| While many adoptions can be quite costly, there are | | | | About 25% of companies in the U.S. offer some |
| financial programs and resources available to help you | | | | type of adoption benefits to their employees. Typical |
| if you know where to look. Here are just a few | | | | benefits might include paid leave, unpaid leave or |
| programs to think about. | | | | reimbursement of adoption expenses. Contact the |
| You may be able to reduce the cost of your | | | | human resources office where you work. |
| adoption by applying for an adoption tax credit on | | | | Some families use their credit cards to accumulate |
| your federal tax return. The credit is up to $10,000 | | | | frequent flyer miles to reduce costs of air fare. Some |
| per adoption. This tax credit benefits moderate | | | | families take out a 2-4 yr. personal loan to cover |
| income families the most as it phases out high | | | | adoption expenses. |
| income families. The phase out starts once your | | | | There are many companies that can help you have a |
| adjusted gross income reaches $150,000. The tax | | | | fundraiser in which you can raise some cash quickly. |
| credit is totally eliminated once gross income reaches | | | | Some families have spaghetti dinners at their church |
| $190,000. | | | | or gather pledges at a race or walkathon. Be |
| Qualified adoption expenses include adoption fees, | | | | creative...people do enjoy helping for good causes like |
| attorney fees, travel costs, meals and lodging. To | | | | adoption. If you are determined to add a child to |
| learn more about the Federal Adoption Tax Credit | | | | your family, then you will find the money needed. |
| you should consult a tax professional and the IRS | | | | Best of luck to you! |
| Publication 968. | | | | |