank you!

[SummerMommy]

We only had to show last year's tax return and get employment verifications from our employer. But our agency has a $80,000 minimum income requirement. So I guess every agency is different.

I don't think China actually specifies a minimum income level so it's something the agencies do on their own. If you're worried about your income or the verifications, just shop around for an agency that is more flexible.

[maureen3770]

Yes, the salary requirements are an agency thing -- not a China requirement. If this is the only "qualifying" item that you're worried about it shouldn't be an issue to find an agency to work with.

Good luck!

Maureen
Waiting for Olivia b: 10-28-03 a: ???

[Paige in FL]

<<Yes, the salary requirements are an agency thing -- not a China requirement. If this is the only "qualifying" item that you're worried about it shouldn't be an issue to find an agency to work with.

Good luck!>>

Thanks, Maureen, and everyone who has posted.

I could have sworn I'd read that China is where the "$10,000 per family member plus the baby" income requirement came in. Maybe I just assumed it because it was always right there with the "four minor children in the home" limit, etc.

If this isn't the case...can anyone say WHY that requirement is there? I assumed it was so China could count on a certain standard of ability to care for a child well, though that doesn't make sense because I know people who make that income who are strapped and in debt to their eyeballs, and others who make half that who live very nicely.

Why is the limit only on China, and even agencies that do other countries don't put a limit on income for those other countries? It's all so confusing. : )

Paige

[Marshie]

I am self employed/own my own business and instead of a letter from my employer and check stubs I instead have to go to a CPA to get a letter stating how long I've been employed, my approx annual salary, chances I'll still be employed in the future, yada yada. This has to be notorized. We were only asked to provide one years tax return for our homestudy.

Marsha

[drmalcolm]

Originally Posted by Paige in FL

I could have sworn I'd read that China is where the "$10,000 per family member plus the baby" income requirement came in.

I, too, have it in my head that this is posted on the general country requirements of several agencies for China.

I noted that several of you mentioned that you did not need tax returns since you were traveling together. What is the rationale behind this? I'm not really understanding what one thing has to do with the other.

Many thanks in advance for the enlightenment!

[prechrswife]

Originally Posted by drmalcolm

I, too, have it in my head that this is posted on the general country requirements of several agencies for China.

I noted that several of you mentioned that you did not need tax returns since you were traveling together. What is the rationale behind this? I'm not really understanding what one thing has to do with the other.

Many thanks in advance for the enlightenment!

I think the $10,000 per family member is a China requirement, but some agencies require more income. As for not needing the tax returns if both are traveling, I really don't know what the rationale is.

Someone asked how the income amount would be known. It is listed in our homestudy, and in the employer letter. You also fill out a statement of assets form for the dossier.

[cfc]

When both parents travel the us consulate does not require tax returns. When one spouse travels and the other stays home 3 yrs complete tax returns as well as a few other forms are required. It doens't make much sense, but they do require several things extra if only one spouse travels. As well as readopting being a requirement not just an option.
cfc