Adoption Tax Credit

I'm obviously out of the loop, but I just found out that if action isn't taken soon the Adoption Tax credit will expire in 2010.  For those of you that don't know this is a tax credit given after finalization to help you cover the cost of adoption.  It's actually tied to your tax liability so it isn't a tax credit like the earned income credit.  BUT, it is VERY helpful when trying to finance an adoption.  Most adoptions through an agency cost $20,000 or more depending on the situation.  It is rather difficult to get a loan for the amount unless you own a home since it isn't like buying a car where the car can be the collateral.  Anyway...if it weren't for this tax credit many adoptive families won't be able to continue in their plans to adopt. 

It's frustrating enough not having a whole lot of control in building your family, but add into that the fact that there's no insurance that will cover adoption like pregnancy is covered plus the high cost and it makes things even more frustrating for those who want to build their families through adoption. 

If you want more information you can look here and here.  If you would like to help make the adoption tax credit continue please contact your Senator Here and your congressman Here

Thanks for helping keep adoption an option for all families.