One of the biggest ways to offset your adoption bill is with the tax credit. You can receive up to $13,460 per child in reimbursement for "qualified adoption expenses," and this number goes up every year. Also, you don't have to claim it all in one year; if you claimed $3,000 in 2014, then you can still claim the remaining $10,460 credit by 2018. Some states have tax credits as well. Ellison stresses the importance of finding an accountant or CPA who knows how to apply these credits. For instance, Bills Tax Service in Illinois specializes in this credit and will do taxes for families anywhere in the country. Active-duty members of the military can also receive reimbursement of up to $2,000 per child for adoption costs.
In domestic adoption, each state regulates how much and which birth parent expenses an adoptive parent can pay. Counseling should be offered to the birth parent and varying amounts of counsel can be paid for by the adopting parent(s). In an international adoption, donations may be made to child welfare institutions or orphanages to help care for the children still in care.
There are many ways to locate a child to adopt, and this is an area where you can control the expenses. The least expensive way to find a child or pregnant woman is by word of mouth networking. Tell everyone you know you are looking to adopt. Hand out business type cards. Free newspapers are another way to go; then there are other newspaper publications. Some people use the Internet, posting profiles and creating their own website. The most expensive way to go is to use a consultant who designs and executes your networking campaign.
Adoption is expensive because the process to legally adopt a baby requires the involvement of attorneys, social workers, physicians, government administrators, adoption specialists, counselors and more. While the adoption journey is an emotional one for prospective birth mothers and adoptive families, the adoption process is a legal function. Adoptions completed by fully licensed agencies are held to high ethical standards, which can mean more paperwork and higher costs.