Adoption Expert | Adoption Tax Credit Refundability Act Adopting a child can change a family forever, but for many families in the United States, adoption is just too expensive. It can cost tens of thousands of dollars. That kind of money can stop good families from bringing a child into their home. To help with […]

Breaking Down the Adoption Tax Credit for 2020 Tax Returns Although you can’t legally get out of paying taxes, you can qualify for tax credits that reduce your total tax load. For the 2020 tax year, the IRS allows adoptive parents to deduct qualified adoption expenses of up to $14,300 per child. Rather than passing […]

Offsetting Legal Expenses With the Federal Adoption Tax Credit About 2,000 adoptions are finalized in the state of Pennsylvania each year. The Federal Adoption Tax Credit often plays a significant role in such adoptions and was introduced to ensure that it was not only the wealthiest Americans who could afford to adopt. Representation from a […]

Even though same-sex marriage is the law of the land now, there can still be legal challenges, especially when there are minor children involved. Typically, this is the parent who is biologically tied to the child. In many same-sex marriages, that person (the biological parent) is customarily the only one with actual parental rights. This […]

In April of this year Senators Casey (D-PA) and Blunt (R-MON) introduced Senate Bill 950 entitled the “Adoption Tax Credit Refundability Act of 2015.” The purpose of the Act would be to make the Adoption Tax Credit fully refundable as it had been several years ago. The need for this is that approximately one-half of […]