The Federal Adoption Tax Credit is an important financing resource for most adoptive parents. Whether you're just starting to look into adoption, are waiting to adopt, or have recently adopted, it's smart to learn about the Adoption Tax Credit. That way, after your adoption is finalized, you'll be able to make the most of the tax credit!
The United States tax code allows for an adoption tax credit up to $14,080 per adopted child per 2019 guidelines. We understand that taxes can be confusing. Even though we're not tax professionals here at Lifetime, we wanted to share some helpful tips to get you started when you file as a new adoptive parent. Here's what you need to know about the adoption tax credit.Read More