Thursday, March 25, 2010

praising the Lord this morning!

i awoke this morning to some good news on my google reader and i wanted to share it!

the adoption tax credit has been extended for 2011!!!!!!!!

one of our biggest concerns as we have embarked on this adoption journey was whether or not the adoption tax credit would get renewed after 2010. up until this point, there has been a tax credit in place of $12,170 to help alleviate the costs of adoption. however, this tax credit was set to sunset at the end of 2010. since we're just now in the early stages of our adoption, the likelihood of all going smoothly and quickly enough for us to have passed court with our child by the end of 2010 is not very high. ryan and i were fretting quite a bit because the tax credit would be a huge help in making our adoption possible and the chance of it not getting renewed was very scary!

however, according to Christian Alliance for Orphan's blog, the credit is not only renewed through 2011, it's also improved!!! {now, please don't hold me liable if i do not explain all the details correctly...i have a brain for marketing, not accounting!!} from what i understand, it looks like the tax credit has increased to $13,170 and is also going to be refundable. so, where the previous tax credit was only applicable to the amount families actually paid in taxes, the new credit is allowed even for families who pay zero taxes.

this is very exciting news for the orphan community and adoptive families alike! our agency just reported that international adoption rates are at around half of what they were 4 years ago, so this is very welcome news at a hard time for waiting orphans around the globe.

{and blessed is she who believed that there would be a fulfillment of what was spoken to her from the Lord. -Luke 1:45}

woohoo!! thank you Lord for your provision for us and more importantly for the orphaned!!

3 comments:

Bethany Meacham said...

PRAISING THE LORD WITH YOU LESLI!!! That is great news!! The Lord provides! =) So excited to walk through this adoption experience with you all! Can't wait to see the Lord's plans for your family unfold!

Trish said...

Oh, Lesli! I am so excited for you all to hear you are going to adopt internationally! I can't wait to hear all about it! If you need an ear to bend, I've been there! A friend once told me, God has already chosen your child, so HE knows the Ryan children who are awaiting you all! Praying for you all continually! love, Trish

Heather said...

I'm a little behind, but congratulations to you guys! What an exciting time in your lives and praise God for how He is working in your family! Will be praying for you all as you begin this process of adding to your family!