Tax Credit

Adoption Tax Credit in Glen Burnie, Maryland​

Did you know that you may be eligible for a tax credit upon successfully completing the adoption of your new child, age 17 or under, by December 31, 2014? The credit covers attorney fees and related expenses, court costs, home studies, travel expenses, and adoption fees. If the details of your adoption require you to pay the attorney fees and expenses for the natural parent or the child, those fees are eligible for the tax credit as well.

Your credit will only include the amount which you actually paid, but it does max out at $13,190. Adoptive parents of special needs children are eligible to receive the full amount. When calculating the expenses, you may only include costs that you paid out of pocket. Costs paid for, or reimbursed by, your employer, an organization or another individual cannot be included. Additionally, there is a phase out range, which will reduce the amount of the credit, for high income earners. This tax credit will assist in reducing your overall tax burden for the year; you will not be given a refund of the amount which you have paid.

To ensure that you meet all the qualifications, and to understand the nature of the adoption tax credit, you should contact your accountant. They can also assist you in calculating how much of the credit you can take for adoptions that span more than one calendar year. They can explain all of the details of the adoption tax credit and help you claim it when you file your taxes.

Work With Mummert Law Firm

For more than a decade, Attorney Timothy Mummert has been a Maryland adoption lawyer. He understands the complexities of terminating the natural parents’ rights and granting them to the adoptive parents, and handles every case with excellent service and compassion. For more information on adopting or how you can claim the tax credit for your adopted child, contact Mummert Law Firm today.