Wood Presents Tax Benefits for Adoption

March 19, 2009

Among the many concerns faced by adoptive families, affording the adoption process itself may present a significant challenge. Fortunately, assistance is available to families in the form of state and federal adoption tax credits. At the Adoption Academy, hosted by the National Center for Adoption Law and Policy and Nationwide Children’s Hospital, Capital University Law School Professor Richard J. Wood presented a class to assist families in understanding these complex issues.

A tax law expert, Professor Wood’s presentation, “Tax Benefits of Adoption,” reviewed:

• Federal and state tax credits for adoption-related expenses, including the differences in tax credits for international versus domestic adoptions.
• Federal and state tax credits associated specifically with the adoption of special needs children.
• The taxability of adoption benefits (such as employer-provided adoption benefits).
• Other important tax-related issues for families to consider.

The presentation was attended by prospective adoptive parents in Columbus and Akron, as the program was offered via a web cast to Akron Children’s Hospital. Wood’s class was part of a 12-week series of courses offering prospective adoptive parents objective information on the adoption process and related legal, social, emotional, medical, and financial considerations. The overarching goal of the Adoption Academy is to bring information together in a comprehensive and sensitive manner to help prospective adoptive parents make informed choices.

For more information about the Adoption Academy, visit the National Center for Adoption Law and Policy web site.