Podcasts about adoption tax credit

Click here to send us a topic idea or question for Weekend Wisdom.Question: On the 2025 Adoption Tax Credit Episode, it was mentioned that they thought this would possibly be the year it becomes refundable. Does that only apply to finalizations in 2025, or will it make previous adoptions (if within the 5-year tax credit range) refundable too? For example, an adoption finalized in 2023 but we haven't used all of the tax credit available. Does the remaining amount become refundable, too? ~Oklahoma City, OKResources:Understanding the Adoption Tax CreditAdoptionTaxCredit.orgJosh Kroll, Families Rising (joshk@wearefamiliesrising.org)Support the showPlease leave us a rating or review. This podcast is produced by www.CreatingaFamily.org. We are a national non-profit with the mission to strengthen and inspire adoptive, foster & kinship parents and the professionals who support them.Creating a Family brings you the following trauma-informed, expert-based content: Weekly podcasts Weekly articles/blog posts Resource pages on all aspects of family building

The 2024 Adoption Tax Credit offers adoptive parents up to $16,810 as a dollar-for-dollar reduction of their tax liability. Unlike deductions, this credit directly lowers the taxes owed, provided expenses are documented. Ensure you have your adopted child’s Social Security number to claim this benefit and avoid filing delays. Dr. Friday emphasizes the importance of proper paperwork for a seamless filing process. Transcript: G’day. I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. The 2024 adoption tax credit is $16,810. The tax credit is not a deduction that reduces your income for the purpose of determining tax liability. Rather, it’s a tax refund that is based on a dollar-for-dollar reduction of your tax liability. So it’s a credit, right? Simply put, an adoption credit in, and you will save $16,810 if you have spent that. You need to make sure you have a Social Security number for the child that you have adopted. We’ve had to file extensions more than once just to make sure we had the paperwork in line. You need help, 615-367-0819. You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.

Click here to send us a topic idea or question for Weekend Wisdom.If you are adopting or have adopted within the last several years you should join our conversation today about claiming the Adoption Tax Credit for 2024. Our guests will be Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist with Bill's Tax Service; and Josh Kroll, the Adoption Subsidy Resource Center coordinator at Families Rising.In this episode, we cover:What is the Adoption Tax Credit for adoption being claimed on 2024 federal taxes? What is a “credit,” and how does it differ from a deduction or tax savings?How would you use the Adoption Tax Credit if you get a tax refund every year?Should you still apply the credit to your federal income taxes if you don't have any federal tax liability?What types of adoptions are included or excluded? Are kinship adoptions covered? Are kinship guardianship arrangements covered? What if the child never was involved with the foster care system?Can you get credit for each adoption you complete even if completed in the same year? What about adopting siblings at the same time?What is a Qualified Adoption Expense for purposes of the Adoption Tax Credit 2024?When can you claim the Adoption Tax Credit?Special Needs Adoption: How does the Adoption Tax Credit differ for adoptions from foster care? What does the IRS accept as proof of “special needs”?What is a $0 subsidy agreement?Special needs child for international adoptionCan you reclaim your expenses for an attempted adoption that did not result in a placement (failed adoption)? How?What income level (Modified Adjusted Gross Income) is excluded?How long can the credit be carried over?What if you didn't claim the Adoption Tax Credit when eligible? Is the Adoption Tax Credit something you can amend your tax return for, and if so, how do you amend it, and how many years back?Will the Adoption Tax Credit offset self-employment tax?How does the Secure Act impact claiming the Adoption Tax Credit for 2024 taxes? What should you do if the child's Social Security Number is unavailable when you file? Should you use an Adoption Taxpayer Identification Number (ATIN #) if you don't have the child's social security number?How does the Adoption Tax Credit work in conjunction with employee adoption benefits? For special needs adoption?If you adopt, can you still get the Child Tax Credit?What do you need to get the Child Tax Credit for your adopted child?Do you need to send any documentation to the IRS when you file your taxes? What type of documentation should you keep in your records?How do you find a tax specialist knowledgeable about Adoption Tax Credit? The Adoption Tax Credit used to be a refundable credit. Do you think the new administration will impact the refundability legislation? Advocate for refundability Support the showPlease leave us a rating or review. This podcast is produced by www.CreatingaFamily.org. We are a national non-profit with the mission to strengthen and inspire adoptive, foster & kinship parents and the professionals who support them.Creating a Family brings you the following trauma-informed, expert-based content: Weekly podcasts Weekly articles/blog posts Resource pages on all aspects of family building

In this episode, Dr. Friday explains the benefits of the Adoption Tax Credit, which offers up to $16,810 in dollar-for-dollar tax savings. Although not all of the credit is refundable, it can be carried over for up to six years, making it a valuable tool for adoptive parents. Dr. Friday also highlights how any withholdings from your paycheck may be refunded, providing additional financial support. Learn how this tax credit can make a difference in your finances while helping change lives through adoption. Transcript: G’day I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Adoption tax credit. Besides the fact that I think adoption is an awesome thing, there is some tax credits allowed to you up to $16,810 and you did hear the word credit which means it’s a dollar for dollar deduction. Now not all of it is going to be refundable but that may not make a big difference. Most the time you’re gonna use the money it will roll over from year after year for I believe up to like six years so you’re gonna be able to use that and any money you’ve paid out of your paycheck you can have refunded. So this is a great thing not only are you helping in changing people’s lives but this can be a way for you to actually get a little help. Call us at 615-367-0819. You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.

