The first is regarding the adoption tax credit. This tax credit is currently set for $12,650 for year 2012 but this is the last year that this credit will be offered as the bill that sets this credit expires at the end of the year. Some websites say the credit goes away completely, others say it reverts to the pre-2001 credit of only $5,000. Either way, Brandon and I will take a HUGE hit if this were to happen. The bad part is that we can only take this credit if we adopt and finalize by the end of this year. Otherwise we'd only be able to deduct the fees we paid in 2011 which are small, about $3,000. Brandon and I have discussed what we would do if we weren't able to take advantage of this tax credit and unfortunately we're leaning toward giving up on adoption if that were to happen. Adoption is so very very expensive, to lose $7,000+ in a tax credit would be terrible.
There is currently a petition rolling around to have this adoption tax credit extended. There is also a bill that just started and is in the committee stage of becoming a law. Please please please sign this petition and write a letter to your Congressman showing your support of this bill! Here is the information from the petition about the bill:
Right now there is a bill that is trying to get passed and if it goes through there will be a PERMANENT tax credit put in place. (S. 82: Adoption Tax Relief Guarantee Act)
There are some key politicians that we need to send letters/emails supporting our cause. The following politicians are sponsors of this Adoption Bill. If you reside in one of these states it is extremely important that you send some type of communication to them expressing your support:
Richard Burr [R-NC]
Robert Casey [D-PA]
Thad Cochran [R-MS]
Kirsten Gillibrand [D-NY]
Kay Hutchison [R-TX]
Tim Johnson [D-SD]
Amy Klobuchar [D-MN]
Pat Roberts [R-KS]
John Thune [R-SD]
In addition to these Finance Committee members:
Sen. Max Baucus [D-MT]
Sen. Orrin Hatch [R-UT]
Sen. Jeff Bingaman [D-NM]
Sen. Richard Burr [R-NC]
Sen. Maria Cantwell [D-WA]
Sen. Benjamin Cardin [D-MD]
Sen. Thomas Carper [D-DE]
Sen. Thomas Coburn [R-OK]
Sen. Kent Conrad [D-ND]
Sen. John Cornyn [R-TX]
Okay, so that's enough about the tax credit. The other information I want to spread is a new non-profit organization called Birth Mother Baskets. This wonderful organization sends gift baskets to new birthmoms expressing their support and encouragement. These baskets contain things like journals, candles, nice smelling bath stuff, CD's, photo albums and the like. They're always in need of donations so if you can, please send them a donation or help spread the word about their organization. I think what they're doing is a wonderful idea and I hope that my future birthmom is a recipient of one of these great baskets!
Do you not think your adoption will be finalized by December 2012?
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