Adoption Tax Credit

August 20th, 2011

TaxFor the next couple of years, adoptive parents will not be dreading April 15 -- Tax Day. Thanks to the Federal Adoption Credit, many people can offset some of the rather high costs associated with adoption. I knew about the adoption tax credit, but I must admit that I did the bare minimum for fact-finding and figured I (ok, my husband) would trudge through the process and the details after our adoption was finalized. (See, that much I knew; for international adoption, the tax benefits are not realized until after the adoption is final.) Well, then I did some investigating. And based on the surprises I found, I'm glad I did! Here are the basics:

  • First, you need to meet the eligibility requirements. Your adoption qualifies

Future Adoptive Families Need Our Help

June 18th, 2009

Cost is a huge factor in adoption. Many people do not even look into the adoption process because of the common belief that only the wealthy can adopt. The Adoption Tax Credit the U.S. Government offers is an amazing resource that can really make adoption a reality for many families. Personally, I don't think we could have adopted our two girls without knowing that we would get a lot of the money back. As much as we wanted to adopt, we didn't want to morgage the next ten years of our lives either. For those of you new to the adoption scene. The Adoption Tax Credit is currently at $12,150 per adoption. This is a TAX CREDIT, not a deduction… [more]

Family leave in the world, continued

August 5th, 2007

Continued from the previous post. Although it looks good on paper, the British system of family leave and maternity benefits has critics. This article suggests that compliance is an issue and that women workers are leaving the workforce in droves because, "... employers aren't managing their family ambitions. " Poland, one of the poorer EU countries, offers 16 to 18 weeks of maternity leave at 100% of pay, and Romanian mothers get 112 days at 50% to 94% of their salaries while fathers get five days at full pay. Even in Ukraine maternity leave is mandated, with mothers entitled to 126 days leave while collecting 100% of their pay. So, that's Europe, but what about the rest of the world? Other high tax… [more]

Family leave in the world

August 4th, 2007

An article today detailing maternity, paternity and adoption rights in the UK started me wondering how similar or different the situation is in various parts of the world for new parents. Thinking about both adoptive parents and those in other countries who may be considering relinquishment, it's interesting to see what sort of laws cover parental rights around the world. With the Federal Family Leave Insurance Act still being chewed on in the US Senate ... Senators Christopher Dodd (D-CT) and Ted Stevens (R-AK) introduced the bill to provide paid family leave for birth or adoption of a newborn, care of an elderly parent, or serious illness of the employee ... many are being made aware of just how far the… [more]