In this episode of The Adoption Roadmap, Rebecca interviews Matt Joyner, an expert in financial planning for adoptive families. Matt shares his personal adoption journey and provides valuable insights on how to financially prepare for adoption. He discusses both the emotional and economic aspects, common financial challenges, and strategies for balancing immediate adoption costs with long-term goals. Matt explains the adoption tax credit, including eligibility, income limitations, and the application process, as well as employer and military benefits available to adoptive families. Rebecca and Matt's conversation concludes with insights on the importance of early financial planning and self-awareness in the adoption journey. Important Links mentioned in Today's Episode Matt's Adoption Finance Planning Guide  Matt's Financial Planning Firm Dave Thomas Foundation Planswell - Retirement Planning Software Man's Search for Meaning - Victor Frankl ⁠⁠RG Adoption Consulting⁠⁠⁠  ⁠⁠⁠The Adoption Roadmap⁠ Your Adoption Finance Coach  Chapters 4:20 Personal Experience with Adoption  9:35 Financial Challenges and Preparation for Adoption  20:07 Financial Pitfalls to Avoid: Dipping into Retirement Savings and Inadequate Emergency Funds 23:16 Alternative Funding Options 28:51 Balancing Adoption Costs and Long-Term Financial Goals 29:40 Understanding the Adoption Tax Credit and Employee Benefits 37:45 The Importance of Early Financial Planning 39:45 Employer and Military Benefits for Adoptive Families  40:41 Raising, Saving, and Borrowing Money for Adoption 42:08 The Importance of Remembering the Purpose of Adoption Episode Disclaimer This recording is limited to the dissemination of general information pertaining to adoption planning. Nothing presented within constitutes specific investment advice, tax or accounting advice, legal insurance or regulatory advice, or an offer to sell or solicitation of an offer to buy any security.  While reasonable efforts were used to obtain information from sources believed to be reliable, Fortis Capital Advisors LLC makes no representation that the information or opinions contained in these materials are accurate, reliable, or complete. All information and opinions contained in this presentation are subject to change without notice. Investment advice is offered through Fortis Capital Advisors LLC, 7301 Mission Road, Suite 326. Prairie Village, Kansas 66208. Fortis Capital Advisors LLC is an investment advisor registered with the Securities and Exchange Commission, SEC. Additional information about Fortis Capital Advisors LLC is available on the SEC's website at www .advisorinfo .sec .gov. Fortis Capital Advisors LLC mainly provides investment advice, to individual investors and businesses.  Tune in to The Adoption Roadmap Podcast every Wednesday and Friday mornings. If you like what you hear, I'd appreciate a follow and 5-star rating & review!  THANK YOU!

In this episode of The Adoption Roadmap,Rebecca interviews Matt Joyner, an expert in financial planning for adoptive families. Matt shares his personal adoption journey and provides valuable insights on how to financially prepare for adoption. He discusses both the emotional and economic aspects, common financial challenges, and strategies for balancing immediate adoption costs with long-term goals. Matt explains the adoption tax credit, including eligibility, income limitations, and the application process, as well as employer and military benefits available to adoptive families. Rebecca and Matt's conversation concludes with insights on the importance of early financial planning and self-awareness in the adoption journey. Important Links mentioned in Today's Episode Matt's Adoption Finance Planning Guide  Matt's Financial Planning Firm Planswell - Retirement Planning Software  ⁠⁠RG Adoption Consulting⁠⁠⁠  ⁠⁠⁠The Adoption Roadmap⁠ Your Adoption Finance Coach  Chapters 4:20 Personal Experience with Adoption  9:35 Financial Challenges and Preparation for Adoption  20:07 Financial Pitfalls to Avoid: Dipping into Retirement Savings and Inadequate Emergency Funds 23:16 Alternative Funding Options 28:51 Balancing Adoption Costs and Long-Term Financial Goals 29:40 Understanding the Adoption Tax Credit and Employee Benefits 36:56 Employer and Military Benefits for Adoptive Families  46:03 The Importance of Early Financial Planning 47:13 Raising, Saving, and Borrowing Money for Adoption 49:09 The Importance of Remembering the Purpose of Adoption Episode Disclaimer This recording is limited to the dissemination of general information pertaining to adoption planning. Nothing presented within constitutes specific investment advice, tax or accounting advice, legal insurance or regulatory advice, or an offer to sell or solicitation of an offer to buy any security.  While reasonable efforts were used to obtain information from sources believed to be reliable, Fortis Capital Advisors LLC makes no representation that the information or opinions contained in these materials are accurate, reliable, or complete. All information and opinions contained in this presentation are subject to change without notice. Investment advice is offered through Fortis Capital Advisors LLC, 7301 Mission Road, Suite 326. Prairie Village, Kansas 66208. Fortis Capital Advisors LLC is an investment advisor registered with the Securities and Exchange Commission, SEC. Additional information about Fortis Capital Advisors LLC is available on the SEC's website at www .advisorinfo .sec .gov. Fortis Capital Advisors LLC mainly provides investment advice, to individual investors and businesses.  Tune in to The Adoption Roadmap Podcast every Wednesday and Friday mornings. If you like what you hear, I'd appreciate a follow and 5-star rating & review!  THANK YOU!

