| y adoption is not an inexpensive process. Many | | | | Both federal employees and military personnel are |
| hopeful parents discard the idea of a baby adoption | | | | eligible for baby adoption benefits, which vary from |
| early because they do not realize that there are both | | | | extended leaves and/or reimbursement of up to |
| private and government resources that are available | | | | $2,000.00 after the baby adoption is finalized. |
| to help prospective adoptive parents, which will aid in | | | | Employees of Harvard University are also eligible for |
| the costs associated with travel, agency fees and | | | | baby adoption assistance directly from the Harvard |
| additional spending. | | | | Adoption Assistance Plan. Under this program, up to |
| There are several tax benefits associated with baby | | | | $5,000.00 may be granted for expenses relating to |
| adoption, which include the Federal Adoption Tax | | | | the adoption of a child with financial need not being a |
| Credit. This amount is a credit issued for adoptive | | | | factor. |
| families on qualified expenses related to a baby | | | | In addition to these options, there are grants |
| adoption. Allowable expenses, in this case, are | | | | specifically designed to help prospective parents with |
| subtracted from the current tax liability. In addition, a | | | | expenses relating to the adoption. These include A |
| number of states offer a tax credit in addition to the | | | | Child Waits Foundation, Hebrew Free Loan |
| previously mentioned federal tax credit. When it | | | | Association, Funds 4 Families, A Mother’s |
| comes to taxes, adoptive parents are allowed to | | | | Love Fundraising, Community Fundraisers, The |
| claim the same dependency exemption as for their | | | | National Adoption Foundation, Ours By Grace and |
| biological children. This exemption provides a reduction | | | | United Way International. |
| in taxable income. | | | | As a final option in assistance with funding a baby |
| In addition to tax assistance, a number of employers | | | | adoption, individuals may consult with their local bank |
| participate in the Adoption Assistance Benefits | | | | or credit union regarding loan programs for adoptive |
| Program. This program allows employers to reimburse | | | | families. Others may choose to use their savings |
| a baby adoption with a cash benefit. If your | | | | account or cash out the equity in their home to |
| employer does not participate in this program, you | | | | make an adoption happen. If you ask most adoptive |
| may request material to provide your employer in an | | | | parents, money is no object when it comes to the |
| effort to request adoption assistance by contacting | | | | love of a child and the joy that he/she brings into the |
| the National Adoption Center. | | | | life of loving parents. |