| A baby adoption is not an inexpensive process. Many | | | | Adoption Assistance Benefits Program. This program |
| hopeful parents discard the idea of a baby adoption | | | | allows employers to reimburse a baby adoption with |
| early because they do not realize that there are both | | | | a cash benefit. If your employer does not participate |
| private and government resources that are available | | | | in this program, you may request material to provide |
| to help prospective adoptive parents, which will aid in | | | | your employer in an effort to request adoption |
| the costs associated with travel, agency fees and | | | | assistance by contacting the National Adoption |
| additional spending.There are several tax benefits | | | | Center.Both federal employees and military personnel |
| associated with baby adoption, which include the | | | | are eligible for baby adoption benefits, which vary |
| Federal Adoption Tax Credit. This amount is a credit | | | | from extended leaves and/or reimbursement of up |
| issued for adoptive families on qualified expenses | | | | to $2,000.00 after the baby adoption is |
| related to a baby adoption. Allowable expenses, in | | | | finalized.Employees of Harvard University are also |
| this case, are subtracted from the current tax liability. | | | | eligible for baby adoption assistance directly from the |
| In addition, a number of states offer a tax credit in | | | | Harvard Adoption Assistance Plan. Under this |
| addition to the previously mentioned federal tax | | | | program, up to $5,000.00 may be granted for |
| credit. When it comes to taxes, adoptive parents are | | | | expenses relating to the adoption of a child with |
| allowed to claim the same dependency exemption as | | | | financial need not being a factor.In addition to these |
| for their biological children. This exemption provides a | | | | options, there are grants specifically designed to help |
| reduction in taxable income.In addition to tax | | | | prospective parents with expenses relating to the |
| assistance, a number of employers participate in the | | | | adoption. |