Our northern neighbor, Canada, is one country that does offer a tax credit almost identical to that of the United States. Their credit also has its own guidelines and will vary based on the type of adoption. According to Canada’s official website for their government entities, adoption in Canada will allow for a tax credit that will substantially help during tax time! The website states, “As a parent, you can claim an amount for eligible adoption expenses related to the adoption of a child who is under 18 years of age. The maximum claim for each child is $15,670. You can only claim these incurred expenses in the tax year including the end of the adoption period for the child.” 

On the opposite hand, Sweden does not have a tax credit available; however, ALL children who are born or adopted to Swedish parents are eligible for some quite generous benefits! According to Adoption Scentrum, “Once the adoption process has been completed, the child acquires the same rights as if it had been born in the family. Adoptive families are therefore entitled to the same social benefits as other families. They are allowed to stay at home with the child and be financially compensated for 16 months. Parents can get this benefit starting from the day the child is placed into their care. Single adoptive parents can get a single parent allowance. When adopting from another country through an authorized adoption organization, you are entitled to an adoption allowance.

“All families in Sweden get a child allowance for children up to 16 years of age, which can be prolonged up to 20 years of age if the child studies. Furthermore, all children in Sweden have the right to free public education, including university level. School lunches are provided free of charge up to high school level. Healthcare and dental care are also free of charge for children, and medicines are subsidized. Parents are entitled to temporary parental benefits when caring for a sick child.”

Read more for further information about adoption benefits in other countries. 

The post Do Foreign Countries Have an Adoption Tax Credit? appeared first on US Adoption Tax Credit | Cost, Special Needs, Foster Child.

1. The credit can be used towards all qualifying adoption fees.
2. The maximum credit as of 2017 is $13,570.
3. Any adoption that is considered ‘special needs’ automatically qualifies for the maximum credit regardless of the out-of-pocket cost. This is done in an attempt to find families for children who would otherwise be hard to place even in situations where most of the adoption fees are waived.
4. The adoption credit cannot be used for stepchild adoptions.
5. Adoptive families who earn $243,540 per year or more are not eligible for the credit.
6. About half of the adoption credits claimed are used in the domestic adoption of children without special needs.
7. Roughly 18% is claimed by those adopting children with special needs.

The post 7 Things You Didn’t Know about the Adoption Tax Credit appeared first on US Adoption Tax Credit | Cost, Special Needs, Foster Child.