Adoption Issues

Tax Credits, Exclusion for Adoptions

Tax credits are available in 2008 to help parents offset the cost of adoption. An $11,650 credit is available to cover "qualified adoption expenses." Adoptive parents can also deduct up to $11,650 of expenses paid by an employer.

"To qualify for the credit for the exclusion, the expenses must be 'qualified adoption expenses.' These are the reasonable and necessary adoption fees, court costs, attorney fees, traveling expenses (including amounts spent for meals and lodging) while away from home, and other expenses directly related to the legal adoption of an 'eligible child.'"

Surrogate parenting is not included in the tax credit, nor is adoption of a spouse's child. Expenses associated with an unsuccessful adoption attempt may also qualify. Source: Ft. Collins Coloradoan

Labels: adoption_costs, credits, tax_deductions

Public Adoptions Hit Record High in Florida

Public adoptions in the state of Florida hit an all-time high this past fiscal year, with more than 3,600 adoptions being processed. The annual total is up nearly 600 from the previous year, and 300 from the previous record high, which was reached in 2004.

"[Bob] Butterworth and Jim Kallinger, the state's chief child advocate, said Florida's new Explore Adoption advertising campaign is especially helping teens and older children, sibling groups and children with disabilities."

The only part of the state that saw adoptions decrease was Southern Florida, but the decrease was attributed not to a lack of interest, but to a lack of adoptable children. It's a good problem to have, authorities said. Source: Southwest Florida News-Press

Labels: adoption_costs, public_adoption

Couple Plans 'Adoption Yard Sale'

It's no secret that adoption is neither easy nor cheap. A Benton, Kentucky, couple is hoping to ease some of the financial burden with a unique yard sale.

"The Riley's front yard is the place they plan on setting up all those donated items for sale, but you won't find any price tags. 'We're going to let people come in on that day and pay us what they think they items are worth or what they would like to donate toward our adoption,' said Lee Ann."

The goal of the August 9 yard sale is to raise just over $20,000, which will cover attorney and agency fees, birth mother expenses, legal fees, medical expenses and the cost of parenting classes. Source: WPSD Channel 6 (Kentucky)

Labels: adoption_costs, donations, financial_assistance

Church Offers No Fee Adoptions

Adoption is a special subject to Paul Ury. Both he and his father were adopted as children. So when it was Paul's turn to have a family of his own, he wanted to adopt but didn't think he and wife Tina could afford it. Then a friend told them about Antioch Adoptions.

"It all started with a 12-year dream of Antioch's pastor, Dr. Ken Hutcherson. He desired to see all children from the foster care system adopted into loving homes. He also desired for more families to be able to afford infant adoptions. The services offered by Antioch Adoptions are free of charge."

Through Antioch, Paul and Tina were able to adopt 5-year-old Amanda and 4-year-old Hannah. Though Antioch Adoptions' free service is currently available only to Washington State residents, the church has started an awareness campaign to help churches in other states develop similar programs. Read more at CBN.com.

Labels: adoption_costs, agencies, foster_care

Federal Dollars made Available for Tribal Foster Care, Adoption

Senator Max Baucus (D-Mont.) has introduced legislation that would provide Indian Tribes with the same access to foster care and adoption funding that's currently available to states. Called The Tribal Foster Care and Adoption Act of 2007, the funding will allow Native American tribes to develop foster care and adoption programs.

"The Baucus proposal amends the Social Security Act to allow Tribes to receive direct reimbursement for eligible costs related to foster care services, adoption assistance services, employee training and education, administrative costs related to case planning and case management, and establishment and operation of required data collection systems."

Under the new legislation, Native American foster care and adoption programs would have to meet the same requirements as state programs. Read more at NativeTimes.com.

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Labels: adoption_costs, adoption_programs, foster_care

Couple Gets Creative to Raise Adoption Funds

Steve and Stephanie Johnson need about $19,000 to fulfill their dream of adopting a little girl from China. Because they don't have the money on hand, they've had to get creative in thinking of ways to raise the money. This Saturday, they're having a garage sale.

"For the last three weeks, the garage and basement of their Ellis Street home have been stocked with clothing, bicycles, exercise equipment, appliances, toys and other items donated by friends from throughout Wisconsin and from as far away as Minneapolis and Kansas."

The Johnsons expect to have their adoption file sent to China by late June or early July. Twelve to eighteen months after that, they hope to be matched with a little girl. Read more at StevensPointJournal.com.

When your adopted child grows up, a boarding school may be the best option for you and your family. Find the best boarding schools at BoardingSchoolsInfo.com.

Labels: adoption_costs, China, money

Georgia Company Named "Adoption-Friendly"

The Dave Thomas Foundation for Adoption recently named Wayne Farms LLC in its top-10 list of Best Adoption-Friendly Workplaces in the food, beverage and restaurant industry. The company is located in Oakwood, Georgia and employs over 9500 people in 13 facilities in the South and Southeastern parts of the United States.

"The Wayne Farms adoption program offers employee reimbursements up to $5,000 for a nonspecial-needs child or $6,000 for a special-needs child."

The reimbursement can be used for nearly any legitimate cost associated with an adoption. Paid time off is also included as part of the company's employee adoption program.

Read more at LeaderCall.com.

Labels: adoption_costs, employers, families

Federal Adoption Tax Credit

Tax returns for 2006 are due tomorrow. For those who will be finalizing their adoptions in 2007 there's some good news; the Federal government has increased the Adoption Tax Credit to $11,390 for people whose adoptions are completed this year.

"The... maximum is the amount of qualifying expenses taken into account over all tax years. If you've been trying to adopt the same child for more than one year, your credit will be reduced by the amount of expenses taken into account in previous years for the same adoption effort."

Though you should consult a tax professional, the above rule typically only applies to domestic adoptions. If the child you're adopting is a U.S. citizen, you can claim deductions before the adoption is final. With most foreign adoptions, however, you have to wait until the entire process has been completed. Read more at LauraChristianson.com.

Labels: adoption_costs, tax_deductions