Dh and I have been adopting children since we were 23yrs old. We're now 51, and I'm still hoping we'll be blessed with another baby before we turn 52. (We have three young children at home now, all adopted as infants through private agencies.)
I've said many a time.....I'd hate to be younger again and hoping to have a large family...because, NOW...financially, I think couples would have to be quite wealthy to adopt more than a couple of babies.
Don't give me the option of foster care...because we tried that, adopted older children (one having just turned three years old)...and none of these children worked out well. :(
I honestly believe that while couples might save financially when they adopt through the system; they should be prepared to pay 'more' emotionally; because it's NOT like adopting infants and it DOES take a lot of hard---HARD work. (God Bless those families where their older child adoptions worked well.)
I believe MANY agencies in the US are basically selling babies. (Ooops! I KNOW that's not supposed to be said....but by golly, what ELSE can you reasonably call it anymore!?!?!) It's said the business is run by 'supply and demand'. While that may be so; that doesn't make it 'right'!!!
If an agency can conduct an adoption for 10K or less...or let's even say 10-12K (and that would include the homestudy fees)...then tell me-------WHY couldn't they conduct ALL adoptions for that fee range????
Many of us already know the answer...the ol' supply and demand. But again, that DOESN'T make it right in any way, shape or form.
Adding to these ridiculously high fees, is the fact that more biological parents are asking for more monies when they relinquish. (Some states allow this practice, others don't.) Again, I can't imagine this is allowed to the extent that it is----but it is!
Finally.....agencies continue to use the excuse of the 'adoption tax credit' as a way to charge higher fees! This is incredibly wrong!!!! I spoke to an adoption director the other day. She told me their fees were based on a sliding scale, beginning at the 11k line. "We set that fee", she said,'based on the fact that this is the amount you'll get back from the gov't when you apply for the adoption tax credit."
WHAT?????? I explained to her that it was merely a CREDIT....NOT a refund. And, once one adoption has been done---and almost certainly a second, that adoption tax credit is basically 'zip' for the adopting family, because they'll already have enough deductions anyway!
Her response? "REALLY!?!?....I didn't know that!"
Submitted by FosterMommy on Fri, 07/18/2008 - 17:51.
What you said is true Linny about the Adoption Tax credit. You can carry it forward for a total of five years. However, if you are in the lower income bracket there may never be 11,000 worth of taxes to write off. You are correct, it is not a refundable credit, it can only be used to reduce your tax.
Submitted by Snafu Suz on Sat, 07/19/2008 - 02:09.
I have a question about non-profit vs. for-profit agencies. What is the average cost for a non-profit, domestic, infant adoption? (I would imagine international is a different ball game because of fees that the country charges vary greatly, and are out of the control of the domestic agency.) What kind of fee difference is there between non-profit and for-profit? Does anyone know a ballpark figure?
Dh and I have been
Dh and I have been adopting children since we were 23yrs old. We're now 51, and I'm still hoping we'll be blessed with another baby before we turn 52. (We have three young children at home now, all adopted as infants through private agencies.)
I've said many a time.....I'd hate to be younger again and hoping to have a large family...because, NOW...financially, I think couples would have to be quite wealthy to adopt more than a couple of babies.
Don't give me the option of foster care...because we tried that, adopted older children (one having just turned three years old)...and none of these children worked out well. :(
I honestly believe that while couples might save financially when they adopt through the system; they should be prepared to pay 'more' emotionally; because it's NOT like adopting infants and it DOES take a lot of hard---HARD work. (God Bless those families where their older child adoptions worked well.)
I believe MANY agencies in the US are basically selling babies. (Ooops! I KNOW that's not supposed to be said....but by golly, what ELSE can you reasonably call it anymore!?!?!) It's said the business is run by 'supply and demand'. While that may be so; that doesn't make it 'right'!!!
If an agency can conduct an adoption for 10K or less...or let's even say 10-12K (and that would include the homestudy fees)...then tell me-------WHY couldn't they conduct ALL adoptions for that fee range????
Many of us already know the answer...the ol' supply and demand. But again, that DOESN'T make it right in any way, shape or form.
Adding to these ridiculously high fees, is the fact that more biological parents are asking for more monies when they relinquish. (Some states allow this practice, others don't.) Again, I can't imagine this is allowed to the extent that it is----but it is!
Finally.....agencies continue to use the excuse of the 'adoption tax credit' as a way to charge higher fees! This is incredibly wrong!!!! I spoke to an adoption director the other day. She told me their fees were based on a sliding scale, beginning at the 11k line. "We set that fee", she said,'based on the fact that this is the amount you'll get back from the gov't when you apply for the adoption tax credit."
WHAT?????? I explained to her that it was merely a CREDIT....NOT a refund. And, once one adoption has been done---and almost certainly a second, that adoption tax credit is basically 'zip' for the adopting family, because they'll already have enough deductions anyway!
Her response? "REALLY!?!?....I didn't know that!"
And I honestly think she didn't!
Sincerely,
Linny
Adoption Tax Credit Helps Higher Income families
What you said is true Linny about the Adoption Tax credit. You can carry it forward for a total of five years. However, if you are in the lower income bracket there may never be 11,000 worth of taxes to write off. You are correct, it is not a refundable credit, it can only be used to reduce your tax.
non-profit vs. for-profit
I have a question about non-profit vs. for-profit agencies. What is the average cost for a non-profit, domestic, infant adoption? (I would imagine international is a different ball game because of fees that the country charges vary greatly, and are out of the control of the domestic agency.) What kind of fee difference is there between non-profit and for-profit? Does anyone know a ballpark figure?