Husband and wife trying to work on their finances togetherDo you have questions about the adoption tax credit?

Many families begin the adoption process wanting to learn more about this valuable tax benefit worth over $12,000.  But let’s face it, the tax code can be confusing even for seasoned accountants!  When families start the adoption process, we often hear questions like

  • Is this just like the tax deduction we get for our mortgage interest?
  • What’s the difference between a tax credit and a tax deduction?
  • When can we claim the tax credit? In the year the adoption is finalized? Or the year we begin? Or??
  • Does it matter how much money we make?
  • Will the tax credit for adoption go away or is it permanent?
  • Is it for all adoptions? Even through the foster system?

If you want some specific answers, we have help!

First, we often feature experts that talk about topics like this on free monthly webinars.  You can register at AdoptionTeleconference.com.

We’ve found a great article online that has specific and up-to-date examples for these questions and others. 

Finally, for answers about this and other questions, visit this page about financing your adoption. We have information on adoption loans, adoption grants, and much, much more!

Mardie Caldwell, C.O.A.P.
Written by Mardie Caldwell, C.O.A.P.

Founder of Lifetime Adoption, adoptive mom, adoption expert, and Certified Open Adoption Practitioner (C.O.A.P).

Since 1986, adoption expert Mardie Caldwell has been dedicated to bringing couples and birth parents together in order to fulfill their dreams.

“Many years ago, I was also searching for a child to adopt. We didn’t know where or how to get started. Through research, determination, and a prayer, our dream of a family became reality. I started with a plan, a notebook, assistance from a caring adoption consultant and a lot of hard work; this was my family I was building. We had a few heartaches along the way, but the pain of not having children was worse!

Within weeks we had three different birth mothers choose us. We were overwhelmed and delighted. Many unsettling events would take place before our adoption would be finalized, many months later. Little did I know that God was training and aligning me for the adoption work I now do today. It is my goal to share with our families the methods and plans which succeed and do not succeed. I believe adoption should be affordable and can be a wonderful “pregnancy” for the adoptive couple.

I have also been on both sides of infertility with the loss of seven pregnancies and then conceiving by new technology, giving birth to a healthy daughter. I have experienced first-hand the emotional pain of infertility and believe my experience allows me to serve your needs better.

It is my hope that for you, the prospective parents, your desire for a child will be fulfilled soon.”

Read More About Mardie Caldwell

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