There is great news for prospective adoptive parents! For 2025, the federal adoption tax credit is $17,280. The amazing thing about this tax credit is that it is not a deduction that reduces your income for purposes of determining your tax liability. Rather, it is a tax refund that is based on a dollar-for-dollar reduction …Read More about The 2025 Federal Adoption Tax Credit
For any parents who are looking to adopt, the adoption tax credit is an important and sometimes necessary part of the adoption process. The adoption tax credit helps adoptive families across the country by greatly limiting the financial burdens of adoption. However, there are some aspects of the adoption tax credit that are tricky to …Read More about 8 Things About the Adoption Tax Credit You…
Infant adoption through a domestic adoption program can cost anywhere between $20,000 and $45,000 Because adoption is a legal process at its core, the costs associated adoption stem from the services required to legally establish parental rights and take the child home. There are many factors that account for this wide range in cost (ex: …Read More about Tips for Funding your Need to Adopt