Post-Adoption Tax Credits in Georgia

 In Georgia, the state provides a major boost for families who want to adopt. If someone adopts a child from the foster care system, they qualify for a state tax credit of $6,000 per year for the first five years, and $2,000 every year after that until the child turns 18. 

That was the deciding factor for the Fryes*. They had been fostering Jasmine* for 4 years but were worried they wouldn't be able to care for her after 18 since college is so expensive.

With the help of a financial advisor, we were able to set up a 529 and use the savings as seed money. 

Now they spend every weekend going to cheer competitions without the pressure of needing a cheer scholarship for college.

*Names changed for confidentiality