Tbrown

Hi all,
just wanted to tell anyone that doesnt know about the adoption tax credit. You can claim up to $10,000 of your adoption cost on your taxes over 3 years (i think its three but check with your tax person). My husband and I paid no federal taxes at all this past year and still have several thousand left over to claim this coming tax year from our adoption. You sure can't offset the cost of fertility treatments like this! Thank you Uncle Sam!
Tracey

skiboo

DH and I already knew about this and we are very much looking forward to it. We are in a very high tax bracket and have little to claim other than the interest on our mortgage. It will feel good to get a little something back from the U.S. Govt, esp. for me. I am a Canadian citizen who has been in the U.S. for nearly 7 years. The first 5 years I was here on a NAFTA visa, which meant that I had to pay in to Social Security but I can't collect on it! Now that I have a green card, I can collect BUT not for those first five years! So, I will gladly accept this money back as repayment for what I contributed to Social Security (which probably will be depleted by all the baby boomers the time we all retire anyway, so why worry about it, eh?)

Janie

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Me: 40 DH: 40 Married 04/21/01
dx pcos 1998; have been on Metformin for 6 yrs (2000 mg/day)
Ectopic pg 08/02 ... HSG 09/02 -- all clear
Five failed clomid rounds as of 2/27/03
Laparoscopy 03/11/03; found multiple fibroids and endometriosis
3 rounds of Gonal-F injections with IUI's -- all a BUST!!
Myomectomy on July 8, 2003 to remove fibroids.
Adopted the Light of My Life on July 14th, 2004 from St. Petersburg, Russia

CathyWood

We knew this too...BUT I am not sure if we will actually go that route with adoption since we don't have $15K to begin with. My older brother adopted years ago..and I know back then he said it was like buying a truck. LOL. He is waiting very paitently for that tax credit since he has 4 kids. I am sure my parents will help him spend it. lol

By the way...Welcome to SC. Glad you found us and take care of your little one...

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Cathy 36
Lee 40
Married Feb 12, 1994
HSG Nov 2004
Brandon Aug 8, 2005

Lisa67

The adoption tax credit is very helpful!! While we know we need to front that money in the first place, it's nice to know we'll get some back in the end too.

Don't forget about employment reimbursements too. Some companies offer assistance with adoptions too.

Congrats on your adoption decision! I know how exciting that choice is!!

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