In this episode of The Adoption Roadmap,Rebecca interviews Matt Joyner, an expert in financial planning for adoptive families. Matt shares his personal adoption journey and provides valuable insights on how to financially prepare for adoption. He discusses both the emotional and economic aspects, common financial challenges, and strategies for balancing immediate adoption costs with long-term goals. Matt explains the adoption tax credit, including eligibility, income limitations, and the application process, as well as employer and military benefits available to adoptive families. Rebecca and Matt's conversation concludes with insights on the importance of early financial planning and self-awareness in the adoption journey. Important Links mentioned in Today's Episode Matt's Adoption Finance Planning Guide  Matt's Financial Planning Firm Planswell - Retirement Planning Software  ⁠⁠RG Adoption Consulting⁠⁠⁠  ⁠⁠⁠The Adoption Roadmap⁠ Your Adoption Finance Coach  Chapters 4:20 Personal Experience with Adoption  9:35 Financial Challenges and Preparation for Adoption  20:07 Financial Pitfalls to Avoid: Dipping into Retirement Savings and Inadequate Emergency Funds 23:16 Alternative Funding Options 28:51 Balancing Adoption Costs and Long-Term Financial Goals 29:40 Understanding the Adoption Tax Credit and Employee Benefits 36:56 Employer and Military Benefits for Adoptive Families  46:03 The Importance of Early Financial Planning 47:13 Raising, Saving, and Borrowing Money for Adoption 49:09 The Importance of Remembering the Purpose of Adoption Episode Disclaimer This recording is limited to the dissemination of general information pertaining to adoption planning. Nothing presented within constitutes specific investment advice, tax or accounting advice, legal insurance or regulatory advice, or an offer to sell or solicitation of an offer to buy any security.  While reasonable efforts were used to obtain information from sources believed to be reliable, Fortis Capital Advisors LLC makes no representation that the information or opinions contained in these materials are accurate, reliable, or complete. All information and opinions contained in this presentation are subject to change without notice. Investment advice is offered through Fortis Capital Advisors LLC, 7301 Mission Road, Suite 326. Prairie Village, Kansas 66208. Fortis Capital Advisors LLC is an investment advisor registered with the Securities and Exchange Commission, SEC. Additional information about Fortis Capital Advisors LLC is available on the SEC's website at www .advisorinfo .sec .gov. Fortis Capital Advisors LLC mainly provides investment advice, to individual investors and businesses.  Tune in to The Adoption Roadmap Podcast every Wednesday and Friday mornings. If you like what you hear, I'd appreciate a follow and 5-star rating & review!  THANK YOU!

Tune in to The Good Morning Show with John and Robin as they welcome Representative Courtney Sprunger to discuss the ins and outs of the Adoption Tax Credit!

Could you qualify for the Adoption Tax Credit? Find out by listening to this podcast with Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist with Bill's Tax Service, and Josh Kroll, the Adoption Subsidy Resource Center coordinator at Families Rising (formerly the NACAC).In this episode, we cover:What is the Adoption Tax Credit for adoption being claimed on 2023 federal taxes?What is a “credit” and how does it differ from a deduction or some other form of tax savings?If you get a tax refund every year, how would you use the Adoption Tax Credit?If you don't have any federal tax liability, should you still apply the credit to your federal income taxes?What type of adoptions are included or excluded? Stepparent adoption? Embryo adoption? Same-sex partner second parent adoption? Unmarried heterosexual second parent adoption? Surrogacy?Can you get credit for each adoption you complete even if completed in the same year? What about adopting siblings at the same time?What is a Qualified Adoption Expense for purposes of the Adoption Tax Credit 2022?When can you claim the Adoption Tax Credit?Domestic private adoptionInternational AdoptionRe-adoption in the US for international adoptionFoster Care AdoptionHow does the Adoption Tax Credit work with kinship adoptions? What if the child never was involved with the foster care?Special Needs Adoption: How does the Adoption Tax Credit differ for adoptions from foster care? What does the IRS accept as proof of “special needs”?$0 subsidy agreementSpecial needs child for international adoptionCan you reclaim your expenses for an attempted adoption that did not result in a placement? How?What income level (Modified Adjusted Gross Income) is excluded from claiming the Adoption Tax Credit in 2022?How long can the credit be carried over?Are you able to amend previous year tax return to claim adoption tax credit? Is adoption tax credit something you can amend for, and if so, how do you amend and how many years back?Will the Adoption Tax Credit offset self-employment tax?How does the Secure Act impact claiming the Adoption Tax Credit for 2023 taxes?What should you do if the child's Social Security Number is unavailable when you file?Should you use an Adoption Taxpayer Identification Number (ATIN #) if you don't have the child's social security number?How does the Adoption Tax Credit work in conjunction with employee adoption benefits? For special needs adoption?Qualified Birth or Adoption Distribution from Qualified Retirement Plan without penalty. Under Secure Act.If you adopt, can you still get the Child Tax Credit?What do you need in order to get the Child Tax Credit for your adopted child?Do you need to send to the IRS any documentation for the Adoption Tax Credit when you file your taxes? What type of documentation should you keep in your records?How to find a tax specialist knowledgeable on the Adoption Tax Credit? https://adoptiontaxcredit.orgHow to advocate for refundability?This podcast is produced by www.CreatingaFamily.org. We are a national non-profit with the mission to strengthen and inspire adoptive, foster & kinship parents and the professionals who support them. Creating a Family brings you the following trauma-informed, expert-based content:Weekly podcastsSupport the showPlease leave us a rating or review RateThisPodcast.com/creatingafamily

