Monday, August 12, 2013

Financial Assistance For Adoptions in Idaho!

Adoption is an amazing process that is able to match a loving family with a child that needs stability, safety and nurturing.  Your family will need to obtain the services of an attorney to file the petition for adoption and get that adoption finalized.

Smith Horras, P.A. has experienced and qualified attorneys to help you with this process.  In addition, in Idaho, there are resources available to assist with the costs if you and your adoptive child qualify.  If you are adopting a child eligible for adoption assistance, these fees can qualify for reimbursement after adoption finalization. Financial assistance for adoption may be available through one or more of the following sources:
·         Adoption Assistance: Idaho offers an adoption assistance program for eligible children with “special needs”. Most children in foster care are considered to have special needs. Adoption assistance can include up to $2,000 reimbursement of adoption-related costs, a monthly subsidy for the ongoing care of the child, and a Medicaid card to assist with medical expenses until the child is 18 years of age. 
·         Adoption Tax Credit: You may be able to take a tax credit for qualifying expenses paid to adopt an eligible child, including a child with special needs. The adoption credit is an amount subtracted from your tax liability.  Learn more through the IRS website
·         Employer Benefits: A number of employers offer adoption benefits. Contact your Human Resources department to inquire about the availability of adoption benefits.
·         Military Benefits: The military provides active-duty personnel a reimbursement for most one-time adoption costs. The National Military Family Association provides further information and resources.
·         Loans and Grants: Loans or grants are available through a variety of organizations such as adoption agencies, foundations and banks.

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