Regardless of the outcome of yesterday’s elections here in California, today I am counting my blessings.  In an economy such as this, the fact is, we still have wonderful families who are budgeting and investing in private adoption.  I just received a text from an adoptive mom who adopted last year through us – they are budgeting for next year as they want to adopt their second child.  I understand this takes planning.  PLEASE KNOW that your financial investment is not taken for granted. If you are being called to adopt, then we know that God WILL provide.

The following is some exciting news regarding an actual tax reimbursement (not just a credit).

Good news for adoptive families from the health care bill just signed into law March, 2010.  Included in the bill were favorable changes to the Adoption Tax Credit.

Here is a summary of changes made:

  • The maximum credit was increased from $12,150 to $13,170
  • The credit is extended through December, 2011.
  • The credit was made refundable.  If a family has no tax liability,  the IRS will refund the amount due.

We are hopeful and prayerful that President Obama will extend this again.  To know that this amount will be reimbursed, not just be utilized as a tax write off is such a blessing!

Please be sure to speak to your own personal accountant about this and all of your adoption expenses.

Expenses to keep track of:

  1. Home Study
  2. Fingerprinting
  3. Attorney Fees/Agency Fees
  4. Facilitator Fees
  5. Paid Birth Mom Expenses (living, medical, travel)
  6. Adoption Service Provider (California adoptions)
  7. Travel Expenses
  8. Adoption Profile Expenses (books shown to Birth Moms)