Adopting a child can be a long journey with financial implications. This year, the U.S. government offers an adoption tax credit of up to $15,950 in 2023 increasing to $16,810 in 2024 to assist adoptive parents with the costs associated with the adoption process. How does the tax credit work? A credit is better than a deduction, it is a straight refund of qualified adoption expenses up to the annual tax credit in expenses. So, if you have $3000 in taxes for a year, and had
