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Lancaster, PA - Adoption Tax Credit
 For couples who want to adopt but are concerned about the cost, we have wonderful news! Adoption is affordable.
Perhaps the most important factor that makes adoption affordable today is the Adoption Tax Credit of up to $10,960 that is now available to assist with qualifying adoption expenes. The adoption credit is an amount that you subtract from your tax liability. Families with Adjusted Gross Income of more than $155,960 will receive smaller credits or perhaps no credit. In addition to the Adoption Tax Credit, there are organizations that provide adoptions assistance, including Bethany, and a variety of other useful information that can make adoption an affordable option for just about everyone who really wants to adopt. For more information on this tax credit, please visit the IRS Website: Adoption Credit.
 Many children who are in foster care are awaiting adoption. This form of adoption generally requires no adoption fees and a support subsidy from the state may be available to the child until he or she turns 18.
Bethany provides the information on financing adoption for your information and consideration. We are not endorsing or recommending their use.
We do recommend you make an assessment of their services and costs. Additionally, we recommend you consult your tax advisor, accountant, or attorney for more information.
Some states have a state tax credit or deduction in addition to the federal tax credit (AR, AZ, CA, ID, IA, KS, MD, MA, MI, NM, ND, OK, UT, WV, WI). Ask your tax advisor about possible state credits.
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