Financial Assistance for International Adoption

If you have chosen to pursue international adoption, you should see if financial assistance is available to help with the adoption expenses.  Below are several options for families hoping to find help in meeting their adoption costs.

Grants and Loans

Many organizations can help when looking for financial assistance to reduce the cost of international adoption.  Knowing a little about the types of aid and what you need to do to apply can make this process more successful. Here is a list of organizations that provide grants and loans.

Adoption Tax Credit

The federal government allows a tax credit of 16,810. The credit can be claimed on your federal tax return for the year the adoption becomes final. The credit is a dollar-for-dollar reduction in tax liability. Families with a modified adjusted gross income below $239,230 may be eligible for the full credit. The credit and income eligibility requirements are modified annually. For more information regarding this law, visit the IRS website or NCFA here.

Employee Benefits

Many companies offer adoption benefits to their employees. Those benefits may be financial reimbursements for fees paid during the adoption or just parental leave for adoption. You should always check with your company’s human resources department to see if they offer these benefits and contact us to add them to the list below.

Military Non-Recurring Program

There is a one-time subsidy for full-time military personnel. Adopting couples or singles can receive up to $2,000 per child or $5,000 for siblings for adoption-related expenses. For more information, visit Defense Finance and Accounting Accounting Services.