Making Adoption Affordable
There are several ways to help finance the cost of adoption:
Federal Tax Credits http://www.irs.gov/formspubs/
Dependency Exemption (Eligible from date of placement; if provide more than half of child’s support)
Subsidy – Adoption Subsidy (not taxable but could prevent using dependency exemption)
Low Interest Loans or Lines of Credit National Adoption Foundation
Gift of Adoption www.giftofadoption.org
Corporate Adoption Assistance Programs
Military Reimbursement
Home Equity Loans/Second Mortgages
Borrow from Insurance
Adoption Cancellation Insurance
Use an agency that will cover birth parent expenses
Agencies with sliding scale fees based on income
Religious Organizations
Friends and Family
Fundraisers
Retirement Plans (CAUTION – may be taxed if not paid back, etc.)
Credit Cards (CAUTION – high interest)
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