Adoptive Parents
How Much is it Likely to Cost? / How Long is it Likely to Take?
Obviously, the fewer restrictions you place on your “dream child,” the shorter your wait time will be. A 2006 survey of readers of Adoptive Families magazine indicated that almost 60% of those responding had waited less than 6-months after preparing their personal information for a birth mother match — over 80% of them waited less than a year.
And almost all of the babies involved in those matches were either already born or born within 3 months of the match. Less than a third of the survey respondents had to work with more than one birthmother before successfully adopting.
The domestic adoption process, from orientation meeting to state-mandated post-placement services is estimated to cost between $35,000 and $50,000 plus. Some of the expenses are within your control — for example the amount of money you choose to spend on advertising to find a birthmother with whom you would like to work — although most are not. We will gladly forward you the Fee Agreement that you will be asked to sign once you decide to move forward with FFTA.
There are a number of ways you can ease the financial burden of adoption. There are loans and grants specifically designed to help families afford the adoption process, and the IRS allows eligible taxpayers a tax credit to offset much of the expense.
Adoption Tax Credit in 2024
The IRS announced the Adoption Tax Credit for 2024 and the maximum credit allowed for qualified adoption expenses will be $16,810.
The credit begins to phase out for taxpayers with modified adjusted gross income (MAGI) in excess of $252,150, and it's completely phased out at $292,150 or more. Please contact your TAX accountant or TAX advisor for more specific guidance. SAVE all of your invoices and expenses towards your adoption and contact your personal accountant or tax attorney for more information about this new news for 2024!Adoptive Families magazine offers a guide to many of the credits, benefits, subsidies and other resources that can ease the financial burden of adoption. In addition, the American Academy of Adoption Attorneys has compiled a list of adoption resources including grants, loan programs, subsidies and general financial information to assist in financing an adoption. Also check out Resources 4 Adoption.
As tax laws change yearly, please be aware that FFTA does not give advice on tax issues. Please contact your financial advisor or CPA regarding any adoption credits or write-offs that you may or may not be eligible for according to the current state or Federal law.
What's New at FFTA?
FFTA Board Secretary Sam Karliner to participate in Ironman World Championship Kona 2024
"Twenty-nine years ago, adoption changed my life in ways I could never have imagined. It blessed me with the children and the family I had always hoped for. Joy and Michael played a pivotal role in our adoption journey all those years ago, and their warmth, kindness, and dedication have remained constant throughout the years. As my family grew in love, I stayed connected with them and the incredible world of adoption. Whenever the opportunity arose, I found ways to help promote adoption education, which eventually led me to serve on the board of FFTA. Today, FFTA needs our help more than ever. Supporting FFTA in its mission to educate and create forever families is crucial.
On October 26, 2024, I'll be competing in the Ironman World Championship in Kona, Hawaii, and I'm using this incredible event as an opportunity to raise awareness and funds for FFTA! As I push myself through the 140.6 miles of the Ironman, I'll be carrying with me all the love that adoption has brought to my life. Knowing that I have your support will be my greatest source of encouragement. Whether large or small, every donation from the heart will make a difference in helping FFTA continue its life changing work. I am deeply grateful for the chance to take on this journey, and even more so for the generosity of people like you who share my passion for supporting adoption. With heartfelt appreciation, Sam" Please donate and read Sam's story.Meet and Greet
January 7th, 2025
Adoption: Everything You Need to Know - Zoom Meeting!
January 8th, 2025
Foster 2 Forever: Free Information Session