Adoption Tax Credit 101

Some important adoption tax credit basics for families that finalized their adoptions in 2014.mpj031686800001

With 2014 drawing to a close and 2015 right around the corner, it seems appropriate to review some basics as it relates to the federal adoption tax credit. Tax preparations will kick into full gear for many folks come January, so here’s a brief but thorough article from Forbes that’s worth reading:

The Tax Realities of Adoption

We know that the federal adoption tax credit is an important resource for Adoption STAR families (and adoptive families nationwide), so please bookmark this article or print out a copy of it for your records. Also, keep in mind that the specifics regarding the federal adoption tax credit can change from year to year, so folks who finalize adoptions in 2015 will have to review what adoption tax credit changes (if any) apply to them.