Federal Adoption Tax Credit

The Hope for Children Act was signed into law on June 7, 2001 as part of the Economic Growth and Tax Relief Reconciliation Act of 2001. The Hope for Children Act raised the adoption tax credit to $10,000 for all adopting households whose income is $150,000 or less. Please note that the adoption tax credit takes effect for adoptions completed after January 1, 2002, and thereafter. Learn more at (http://tax-credit.adoption.com/).

To learn more about the Adoption Tax Credit consult the following location: (http://www.irs.gov/taxtopics/tc607.html).

Military Subsidies

The military will reimburse active-duty personnel whether adopting a healthy infant, a waiting child, or a child from abroad. Although these amounts are subject to change, currently adopting couples or singles can receive up to $2000 per child or $5000 maximum per calendar year for siblings for adoption related expenses. Learn more by reading the fact sheet located at: (http://www.nmfa.org/site/PageServer?pagename=home_familylife).

US State Adoption Subsidies

Each state has an adoption subsidy program where Federal money is granted to adoptive families who qualify, according to your particular state's requirements. However, please keep in mind that some states are resistant to making these benefits available for U.S. citizens who adopt internationally. Specifically, a state adoption subsidy is to be given to children who are considered to have special needs. However, many of the conditions listed under each state's guidelines for what qualifies as a "special need" are fairly minor medical conditions. Some are serious, but many are not. If you are adopting a child with special needs, here is another opportunity for financial assistance. If the child you are adopting has been diagnosed with what you consider a minor medical condition or any developmental delays, it is still worth your time to check with your state to see if you qualify for assistance.

Check out the following site for a profile of each state's adoption subsidy program:  (http://www.nacac.org/subsidy_stateprofiles.html)

Is it right to go into Debt for an Adoption?

This is a very good question.  We at LLASG can’t answer that question for you.  Going into dept for an adoption is a serious matter to pray and ask God for guidance. 

Biblical Principles to consider: 

Proverbs 22:7 

The rich rules over the poor, And the borrower becomes the lender's slave.

Proverbs 17:18

A man lacking in sense pledges And becomes guarantor in the presence of his neighbor.

Proverbs 21:5

The plans of the diligent lead surely to advantage, But everyone who is hasty comes surely to poverty.

Proverbs 28:18

He who walks blamelessly will be delivered, But he who is crooked will fall all at once. 

James 4:13-15  

Come now, you who say, "Today or tomorrow we will go to such and such a city, and spend a year there and engage in business and make a profit.  Yet you do not know what your life will be like tomorrow. You are just a vapor that appears for a little while and then vanishes away.  Instead, you ought to say, "If the Lord wills, we will live and also do this or that.

Philippians 4:19

And my God will supply all your needs according to His riches in glory in Christ Jesus.

Psalms 37:21

The wicked borrows and does not pay back, But the righteous is gracious and gives.

Romans 13:8

Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law.   

Deuteronomy 28:44

 He shall lend to you, but you will not lend to him; he shall be the head, and you will be the tail.

Matthew 6:21

for where your treasure is, there your heart will be also.

1Corinthians 7:23

You were bought with a price; do not become slaves of men.

Malachi 3:8

Will a man rob God? Yet you are robbing Me! But you say, 'How have we robbed You?' In tithes and offerings.

Other Fund Raising Ideas:

There are so many ways that you can raise money for your adoption. Family, churches, bake sales, garage sales, car washes, and auctions are just a few ideas. Talk with other families and be creative!

• Fund raiser Suggestions to Help Finance Your Adoption (http://www.adoptukraine.com/funding_fundraisers.html)
• Check out: http://www.perspectivespress.com/item.asp?recordid=adoptionfinances&pagestyle=default
• More and more corporations and businesses are offering adoption benefits as part of their employment benefit package.

Here are some helpful links which we have found useful:

• www.halfthesky.org (China adoption)
• www.shaohannahshope.org (international adoption)
• www.bethany.org (adoption/family services agency)
• www.kidsfirstadoption.com
• www.wacap.org (World Assoc. for Children and parents)
• www.ftia.org (Families through International Adoption)
• www.celebratechildren.org
• www.stelizabeths.org (pregnancy and adoption services)
• www.in.gov/dcs (Indiana Dept. of Child Services)
• www.whiteskids.org (Foster parenting)
• www.childrenshopeint.org (Children's Hope International)
• www.wrcc.org (White River Christian Church in Noblesville, IN - home of LLASG)