The decision to adopt is highly personal. It represents a large commitment of time, energy and finances.

Adoption Resources Inc’s team of professional experienced staff and social workers recognize the challenges of this undertaking and will be there for you to provide guidance, education and emotional support throughout the process. We will work with you to demystify the adoption process, we will work with you at whatever pace you would like, and ensure the highest standards of ethical practice.

It’s hard to know where to go and who to trust when making the most important decision of your life.  Our staff has a combined 50-year history working with birthmothers and adoptive families.

Every waiting family, every birthmother, and every child has their own unique circumstances and needs. It’s important to work with an agency where high ethical practices will ensure the most positive experience possible. Adoption presents unique challenges for adoptive parents, adoptees and birth parents. We offer consultations, counseling, support groups, referrals, and programs for kids and teens, parent workshops and trainings for professionals. In addition, our social workers can prepare profiles for birth parents and background narratives for adoptees. Adoption Resources Inc. is committed to being available to you at all points in your adoption journey.

We Provide….

  • A domestic homestudy that can be used for either an independent or agency adoption. All of our homestudies meet Florida adoption standards and can be used for out-of-state adoptions as well.
  • Conversion of a completed international homestudy into a domestic homestudy.
  • Education and counseling on the domestic adoption process by our experienced staff.
  • For out-of-state adoptions we work with the sending state’s Interstate Compact office to approve the placement providing and filing a final court report and required documents.
  • Help you to complete your “Dear Birthmother Letter.”
  • Screen potential birthmothers throughout the state and country.
  • Use our resources to help facilitate a match with a birthmother that fits your criteria.
  • Create and manage an adoption budget for the birthmother.
  • Provide guidance, support and education to both you and the birthmother throughout the adoption process.

Our attorney will help you….

  • Handle the legal process of terminating the birth parents’ rights.
  • Help with the finalization of the adoption, including preparation of final papers and coordination with out-of-state agency.

Resources to help with the cost.

Loans

Many loans are project- or item-specific, but some can be used for whatever the borrower wants. Two such flexible loans are home equity loans (money borrowed against the value of your house) and insurance loans (money borrowed against the value of your life insurance policies). These loans come with relatively low interest rates and a choice of payment terms. To learn more, contact a bank or mortgage broker, or your life insurance company.

Newer adoption-related foundations also offer financial assistance to those hoping to adopt. The organizations listed below (among others) allow or encourage parents who are hoping to adopt children from foster care to apply for assistance:Adoption Resources of Kimberly Home

Employer Assistance

Employers who offer adoption benefits may provide workers with:

  • direct cash assistance for adoption expenses
  • reimbursement of approved adoption expenses
  • paid or unpaid leave (beyond federal leave requirements established through the Family and Medical Leave Act of 1993); or
  • resource and referral services

To request a list of employers who provide adoption benefits or learn more about workplace adoption benefits, contact the Adoption Friendly Workplace Program, an initiative of the Dave Thomas Foundation for Adoption. Call 800-275-3832, send an e-mail to info@adoptionfriendlyworkplace.org; or visit www.adoptionfriendlyworkplace.org.

Military Reimbursements

Active-duty military personnel are eligible for a reimbursement of up to $2,000 per child adopted to cover one-time adoption-related costs such as application and court fees or travel expenses. No more than $5,000 can be reimbursed in any one year, and payments are only issued after adoptions are finalized.

Children who have disabilities may also be able to access up to $1,000 per month under the military’s Program for Persons with Disabilities. Through the Exceptional Family Member Program, families with children who have special needs will be assigned to duty stations where the child’s needs can be met. Learn more from the National Military Family Association.

All families should speak directly with their accountant or a tax professional.  This information is intended as informational only.

Please note: The adoption tax credit is a one-time credit per child. If you have received (or are still waiting for) your adoption tax credit for adoptions that took place before 2011, you do not apply for an additional adoption tax credit in 2011—unless you adopted again in 2011.