Insulin price cap now active nationwide -- Adoption Tax Credit now available -- Snow Squall Warning for Northern Utah  

Another tax credit is on the way to help prospective parents this tax season. Parents looking into adoption may be eligible for up to $3,500 the year that they are finalizing their adoption. Representative Rex P. Shipp joined the show to talk about his bill. 

Have you ever considered adopting a child from foster care? Check out our interview with Erica Jourdan, the Founder of Adoption Options Consulting, where she provides support to families looking to adopt older children from foster care. She is also a Licensed Clinical Social Worker Associate (LCSWA) at Flourish Counseling and Wellness. And Angelica Jones, a Licensed Clinical Social Worker (LCSW) and the Intensive Service Foster Care Recruiter and Trainer at Vista Del Mar Child and Family Services in Los Angeles. She is a current foster parent and has experience working with prospective and adoptive parents in the foster care program.In this episode, we cover:What are the different ways to adopt from foster care? (adopting children whose parental rights have already been terminated or adopting a child who you have been fostering when their parental rights are terminated)What types of kids are available for adoption from foster care? Age, gender, race, sibling group?Is adopting a very young child or baby from foster care possible?What are the special needs that these children might have? Trauma, prenatal exposure, ADHD, etc.Can you adopt a child from foster care across state lines?What should prospective parents think about when considering different ages of children to adopt?What should prospective parents think about when considering a sibling group for adoption?How to find children currently available for adoption?  AdoptUSKids, State Heart Galleries, Wendy's Wonderful KidsWhat are the basic differences between adopting and fostering in foster care?Who can adopt from foster care?Can singles men and women adopt from foster care?Can LGBTQ+ parents adopt?What are the education requirements? Do you have to have graduated from high school, or college?Can you adopt if you have a criminal background?Do you have to own your own home?Do you have to make a certain amount of money in order to adopt from foster care?How much does it cost to adopt from foster care?Is an adoption subsidy usually available?Medicaid is usually available.What happens if you think the child might have problems in the future due to things, such as prenatal exposure, but is not currently showing any issues due to age? (if you have questions, contact Families Rising (Formerly known as NACAC, North American Council on. Adoptable Children))How does the Adoption Tax Credit apply to adoptions from foster care?What is the process for someone wanting to adopt from foster care?Home study requirements?How much education or training is required?Do you have to use the state agency or can you use a private agency? What is the difference between the two? Does it depend on what state you live in?What are some questions to ask when choosing an agency?How to transition a child into your home for adoption (if you aren't the foster parent) in the most child-centric way?Post-adoption contact or openness with birth parents, siblings, or birth grandparents.This podcast is produced by www.CreatingaFamily.org. We are a national non-profit with the mission to strengthen and inspire adoptive, foster & kinship parents and the professionals who support them. Creating a Family brings you the following trauma-informed, expert-based content:Support the showPlease leave us a rating or review RateThisPodcast.com/creatingafamily

Are you planning on claiming the Adoption Tax Credit when you file your taxes this year? If so, this is the podcast for you! We talk with two of the top experts in the US on the Adoption Tax Credit: Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist with Bill's Tax Service, and Josh Kroll, the Adoption Subsidy Resource Center coordinator at the North American Council on Adoptable Children (NACAC).In this episode, we cover:What is the Adoption Tax Credit for adoption being claimed on 2022 federal taxes?How to advocate for refundability?What is a “credit” and how does it differ from a deduction or some other form of tax savings?If you get a tax refund every year, how would you use the Adoption Tax Credit?If you don't have any federal tax liability, should you still apply the credit to your federal income taxes?What types of adoptions are included or excluded? Stepparent adoption? Embryo adoption? Same-sex partner second-parent adoption? Unmarried heterosexual second-parent adoption? Surrogacy?Can you get credit for each adoption you complete even if completed in the same year? What about adopting siblings at the same time?What is a Qualified Adoption Expense for purposes of the Adoption Tax Credit 2022?When can you claim the Adoption Tax Credit?Domestic private adoptionInternational AdoptionRe-adoption in the US for international adoptionFoster Care AdoptionHow does the Adoption Tax Credit work with kinship adoptions? What if the child never was involved with foster care?Special Needs Adoption: How does the Adoption Tax Credit differ for adoptions from foster care? What does the IRS accept as proof of “special needs”?$0 subsidy agreementSpecial needs child for international adoptionCan you reclaim your expenses for an attempted adoption that did not result in a placement? How?What income level (Modified Adjusted Gross Income) is excluded from claiming the Adoption Tax Credit in 2022?How long can the credit be carried over?Are you able to amend the previous year's tax return to claim the adoption tax credit? Is the adoption tax credit something you can amend, and if so, how do you amend and how many years back?Will the Adoption Tax Credit offset self-employment tax?How does the Secure Act impact claiming the Adoption Tax Credit for 2022 taxes?What should you do if the child's Social Security Number is not available when you file?Should you use an Adoption Taxpayer Identification Number (ATIN #) if you don't have the child's social security number?How does the Adoption Tax Credit work in conjunction with employee adoption benefits? For special needs adoption?Qualified Birth or Adoption Distribution from Qualified Retirement Plan without penalty. Under Secure Act.If you adopt, can you still get the Child Tax Credit?What do you need in order to get the Child Tax Credit for your adopted child?Do you need to send to the IRS any documentation for the Adoption Tax Credit when you file your taxes? What type of documentation should you keep in your records?How to find a tax specialist knowledgeable on the Adoption Tax Credit? https://adoptiontaxcredit.orgThis podcast is produced by www.CreatingaFamily.org. We are a national non-profit with the mission to strengthen and inspire adoptive, foster & kinshipSupport the showDo you want more expert-based information? Check out our free resources at CreatingaFamily.org.

