Today I will touch briefly on the adoption tax credit. I do want to preface this by saying I am not an accountant and have not yet even been able to claim mine, so please consult a tax professional about this and don’t just take my word!
A lot of agencies quote you a price after the tax credit. For instance, they will say an average adoption costs 15-18k, approximately 4-7k after the credit. This makes it sound so much more affordable. Here is the catch: you still have to pay the full amount up front and then wait and claim the credit. And a lot of people cannot claim the full credit at one time. (more…)