When I first decided that I wanted to start the adoption process, my husband's first hesitation came from the large amount of costs involved. After researching a bit, we discovered that his company offers an adoption reimbursement. We also discovered the adoption tax credit - which will pay back a little more than 10k that we spend. We will still have to cover the costs first, before we can be reimbursed from both, but we are hoping to acquire a no-interest adoption loan, and I am looking into grants(although I don't feel that we will need much once we are reimbursed for monies spent).
Yesterday, I came across a great article that describes how the tax credit works, and how the tax system, with it's deductions and credits, can work to give you more money to pay (retroactively) for the adoption itself. For anyone wanting to adopt, but concerned that they may not be able to afford it, I highly recommend you take a gander at the article, and sit down with your spouse to figure out if you can do it. It's worth a shot!
Paying for Adoption - Part One
Paying for Adoption - Part Two
Saturday, July 19, 2008
Paying for Adoption
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1 comment:
Great Article! We've had to save, and save, and save... sigh. We're going to be really grateful for that tax credit. That is so great that your husband's work helps with adoption costs! Maybe I should have mine look into it... I doubt they do, but it's worth a shot, for sure.
:) Thanks for coming by my blog, and the compliment.
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