This course is designed for adoption professionals and pre/post-adoptive families.
1- Hour Online Audio Course (Certificate of completion will be immediately awarded upon successful completion of the course including passing a 10-question quiz with a grade of 80%)
What do you need to know to file for the adoption tax credit in April 2018 for your 2017 taxes? In this course, Josh Kroll, the Adoption Tax Credit specialist at NACAC; and Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist at Bills Tax Service, discuss how you can make the most of the 2017 adoption tax credit.
This course includes:
- What is a “credit” and how does it differ from a deduction or some other form of tax savings?
- What type of adoptions are included or excluded?
- How does the adoption tax credit differ with different types of adoption?
- What happens if you complete two separate adoptions in one year? In two consecutive years? What about adopting siblings at the same time?
- What is a qualified adoption expense for purposes of the adoption tax credit?
- When can you claim the Adoption Tax Credit?
- What income level is excluded from claiming the 2017 Adoption Tax Credit? How is your income determined?
- What if you can’t use all the credit in one year because you don’t have $13,570 in federal tax liability? How long can the credit be carried over?
- Will the Adoption Tax Credit offset self employment tax, or will it only offset income tax liability?
- What type of documentation should you submit with your taxes? What type of documentation should you keep in your records?
- Does the adoption tax credit apply to kinship adoptions?
Please contact the Education Director for technical assistance or disability accommodations.
Image credit: Mark Harrington