There are options for you. Don't give up your dream until you've investigated all of the options.  Where there's a will, there's a way.  There are some practical options you should consider when deciding if international adoption is feasible for your family.

Federal Tax Credit
Remember that you may be entitled to receive up to a $10,000.00 credit against your taxes.  Check out our web page on Tax Credit for more information.  The tax credit can be applied for the year in which your adoption is finalized and can be carried forward for a number of years.  Check with your tax professional to see if the Adoption Tax Credit can help reduce your costs.

Companies That Care
Have you checked with your Human Resources office at work?  Many employers, both private and governmental, provide financial assistance by giving adoption reimbursements to their employees.  Some companies also offer extended leave for parents when traveling abroad for their adoption.  We've listed a few companies that we know of, but the list is always growing.

Aegon USA, The Valvoline Co., Bristol-Myers Squibb, Corning, Inc., Deloitte Consulting, Delta Air Lines, Dow, Fidelity Investments,  Foot Action, Just For Feet, Humana, IBM, Johnson & Johnson, Jolstens, Lexmark, Lilly, Met Life, Sallie Mae, Toyota, UPS, Verizon, and Wachovia/First Union.

Some states, such as Kentucky and Ohio,  also offer subsidies or tax credits to ease the financial burden of adoption.  Laws are always changing.  Investigate for yourself to see what's available for your family.

Home Equity Loans
Many families have used the equity in their homes to pay for the expenses of adoption abroad.  Interest rates  are at historical lows, allowing families and lending institutions to work together to use home equity to pay for international fees, travel etc.  This also allows you to deduct the interest from adoption expenses while still taking the adoption tax credit.  Check with your lender and tax professional to see which plan works best for you.

International adoption is more of a possibility today than ever.  Last year, there were more than 16,000 international adoptions registered with the INS .   Let us help you build your family today.  We look forward to the privilege of working with you soon.  Contact us today.

The Porchlight Project, a National Heritage Foundation

The Porchlight Project, a National Heritage Foundation, through Homecoming Adoptions, provides free services and grants to families who seek to adopt a child with “special needs.” Through The Porchlight Project, Homecoming Adoptions completely donates all of its services, including Dossier Preparation, for free while donations may be used to offset, completely or in part, all of the other costs of adoption. Together with all the other sources of financial assistance, the goal is to fund the entire cost of Special Needs adoptions and find homes for more children with additional challenges of one form or another. Funding depends upon donations and approval as conditions permit but we are very happy to give what we can to help make a family a reality for these children.

Adoption Tax Credit

On June 7, 2001, The United States Congress enacted the Hope for Children Act as part of the Tax Relief Reconciliation Act of 2001.  The Hope for Children Act raised the adoption tax credit from $3,000.00 to $10,000.00 per household.  This tax credit applies to all households who have an annual income of $190,000.00 or less.  Specific information about the Adoption Tax Credit can be found in IRS publication 968.  The publication explains the details of the tax credit and how it may apply to you.  This information can be downloaded on-line at www.irs.gov. In order to adopt and receive the tax credit, a married couple must earn at least $18,775.00 annually.  This figure represents 125% of the federal poverty guidelines.  Please remember that Homecoming Adoptions is an international adoption practice and does not intend to provide legal or financial advice.  We recommend that you consult with an accountant or tax attorney to address any questions you may have about your specific situation.

Adoption Grants Available!

Homecoming Adoptions understands that limited financial assistance is available for families who wish to adopt internationally and the need is great. Therefore, we are pleased to announce that Homecoming Adoptions now provides financial assistance in the form of grants and financing options to clients of Homecoming Adoptions based upon need and availability. Please request an application for financial assistance today.