Liberated

Congress Extends Adoption Tax Credit

January 2, 2013 – Alexandria, VA – Late Tuesday night, Congress passed the American Taxpayer Relief Act which will become law upon President Obama’s signature. Amongst the provisions of this Act was an extension of the adoption tax credit.
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Complete details of implementation are still to be seen, but the bill permanently extends the adoption tax credit which is set at $10,000, but may once again be scaled for inflation, potentially bringing it to near the 2012 amount of $12,650. Families with incomes under $150,000 will receive the full credit and it will gradually phase out for higher incomes.

“Congress is to be commended for remembering children and families as a priority. The adoption tax credit is an important layer of support for families who adopt. The credit helps ensure children find their way to safe, stable, loving, and permanent families” says Megan Lindsey of National Council For Adoption. “We are grateful to Congress, the Obama administration, and our many partnering advocates in the Save the Adoption Tax Credit Working Group for their tireless efforts on behalf of this important credit.”

For those of you who don't know adoption is EXPENSIVE.  Ella's adoption cost me more than my brand new SUV, and about half of my years gross income. Recently adoption costs have been skyrocketing, and I have been trying to resolve to myself that Ella will be an only child even though my original intention was that I would adopt a sister down the road. I simply can't afford to live the lifestyle I am comfortable with paying for another adoption and another child. Today this may have changed. Backtrack to Ella's adoption, I got her just under the wire to receive a tax rebate of 13k. Her adoption was finalized on December 19, 2011. If that had happened even 2 weeks later I would have lost that money making adoption really quite out of my reach especially for a second time. Now it appears as there will likely be a permanent tax incentive making adoptions financially "reachable" for families that may have not been able to otherwise. It also means that if I so choose I could pursue another adoption. I feel liberated in that I will have a choice. I may not choose to actually do it, but it will be an option.
All of this being said, who knows what will happen in domestic adoptions in the next couple of years. Russia closing may change the dynamics substantially, but as of now this new development has brought me peace in the fact that I will have a choice and not that a choice will automatically be made for me.

And because I know everyone is here for pictures here are some from Christmas