Have you ever thought about adopting a child from abroad? What does it take and what type of kids are available? To learn more, listen to our interview with Robin Sizemore, Executive Director of Hopscotch Adoptions, who has worked in the international adoption field for 27 years and Debbie Price, Executive Director of Children's House International and who has worked in international adoption for 28 years. In this episode, we cover:Outline of the typical international adoption process.What type of kids are available for international adoption?What is the youngest child available?Is it possible to get a young healthy child or baby?International adoption regulations.What governmental entities are involved in international adoption?How to decide on what country to adopt from? Will the country accept you? Does the country place children that you think your family is a good fit for?What are some of the country-specific requirements for adoptive parents?Can adoption agencies have different or more stringent requirements than the foreign or US government?What are the health risks for children adopted internationally?  What type of special needs do children have?What type of care do children have before adoption? Institutional vs foster care.How to find children abroad who are waiting for adoption? How to adopt a child on a waiting child website?How much information will you have on the health of the child when you receive a referral?How big of a risk is it that a country will close down to international adoption once you apply? How do you mitigate the risk of losing the money you invested? What to look for in an international adoption agency?Pre-adoption education requirements.How much does international adoption cost?Are grants available?What is the Adoption Tax Credit and can it be used for an international adoption? How long does it take to adopt internationally?Is it possible for single women, gays, lesbians, or other members of the LGBTQ+ community to adopt internationally?Importance of post-adoption reporting.How do internationally adopted children acquire US citizenship?This podcast is produced  by www.CreatingaFamily.org. We are a national non-profit with the mission to strengthen and inspire adoptive, foster & kinship parents and the professionals who support them. Creating a Family brings you the following trauma-informed, expert-based content:Weekly podcastsWeekly articles/blog postsResource pages on all aspects of family buildingPlease leave us a rating or review RateThisPodcast.com/creatingafamilySupport the show

Dr. Friday 0:00 Good day. I'm Dr. Friday, President of Dr. Friday's Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment. Dr. Friday 0:12 Adoption tax credit. For those who adopt a child, you can receive a credit of up to $14,440 is qualified adoption expenses are required for the year 2021. Or if you adopt a child with special needs, again, $14,440 is what you can adopt. And the perfect part about this guy is if you don't need it in one year, it will roll over, so you won't lose that adoption credit; you will be able to use it throughout the next year or two. So you know, for all those that do adopt, this is an awesome credit. You can reach me at 615-367-0819. Announcer 0:51 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

Today we will be doing an overview of various #TaxCredits on this #taxtiptuesday. We are reviewing the Child Tax Credit, Recovery Rebate Credit, Earned Income Tax Credit, Lifetime Learning Credit, American Opportunity Credit, Child and Dependent Care Credit, Saver's Credit, and Adoption Tax Credit. --- Support this podcast: https://anchor.fm/bettehochbergercpa/support

This episode is also available as a blog post: https://tax-turbo.com/understanding-the-adoption-tax-credit/ --- Send in a voice message: https://anchor.fm/bobby-c-williams-jr/message

