The purpose of the LPA Adoption Committee is to find a family for every child with dwarfism who needs one. The committee serves as a facilitator between potential adoptive parents, adoption agencies, and birth parents. It is our hope that every single short-statured child in the world finds their own loving family. If you would like to donate to help children find their families, please click the link on the Available Children page. Thank you for your support!
Friday, June 24, 2011
The US Tax Refund for Adoption
Now is the time to adopt. In fact, for 2011 and 2012, the tax refund is pretty impressive. It's not a tax deduction, it's a refund. Which is much, much better.
Now, by the year 2013, the powers that be are predicting that the tax refund will decrease. So, again. Now's the time.
Here's the deal:
You qualify for the adoption tax credit if you adopted a child and paid out-of-pocket expenses relating to the adoption. The amount of the tax credit you qualify for is directly related to how much money you spent on adoption-related expenses. If you adopt a special needs child, however, you are entitled to claim the full amount of the adoption credit, even if your out-of-pocket expenses are less than the tax credit amount.
You may claim an adoption credit of up to $13,360 (for tax year 2011) per eligible child.
Adoption Tax Credit Amounts
2013: $5,000 or $6,000 for a special needs child (projected)
2012: at least $12,170 (will be indexed for inflation), non-refundable
2011: $13,360 (will be indexed for inflation), refundable
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