1st the tax credit is $11500 when you finalize your adoption and can be used on any adoption expenses. That is one your federal taxes. Most states if you live in one where you pay state incomes taxes will have some type of credit.
2nd, yes go check out the foster/adopt route. I admire anyone that could do it b/c we couldn't. We went to the infomational meeting and yes, I am not ashamed to say we wanted our 1st child to be a baby. Well, we sat through that meeting and at the end the lady said that if you were here to think to you are going to adopt a baby forget it. They are hard to come by and most of the time it doesn't work out, b/c it is always in the parent's court to get their act together. Yes, you have a limited time...but...anyhow...we decided that we were going to go to an agency...
Start doing research on your states requirements and join as many online forums that you can for support and questions. There is a great one on Yahoo groups 2Adopt. Wonderful group of AP's and they know what they are talking about. Ask them a question and there is going to be atleast 1 person that has been in that same type of situation. Start calliing to all of the adoption agencies that are in your state 1st. I am going to gaurantee you that about 90% of them want some type of large fee to start. I know that that can be frustrating. I was told before we started adoption to not pay any agencies anything before they have done anything for you. If you go ahead and send them a $10-15K (yes, this is the norm btw) check that means that it is not refundable...you are tied to that agency until you are placed with a baby. That means that if something else comes along...you have a friend of a friend that is looking to place their child or through another agency...then you have to re-examine your funds and decide if you can take the hit. A private lawyer adoption is still going to run atleast $5K b/c of the lawyer fees/social worker fees/homestudy...and that is not including if there is any bm expenses...So...do your research and feel what is best that you can handle....there are so many routes to bringing your child home...I know that it feels overwhelming...trust me I was there....but we made it through it...and at about 8 mos duration for our adoption...which I know is not the norm...but anyhow...if you want to know more about adoption route let me know...and Good luck!
__________________ Mommy to a very energetic, giggly little boy! |