Friday, January 18, 2013

How to Finance International Adoption





1. Check your employer's human resources department to see if it offers adoption reimbursements or benefits. According to the Dave Thomas Foundation for Adoption, a number of companies and government agencies offer adoption benefits.
2. Apply for adoption grants, which are awarded to help cut adoption costs. You can find a list of organizations that provide grants or financial assistance for adoption at the Dave Thomas Foundation for Adoption website.

3. Take an adoption tax credit. According to the IRS, the adoption credit is an amount subtracted from your tax liability. Qualifying expenses include reasonable and necessary adoption fees, court costs, attorney fees, traveling expenses and other expenses directly related to the legal adoption of an eligible child. You can take the adoption tax credit by completing form 8839 for qualified adoption expenses. Attach the form and send it to the IRS with form 1040 or 1040A.
4. Start and monetize a blog detailing your international adoption journey. You can make money by placing ads on the blog, writing sponsored posts or asking for donations. To find ads for your blog, create an account with a reputable ad agency such as Google AdSense. You can start a free blog at Blogger or Wordpress.
5. Ask for cash donations from friends and family members. Inform them about your desire to adopt a child internationally and ask for their help in fulfilling the goal.

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