2014 updated tax credit to make adoption affordable
Making Adoption Affordable Federal Tax Credit There is help available. The federal Adoption Tax Credit provides up to $13,190 for qualifying expenses paid to adopt an eligible child in 2014. The credit is indexed for inflation and will increase annually. Eligible expenses include adoption fees, court costs, attorney fees, traveling expenses (including amounts spent for meals and lodging) and other expenses directly related to your adoption. There is an income limit for this credit. See www.irs.gov , for the forms and additional information. Corporate Matching Gifts Further, many large employers offer adoption assistance. See htttp://benefits.adoption.com/ for a list of employers. Those payments may qualify for exclusion from your income for tax purposes in addition to the federal tax credit. You may exclud...