Are you planning on claiming the Adoption Tax Credit this year? We talk with Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist with Bill's Tax Service and Josh Kroll, the Adoption Subsidy Resource Center coordinator at the North American Council on Adoptable Children.In this episode, we cover:What is the Adoption Tax Credit for adoption being claimed on 2021 federal taxes? $14,440 per childIt is a non-refundable tax credit. How to advocate for refundability?What is a “credit” and how does it differ from a deduction or some other form of tax savings?If you get a tax refund every year, how would you use the Adoption Tax Credit?If you don't have any federal tax liability, should you still apply the credit to your federal income taxes?What type of adoptions are included or excluded? Stepparent adoption? Embryo adoption? Same-sex partner second parent adoption? Unmarried heterosexual second parent adoption? Surrogacy?Can you get credit for each adoption you complete even if completed in the same year? What about adopting siblings at the same time?What is a Qualified Adoption Expense for purposes of the Adoption Tax Credit 2021?When can you claim the Adoption Tax Credit?Domestic private adoptionInternational AdoptionRe-adoption in the US for international adoptionFoster Care AdoptionHow does the Adoption Tax Credit work with kinship adoptions? What if the child never was involved with the foster care?Special Needs Adoption: How does the Adoption Tax Credit differ for adoptions from foster care? What does the IRS accept as proof of “special needs”?Special needs child for international adoption?Can you reclaim your expenses for a failed adoption? How?What income level is excluded from claiming the Adoption Tax Credit in 2021?How long can the credit be carried over?Will the Adoption Tax Credit offset self-employment tax? Secure Act and Qualified birth or adoption distributions.How does the Adoption Tax Credit work in conjunction with employee adoption benefits? For special needs adoption?If you adopt, can you still get the Child Tax Credit? How does the timing work?What do you need in order to get the Child Tax Credit for your adopted child? Social Security # for the child.How does Advanced Tax Payments work with adoption?What type of documentation for the Adoption Tax Credit should you submit with your taxes? What type of documentation should you keep in your records?What should you do if you do not have your child's social security number when you get ready to file your taxes? When should you consider using an Adoption Taxpayer Identification Number (ATIN #) or Individual Taxpayer Identification Number (ITIN #)?What are the most common questions received about the Adoption Tax Credit?How to find a tax specialist knowledgeable on the Adoption Tax Credit?This podcast is produced  by www.CreatingaFamily.org. We are a national non-profit with the mission to strengthen and inspire adoptive, foster & kinship parents and the professionals who support them. Creating a Family brings you the following trauma-informed, expert-based content:Weekly podcastsWeekly articles/blog postsResource pages on all aspects of family buildingPlease leave us a rating or review RateThisPoSupport the show (https://creatingafamily.org/donation/)

Dr. Friday 0:00 Good day. I'm Dr. Friday president of Dr. Friday Tax and Financial Firm. To get more info go to www.DrFriday.com. This is a one-minute moment. Dr. Friday 0:12 Adoption tax credit. For those who adopt a child, you can receive a credit of up to $14,440 that is qualified adoption expenses are required for the year of 2021. Or if you adopt a child with special needs, again $14,440 is what you can adopt. And, the perfect part about this guys, is if you don't need it in one year, it will roll over so you won't lose that adoption credit you will be able to use it throughout the next year or two. So for all those that do adopt, this is an awesome credit. You can reach me at 615-367-0819. Announcer 0:51 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Hey guys, it's Bette Hochberger, CPA, CGMA, and to kick off Pride Month, we're bringing you a special tax tip Tuesday. On this one, we are going to go over the adoption tax credit. Now, obviously, the adoption credit applies to anyone who adopts a child. It is not strictly for the LGBTQ plus community. It applies to everyone, but the LGBTQIA+ community does tend to make good use of the adoption tax credit, so I wanted to do a high-level overview of the credit. #TaxTipTuesday Read the full article and watch the video here: https://bettehochberger.com/tax-tip-tuesday/adoption-tax-credit-4554/ --- Support this podcast: https://anchor.fm/bettehochbergercpa/support

How can you talk full advantage of the Adoption Tax Credit? What changes are important when filing for this credit for your 2020 taxes. We talk with Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist with Bill's Tax Service and Josh Kroll, the Adoption Subsidy Resource Center coordinator at the North American Council on Adoptable Children.In this episode, we cover: What is the Adoption Tax Credit for adoption being claimed on 2020 federal taxes $14,300It is a non-refundable tax credit. How to advocate for refundability.What is a “credit” and how does it differ from a deduction or some other form of tax savings? If you get a tax refund every year, how would you use the Adoption Tax Credit? If you don’t have any federal tax liability, should you still apply the credit to your federal income taxes? What type of adoptions are included or excluded? Stepparent adoption? Embryo adoption? Same-sex partner second parent adoption? Unmarried heterosexual second parent adoption? Surrogacy?Can you get credit for each adoption you complete even if completed in the same year? What about adopting siblings at the same time?What is a Qualified Adoption Expense for purposes of the Adoption Tax Credit?When can you claim the Adoption Tax Credit?Domestic Infant AdoptionInternational Adoption Re-adoption in the US for International AdoptionFoster Care AdoptionSpecial Needs Adoption: How does the Adoption Tax Credit differ for adoptions from foster care?Special needs child for international adoptionWhat income level is excluded from claiming the Adoption Tax Credit in 2020?How long can the credit be carried over?Will the Adoption Tax Credit offset self-employment tax or will it only offset income tax liability? How does the Adoption Tax Credit work in conjunction with employer benefits?What type of documentation should you submit with your taxes? What type of documentation should you keep in your records?What should you do if you do not have your child’s social security number when you get ready to file your taxes? When should you consider using an Adoption Taxpayer Identification Number (ATIN #) or Individual Taxpayer Identification Number (ITIN #)?How does the Adoption Tax Credit work with kinship adoptions? What if the child never was involved with the foster care?What are the most common questions received about the Adoption Tax Credit?How to find a tax specialist knowledgeable on the Adoption Tax Credit?This podcast is produced by www.CreatingaFamily.org. We are a national non-profit with the mission to strengthen and inspire adoptive, foster & kinship parents and the professionals who support them. Creating a Family brings you the following trauma-informed, expert-based content:· Weekly podcasts· Weekly articles/blog posts· Resource pages on all aspects of family buildingCreating a Family also has an active presence on many social media platforms. Please like or follow us on Twitter, Facebook, LinkedIn, Pinterest, and