Since 2003, families who adopted a child with special needs from foster care could claim a federal adoption tax credit even if they had no adoption expenses. Children who receive adoption assistance/subsidy benefits are considered children with special needs. Other adoptive families are also eligible for the credit, but must have (and be able to document, if requested by the IRS) qualified adoption expenses.

The tax credit became refundable for 2010 and 2011. A refundable tax credit is one you get back regardless of what you owe or paid in taxes for the year.
Families who adopted from 2005 to 2009 may be able to benefit from the refundable credit because credits from those years can be carried forward until 2010. (Families who adopted in 2004 may be able to take some limited advantage of the credit but will not benefit from refundability. Families who adopted earlier will not benefit from the credit if they did not take it already.)

The amount of the credit is based on the year the adoption finalized:

2012

$12,650

2011

$13,360

2010

$13,170

2009

$12,150

2008

$11,650

2007

$11,390

2006

$10,960

2005

$10,630

2004

$10,390

2003

$10,160

The credit is claimed one time for each adopted child with special needs.
Below, we explain the basics of the adoption tax credit.

To be eligible for the credit, you must:

  • Have adopted a child other than a stepchild — Children who receive a monthly adoption subsidy payment have been determined by the state to have special needs, so these children are eligible for the full tax credit without documenting expenses. Families who adopted children without special needs are also eligible, but need to have (and be able to document, if asked) qualified adoption expenses.
  • And be within the income limits — How much of the credit you can claim is based on income. In 2010, families with a federal modified adjusted gross income above $222,520 cannot claim the credit; families with incomes above $182,520 can claim part credit. In 2011, families with a federal modified adjusted gross income above $225,210 cannot claim the credit; families with incomes above $185,210 can claim part credit. Anyone with incomes below the lower amount should be able to claim the full credit. (Adoptions from previous years had different income limits.)

You will need to prove the adoption by providing the IRS with a copy of the adoption decree. Families who adopted a child with special needs must also provide a copy of the adoption assistance agreement or a letter from the state determining that the child has special needs.

If You Adopted in 2011

You will claim the credit when you file your 2011 taxes, typically in early 2012.

If You Adopted in 2010

To claim the credit, you complete IRS Form 8839 with your IRS Form 1040. On line 5 of 8839, which asks for qualified adoption expenses, enter $13,170 as long as your child receives adoption assistance (and is therefore considered special needs). Others should enter their qualified adoption expenses.

If You Adopted from 2005 to 2008 and Didn’t Claim the Credit

Adoptions finalized from 2005 to 2008 are more complicated because the IRS allows people to amend returns to claim a credit only for the past three tax years. These are now considered closed tax years. The IRS has written, though, that these older credits can be accessed. (Tax year 2008 closed on April 15, 2012. If you filed an extension that year, you have three years from when you filed to claim any refund due that year.)

If you adopted in 2005, 2006, 2007, or 2008 you need to amend your returns starting the year you finalized. Because it’s longer than three years ago, you cannot be paid a refund for any of the credit that you would have been due in 2005, 2006, 2007, or 2008. You must still complete the closed year returns as if you are getting a refund for the credit used, but any credit that could have been refunded in these years will be lost. When you amend your 2009 and 2010 taxes, you can use any credit due that year. Whatever amount remains after you do your 2009 taxes can be carried over and refunded in 2010.

If you didn’t file in a closed year and had sufficient tax liability in the closed years to use up the whole credit, you will not benefit. You need to have some credit carried forward to 2009 to get a payment.

If You Adopted in 2004 and Didn’t Claim the Credit

If you finalized an adoption in 2004, the issue about amending returns more than three years old applies so you are less likely to benefit. You cannot carry the credit forward to 2010 when the credit becomes refundable.

A family with significant tax liability may use up all of the adoption tax credit in the years before 2009, but they cannot get a refund for these years. Those families who have a moderate tax liability might be able to carry forward some of the credit to 2009, when they could get a refund for whatever tax liability they had that year.

Those who adopted before 2004 cannot benefit since all of the tax years from 2008 and back are closed.