Episode Details

Adopting a child? Dr. Friday shares good news about the updated adoption credit—now refundable and easier to claim starting in 2025.

Transcript

G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.

There has been some helpful easing of the adoption credit. First, I’d like to thank anyone that’s ever adopted a child. I think that’s an awesome thing to do, and to be able to get some financial help from your taxes—another financial wonder.

So beginning in 2025, up to a $5,000 credit, adjusted for inflation, is refundable when you’re dealing with an adoption. Sometimes we didn’t have that, right? Sometimes you could take off your expenses, you got reimbursed for them, it would roll over.

This is pretty straightforward, and this way you get a little extra money to help put in your pockets and raise those perfect little babies. 615-367-0819.

You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN