| Adopting a baby is not cheap. Hundreds of thousands | | | | theirs biologically. This gives adoptive parents a |
| of hopeful parents give up their dreams of adopting | | | | reduction in their taxable income. |
| a child each year because of the costs involved. This | | | | Second, be aware of your benefits. If you are an |
| is unfortunate, because these people do not realize | | | | employee, you might want to ask your employer if |
| that there are many possible sources of funds when | | | | they provide assistance for adoptive parents. Some |
| it comes to prospective adoptive parents. Both the | | | | employers offer a cash benefit to those who adopt |
| private sector and the government have their own | | | | a baby, in accordance to a program initiated by the |
| ways of assisting people who wish to adopt a child. | | | | government. |
| First, you must be aware that adopting a baby | | | | Lastly, employees of the federal government, |
| carries certain tax benefits, such as the federal | | | | including military personnel, also have benefits related |
| adoption tax credit. This is a deductible amount issued | | | | to baby adoption, such as extended leave times and |
| to adoptive families, and is applied to the expenses | | | | reimbursement for expenses related to the adoption |
| incurred during the adoption process. In addition to | | | | process. |
| this incentive, many states offer other tax breaks to | | | | Adopting a baby can be expensive, but by being |
| adoptive parents. An example is when adoptive | | | | aware of your sources of funding, you can drastically |
| parents are allowed to claim a dependency | | | | cut on the costs involved. |
| exemption for their children, whether or not they are | | | | |