Adoption myths that may prevent a family from continuing to pursue their dream of adoption:
- All adoptions are expensive
- The family must be wealthy
- The family must own their own home
- There are no financial assistance programs available
- The legal fees are too high
A great website, How to Make Adoption an Affordable Option, provides information and resources addressing these myths and how to navigate the financial maze of adoption.
Federal Tax credits:
Recently, the federal Adoption Tax Credit has been improved and extended until Dec. 2011. This law was included in the Health Care Reform bill which became law on March 22, 2010. There were a few changes. First, the maximum credit will increase from $12,150 to $13,170 per eligible child. Second, now the Adoption Tax Credit is refundable, if your credit is greater than the taxes you owe, the difference will be refunded to you as cash. In the past, if your adoption credit was greater than the amount you owed in taxes you had to carry it over for up to five years in order to take full advantage of the credit. Here is the IRS news release
State Tax Credits: varies by state of course
Loans/Grants: Just to name a few
A Child Awaits
Gift of Adoption
Show Hope
Lifesong for Orphans
National Adoption Fund
Pathways for Little Feet
Adoption Fundraising:
Be creative! We know several families who have contributed to their adoption fund through making and selling items. Also, here are some organizations that will allow adoptive families to use their product in fundraising, with the family given some of the proceeds.
Just Love Coffee Roasters
Adoption Bug
And yes, there is even a Blog dedicated to providing information and products that contribute towards financial resources for adoption! You can just shop...or you can sign up as an adoptive family!
In our family we have always taken the mindset that once in a while you have to take that leap of faith to reach your dreams. We hope that other families will follow their heart and see where it leads them.
“There are two ways to live: you can live as if nothing is a miracle; you can live as if everything is a miracle.”
~ Albert Einstein
This is great information for all sdoptive families and their support system. The financial piece of the adoption puzzle can be intimidating. Seeing this kind of a resource available is encouraging. We all need to remember the value of building a loving family including thru adoption is beyond measure, above any price and worthy of all efforts.
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