The Federal Adoption Tax Credit is an important resource for most adoptive parents. Whether you’re just beginning to research adoption for your family, if you’re actively waiting to adopt, or if you’ve recently adopted your child, it’s wise to learn about the Adoption Tax Credit so that you can make the most of it when you file taxes after your adoption is finalized. In this webinar, we covered important questions about this tax credit such as:
- What’s the difference between a tax credit and a refund?
- How will the Adoption Tax Credit be helpful or valuable for our adoption?
- What kind of adoption expenses can be claimed and what records are needed when we file?
- When can this tax credit be claimed?
- What about failed adoption expenses or if we adopt more than one child in the same year?
- Is there a time limit on the expenses we can claim or how long we have to claim this tax credit?
- and more!
This is a great webinar to start better understanding the Adoption Tax Credit and how it will apply for your family. Please note that we do not present this material to you as tax professionals, but rather to help you gather knowledge, questions, and other items so that a tax professional can best assist you with your personal tax and adoption circumstances. It’s highly recommended that you consult a qualified tax preparer for specific answers about how the Adoption Tax Credit will apply in your unique adoption story.
The Adoption Tax Credit has been a helpful resource for many adoptive parents. In this webinar we discuss, primarily, what the Adoption Tax Credit means to families adopting within the US, such as through a Lifetime Adoption. After watching this webinar, visit adoptiontaxcredit.org/take-action/ to learn how you can let your Congressional leaders know they should KEEP the Adoption Tax Credit going.