Get the latest information that will make a huge difference in your adoption cost. Becky Wilmoth answers the most pressing adoption questions about adoption taxes. This information is a game changer! Sorry about the sound quality-Help-We need a volunteer podcast producer. Get in touch: Twitter: @AdoptDiscovery Facebook: @AdoptionDiscovery Join the AdoptionDiscovery.org Adoption University program here: https://adoptiondiscovery.org/ Order a copy of Bridgette's new book on Amazon Smile ( choose Adoption Discovery): 10 Things You Need To Know Before You Adopt For more information about Sponsoring this podcast or any other Adoption Discovery events admin@adoptiondiscovery.org If you like this episode, please subscribe, leave a 5 star review and tell your friends!

If you have adopted within the last several years or even if you are in the process of adopting, you need to understand the Adoption Tax Credit for 2019. We talk with Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist with Bills Tax Service in Illinois and Josh Kroll, Adoption Tax Credit specialist at the North American Council on Adoptable Children (NACAC).Support the show (https://creatingafamily.org/donation/)

Did know the IRS will offset some of the costs by giving people a tax credit? For adoptions finalized in 2019, the new parent can claim a credit of around up to $14,000 per child. In this podcast, we cover how this credit can financially aid in the adoption process.

When we adopted all 3 of our kids, we had so many questions about the adoption tax credit. Can we claim our new toddler on our taxes? What is considered a qualified adoption expense? How do I maximize the adoption tax credit to its fullest? I don't have a tax liability, can I still claim my adoption tax credit. In today's episode, I tracked down our accountant, Daniel Peterson, CPA, before his busy season started and I asked him 20 Questions About Adoption. He even gave me some bonus material at the end. Find out how you can use the Adoption Tax Credit to it's fullest in today's Family Money Coaching podcast episode. --- Support this podcast: https://anchor.fm/laura-coleman/support

Host Dawn Davenport, Executive Director of Creating a Family, the national infertility & adoption education and support nonprofit, interviews Rebecca Wilmoth and Josh Kroll about the Adoption Tax Credit 2018. Josh Kroll is an Adoption Subsidy Resource Center coordinator at NACAC; and Becky Wilmoth is an Enrolled Agent and Adoption Tax Credit Specialist with Bills Tax Service. Creating a Family has many free resources related to this topic on our website at www.CreatingaFamily.org. Please leave us a review on iTunes. Thanks. Click to Tweet: https://twitter.com/home?status=New%20show%3A%20Adoption%20Tax%20Credit%202018%20https%3A//creatingafamily.org/adoption-category/adoption-tax-credit-2018/ Share on Facebook: https://www.facebook.com/sharer/sharer.php?u=https%3A//creatingafamily.org/adoption-category/adoption-tax-credit-2018/ Show Highlights: https://creatingafamily.org/adoption-category/adoption-tax-credit-2018/ Support the show (https://creatingafamily.org/donation/)

Host Dawn Davenport, Executive Director of Creating a Family, the national infertility & adoption education and support nonprofit, interviews Josh Kroll, Adoption Subsidy Resource Center coordinator at NACAC; and Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist.  Creating a Family has many free resources related to this topic on our website at www.CreatingaFamily.org. Please leave us a review on iTunes. Thanks. Share on Facebook: https://www.facebook.com/sharer/sharer.php?u=https%3A//creatingafamily.org/adoption-category/adoption-tax-credit-2017-3/ Click to Tweet: https://ctt.ec/Ncda_ Show Highlights: https://creatingafamily.org/adoption-category/adoption-tax-credit-2017-3/ Support the show (https://creatingafamily.org/donation/)

Matt, Travis and Jeff discuss the previous week's Capitol Hill drama surround the attempted elimination of the Adoption Tax Credit. The Conscience Protection Act gains momentum, and an update on how the DACA conversation is going. And, the ERLC is now accepting applications for internships for spring and summer 2018. Conscience Protection Act To be really pro-choice, you must protect each doctor's choice to not perform abortions – USA Today – Cardinal Dolan & Russell Moore Expand Scope of Conscience Protection Act of 2017 – National Review Conscience Protection Act: What It Is and Why It's Needed – Speaker Ryan Adoption Tax Credit Why the Adoption Tax Credit Matters – ERLC Dear Republicans, Save the Adoption Tax Credit – National Review SBA List on House GOP Tax Reform Bill Save the Adoption Tax Credit! – Focus on the Family Why Would Republicans Scrap the Adoption Tax Credit? – The Weekly Standard Take Action – March For Life Action Save the Adoption Tax Credit (video) – Erick Erickson (text) Coverage of ATC drama Pro-life lawmaker urges GOP to save the adoption tax credit – Congress – WORLD Push to restore adoption credit gains steam | TheHill 3 reasons the adoption tax credit shouldn't be cut from the Republican tax plan | America Magazine House Bill Would Strip Adoption Tax Credit – WSJ Tax reform: GOP debates proposal to eliminate federal adoption tax credit – USA Today iTunes | Google Play | Stitcher | Tune in

Matt, Travis and Jeff discuss the previous week’s Capitol Hill drama surround the attempted elimination of the Adoption Tax Credit. ...

