Financing Adoptions: Grants and Tax Credits

Growing your family through adoption is a personal and fulfilling experience. That being said, the adoption process can be complicated. The State of New Jersey offers a variety of paths to adoption, ranging from different age groups to the types of adoption you can partake in. While aspiring parents may be concerned about the fees and costs involved with the adoption process, our family law attorneys can offer guidance about grants and tax credits that may be available to ease these burdens.

Adoption Requirements

To be eligible to adopt in New Jersey, a candidate must be 18, meet the adoption/housing income requirements, and pass fingerprinting, background checks, and a home study to ensure a healthy and supportive environment for the child. In New Jersey, you can consider adopting newborns or older children through public, private, or international adoptions.

Financing Adoptions

At Moskowitz Law Group, we understand that financial challenges can feel daunting when aspiring to adopt. Fortunately, there are multiple resources that can ease the financial burden of adoption.

Federal Tax Credit

As of tax year 2024, the maximum credit you can receive is $16,810 per adopted child, which aids in reducing your tax liability. These benefits, as per the Internal Revenue Service (IRS), include tax credits for qualified adoption expenses. This credit can help cover expenses such as:

• Reasonable and necessary adoption fees
• Court costs and attorney fees
• Traveling expenses (including amounts spent for meals and lodging while away from home)
• Other expenses that are directly related to and for the principal purpose of the legal adoption of an eligible child

Learn more about federal tax credits here.

Adoption Grants

There are various grants available from private organizations to provide financial support to adopting parents. These grants have specific eligibility requirements depending on the provider.

Learn more about adoption grants from private organizations here.

Other Financial Assistance

There are also state-wide and national adoption assistance programs. Some companies may also offer employee adoption assistance programs. New Jersey also offers an adoption subsidy for qualified adopting parents.

Learn more about the New Jersey adoption subsidy here.

An adoption lawyer can help an aspiring parent determine whether they may be eligible for any public or private grants.

Learn More About Grants and Tax Credits from an Adoption Attorney

Domestic adoption processes and financing options can vary by state, so prospective adoptive parents should familiarize themselves with state-specific laws and regulations. Seeking guidance from an experienced family lawyer can contribute to a successful adoption experience.

Call Moskowitz Law Group to learn more about growing your family through adoption. We can assist with applications and offer personalized support about grants and tax credits that may be available for financing your adoption.