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Showing posts from February, 2013

Federal Adoption Credit for 2011, 2012, and now 2013

Did you know that the federal government offers adoption benefits in the form of a tax credit?  This is great news for those who are in the process of adopting a child or considering adoption and have paid thousands in attorney's fees, adoption agency fees, and travel expenses.  This credit allows families to exclude up to $12,650 from your income for qualified adoption expenses and may also be able to claim a credit of up to $12,650 if your employer provides adoption benefits as well.

If you're interested in adoption or have already adopted a child but didn't claim the credit, contact your attorney and accountant to discuss further.  You can download the appropriate form (8839) and read more about the credit at http://www.irs.gov/pub/irs-pdf/i8839.pdf.