Matt, Travis and Jeff discuss the previous week’s Capitol Hill drama surround the attempted elimination of the Adoption Tax Credit. ...

Adoption Tax Credit Why the Adoption Tax Credit Matters – ERLC Dear Republicans, Save the Adoption Tax Credit – National Review SBA List on House GOP Tax Reform Bill Save the Adoption Tax Credit! – Focus on the Family Why Would Republicans Scrap the Adoption Tax Credit? – The Weekly Standard Conscience Protection Act Expand Scope of Conscience Protection Act of 2017 – National Review Conscience Protection Act: What It Is and Why It's Needed – Speaker Ryan

Adoption Tax Credit Why the Adoption Tax Credit Matters – ERLC Dear Republicans, Save the Adoption Tax Credit – National ...

Adoption Tax Credit Why the Adoption Tax Credit Matters – ERLC Dear Republicans, Save the Adoption Tax Credit – National ...

Host Dawn Davenport, Executive Director of Creating a Family, the national infertility & adoption education and support nonprofit, interviews Josh Kroll , Adoption Subsidy Resource Center coordinator at NACAC. Becky Wilmoth, an Adoption Tax Credit Specialist at Bills Tax Service. Creating a Family has many free resources related to this topic on our website at www.CreatingaFamily.org. Please leave us a review on iTunes. Thanks. Click to Tweet: http://ctt.ec/1Ke7E Facebook Share: https://www.facebook.com/sharer/sharer.php?u=https%3A//creatingafamily.org/adoption-category/adoption-tax-credit/ Show Highlights: https://creatingafamily.org/adoption-category/adoption-tax-credit/ Support the show (https://creatingafamily.org/donation/)

Host Dawn Davenport, Executive Director of Creating a Family, the national infertility & adoption education and support nonprofit, interviews Becky Wilmoth, an Adoption Tax Credit Specialist at Bills Tax Service, and Josh Kroll, Adoption Tax Credit Coordinator at the North American Council on Adoptable Children (NACAC). For a discussion of this show, go to our blog tomorrow http://creatingafamily.org/blog/.  Creating a Family has many free resources related to this topic on our website at www.CreatingaFamily.org.  Please leave us a review on iTunes. Thanks.   Click to Tweet: http://ctt.ec/81Tnb Share on Facebook: https://www.facebook.com/sharer/sharer.php?u=https%3A//creatingafamily.org/adoption-category/adoption-tax-credit-2016/ Show Highlights: https://creatingafamily.org/adoption-category/adoption-tax-credit-2016/ Support the show (https://creatingafamily.org/donation/)

Guest: William Perez What tax credits are available to you? How can you reduce your tax base when adopting? The vocabulary and basics of these topics will be covered so you can be better prepared! The post Answers to Your Adoption Tax Credit Questions appeared first on Let's Talk Adoption.

It's time for our annual adoption tax credit show. If you had adoption expenses in 2014, can you get a federal tax credit for them? Is this tax credit applicable to foster care adoption, or international adoption, or infant adoption? Can you claim birth mother expenses. Host Dawn Davenport, Exec. Director of Creating a Family, the national infertility & adoption education and support organization, will interview Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist® at Bills Tax Service, and a frequent speaker on this topic. We also have Josh Kroll, Adoption Tax Credit and Adoption Subsidy Coordinator at the North American Council on Adoptable Children (NACAC).   Blog summary of the show and highlights can be found here:   Highlights   More Creating a Family resources on the adoption tax credit can be found here. Support the show (https://creatingafamily.org/donation/)

In this episode of the Fund Your Adoption Podcast, I interview Becky Wilmoth. She is a registered tax return preparer and Adoption Tax Credit Specialist with Bill’s Tax Service, licensed in all 50 states. She is an expert on the Adoption Tax Credit, regular speaker at national adoption conferences and guest writer for Adoption Today Magazine. She has helped hundreds of families successfully claim the Adoption Tax Credit.

The adoption tax credit. It’s a huge financial tool for hopeful adoptive parents to use. Something that can help offset the large cost of domestic infant adoption. The credit has changed over the years – and may change again in the future. There are a lot of rules that go with it, which makes it […]

The state legislature passed a bill this session that would grant a tax credit to families that adopt in Indiana.

The adoption tax credit is a great way to help fund your adoption, though it is often underutilized. Host Dawn Davenport will interview two of the leading experts on this confusing tax credit: Donald Cofsky, President of the American Academy of Adoption Attorneys and Josh Kroll, with the North American Council on Adoptable Children. adoption tax credit, adoption tax credit 2013, adoption, foster care adoption, failed adoption, international adoption Highlights of this show can be found here: Highlights For more information on the Adoption Tax Credit, click here. Support the show (https://creatingafamily.org/donation/)