An important financial resource for adoptive parents is the Federal Adoption Tax Credit. So that you can most of this tax credit after your adoption is finalized, it’s wise to learn all you can now. In this webinar, we answered questions about the Adoption Tax Credit like:
- Is there a time cap on the adoption expenses we can claim?
- How long do we have to claim this tax credit?
- How might the tax credit be helpful for our adoption?
- What sort of adoption expenses can we claim, and what records are required when we file?
- When can we claim this tax credit?
- What if we adopt more than one child in the same year?
- Can we claim expenses for a failed adoption?
- and more!
Please note that we are not tax professionals. The information in this webinar is meant to provide you guidance as you learn more about the Adoption Tax Credit so that your tax professional can assist you with your own tax and adoption details. We recommended consulting a qualified tax preparer to ask specific answers about how this tax credit will apply in your unique adoption story.
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Written by Adoption Agency Florida