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Through the Hope for Children Act, the U.S. Treasury Department allows a $10,630
per adopted child income tax credit towards qualified adoption expenses. The tax
credit is an amount you subtract from your tax liability for adoption expenses,
including “reasonable and necessary adoption fees” and travel expenses, etc. Income
limits do apply, and the credit may not be more than your total tax liability minus
other credits, but the credit may be carried forward over the next five years. Check
with your tax advisor regarding your eligibility.
Please
click here to access IRS Adoption Tax Credit information.
Employer Adoption Benefits
Many companies offer adoption benefits to their employees, which may range from
financial assistance to parental leave. Some employers will help with costs by reimbursing
adoption expenses with a cash benefit of up to several thousand dollars. Check your
employer to see what adoption assistance may be available.
CCAI’s Discount for Returning Families
More than 40% of CCAI families return for a second China adoption! To show our appreciation
and support, CCAI offers substantial discounts on agency fees for returning CCAI
families.
Click here for more information.
Life International
Life International encourages Christian couples to adopt a child by relieving some of the financial burden of international and domestic adoption. They provide Adoption Matching Grants from $1k-$4k per child, and also offer Interest-Free Loans. You can visit their website at www.lifeintl.org
, or email at info@lifeintl.org , or phone 309.747.3556
Other Financial Aid Information
Please
click here to download detailed information.
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