Thursday, January 04, 2007

Referrals just came out!


I also just learned that the 2007 Federal adoption tax credit is now $11,390.

4 comments:

Soap Opera girl said...

What does that mean for you guys?

Shayla's Mom said...

As far as the referrals (or the match with the baby) to log-in-date (or LID) 9/27/05, that just means that the CCAA (the agency who matches parents and babies) got that far this month. Our LID is 11/21/05, so we still have a few months to wait.

As far as the tax credit, when we get Shayla in 2007 and do our 2007 taxes, whatever amount of money we paid in federal taxes, we can get back...up to $11,390.00. So if Mark and I paid $9,000.00 in taxes from working, then when we file our taxes, we will get that amount back. Then whatever amount is left over that we haven't claimed can be carried over to the next year. I think the longest it can be carried over is 3 years.

Soap Opera girl said...

Cool that sounds like a pretty good deal about the taxes it is getting closer huh.

tonyap said...

wThat is great for you on the tax credit. It will just help you as far as paying off what ever you may have to borrow for the adoption.