Robert Harding Financial Group logo
Team photo

Robert Harding Financial Group


18301 North 79th Avenue D-149, Glendale, AZ 85308

Phone: 623-977-9823

Fax: 623-977-0181

Toll Free: 800-977-9823




March/April 2021

Adoption: Plan to Cover the Costs

Adopting a child can be a joyful event — and an expensive one. If you’re considering adoption, it’s important to know the costs so you can plan and budget for them.

Costs to Consider
Agencies typically have a set fee schedule for their services. You’ll pay the costs of fingerprinting, background checks, doctor physicals and financial reports, as well as any travel costs. You’ll also need to pay for a home study completed by a licensed agency, and you could be responsible for paying expenses and counseling for the birth mother. Another less costly option to consider is adopting through foster care.

The Tax Benefits
You may qualify for a tax credit of up to $14,300 per child for qualified adoption expenses, as well as an exclusion from income for employer-provided adoption assistance.

Adoption of a child with special needs qualifies for the full tax credit regardless of expenses incurred. Adoption of a stepchild does not qualify unless the child is under age 18 and unable care for him or herself. You must meet income limits and other requirements to receive the tax credit, so consult your tax professional.

Supporting a child is costly, so work with your financial professional to plan ahead.


Enter your Name and Email address to get
the newsletter delivered to your inbox every month.


Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

Securities and Investment Advisory Services offered through Geneos Wealth Management, Inc. Member FINRA/SIPC.
Robert Harding Financial Group and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.