Tax Credit

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Read at about.com to find out what you need to do to claim your tax credit. Please remember that the money spent on the adoption of a spouse’s child is considered an unqualified expense, and therefore, you cannot claim the expense for the adoption of your spouse’s child for the tax credit.

The 2010 tax credit is refundable up to $13,170. If your child is determined to be special needs then you will receive the whole tax credit no matter how much you spent. My friends at about.com have a great article explaining the tax credit thoroughly at this link. By the way, refundable means you…

The updated tax credit for 2010 is $12,170.00 and will sunset at the end of 2010 to $6,000.00 for special needs child adoptions and $5,000.00 for all other qualified adoptions according to William Perez in his blog.

Please view my earlier blog for a full explanation of the adoption tax credit.

Please contact your…