Adoption Update

The most up-to-date adoption news

Adoption Tax Credit…..What Do You Think

The New York Times ran an article that dealt with the fact that the adoption tax credit is going to expire this year and how that will affect many Americans wanting to adopt. Many people depend on this credit to replenish their savings or pay off a loan that they took out to finance their adoption. Some people think that if the adoption credit does go away, the cost of an adoption will go down. Some think that the cost will remain the same and less adoptions will take place. What do you think? Many different topics are discussed on this debate forum and I hope that you will find them interesting/helpful/informative.

Read the article here.

October 31, 2012 - Posted by | adoption | , , , , ,

1 Comment »

  1. My husband and I are both full time employed adults. He’s with the Navy and we’re adopting. Basically, for us, it boils down to this – we can bring home infants direct from the hospital (we’re hoping to adopt siblings/twins) if we can get the tax credit, otherwise we’ll end up taking out a loan. I’m aware that once we have kids, my income will go down as I’ll be switching to working part time (at best- if we get twins, then I doubt I’ll be working at all for a while, which will 1/2 our income).
    We do get some benefits adopting with the military. It’s about enough to cover adopting a sibling group from foster care. We’re going to meetings and making sure we’re ready for the emotionally truamatized kids that may end up becoming part of our family.
    We know that if we adopted infants straight from the hospital via a private route, it will be exponentially more expensive. Without the tax credit, we’ll be paying it off for years and taking out a much larger loan.

    Comment by J. Darling/Humenay | November 8, 2012 | Reply

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