Many people who hear how expensive adoption is do not realize what a dramatic difference the adoption tax credit makes. The tax credit for adoption is $10,000. This is not a deduction where you deduct adoption expenses from your taxable income. This is an actual credit, meaning you pay less money in taxes. For most people, that means you will be getting quite a refund! This one-time tax credit is available to those who adopt internationally as well as those who adopt US infants or US children in foster care, unlike the ongoing monthly subsidies for medical or psychological care … Continue reading →