OK, well, you know nothing's free. But here's how you can spend as little as possible on your Ukraine adoptions: Adopt multiple kids.
Why? Because, at this time there is an $11,650 tax credit per child. This is not a tax deduction, but a tax credit. Money that is subtracted directly off the tax amount you owe. If your taxes are less than the amount, you can carry the credit forward up to five years until it's gone.
Facilitator fees for 2 children are most likely not 2 times the cost for one child, and 3 children would not be 3 times the cost. For example, with our faciliator, the fee is about 50% more for two, but the tax credit is fully double. And the fees are less for older children.
If you're using an adoption agency, then you're paying extra for... I'm not sure what. We are going independent - it is cheaper. I know that in Canada an agency is required. And maybe your state requires one.
The point I'm trying to make is that if money is an issue for you, then consider more than one child, especially older ones. That is good for you and them.
Note: I'm not a tax advisor. Please consult your tax attorney or accountant.
For more info see:
How to claim the adoption credit
Official IRS info
WBC and Sam!
3 weeks ago