Tag Archives: tax credits

A Big Difference for Adopting Parents: the Adoption Tax Credit Renewed and Expanded

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Whatever you think of the new health care legislation, adoptive parents will realize one benefit: the Adoption Tax Credit, which was set to expire this year, will be renewed through December 21, 2011. The maximum reimbursable limit for adoption-related expenses was raised from $12, 150 to $13, 170. In addition, the Adoption Tax Credit will benefit families who have no taxes or a very small amount of taxes due, because it is now refundable. The credit lessens for adopters with income of over$ 180,000 per year, and continues to lessen as incomes go up until it is eventually phased out. … Continue reading →

2009 Tax Credits for Home Improvement

Tax credits for energy efficient home improvement projects are back again. This is good news for many of us who have older homes that need some improvement. Of course, there are no tax credits for last year (2008), which means that the insulation we put in over the family room attic will not qualify. However, since we aren’t done yet with our energy efficient improvements, I am sure that we will be able to take advantage of this credit. The bill was signed into law on October 3, 2008 by President Bush. It provides for tax credits for energy efficient … Continue reading →