International Adoption Still a Good Option

BY MELANIE POWELL, CPA

Regarding special-needs and international adoptions being easier than domestic adoptions (“Tax Treatment of Adoption Expenses,” April 2010, page 44): I am a CPA who adopted an 8-month-old baby from Vietnam in 2007. I started the process (the first visit to the adoption agency) in November of 2006. By Aug. 8, 2007, I was in Vietnam, holding my new daughter. The only problem I ran into was in April of 2007: I was offered a baby girl instead of the baby boy I had originally requested. Although, now, of course, I’m so glad I have a girl! The point is the adoption went extremely smoothly, without any glitches. Unfortunately, Vietnam is now closed for adoption, but hopefully they will open back up in the future. In the JofA article, I regard the statement regarding international and special-needs adoptions being faster than domestic adoptions as a fairly accurate statement. Of course, there are always exceptions. It is common knowledge by parents trying now to adopt internationally that wait times are getting longer and requirements are getting stricter than in the past. It is true that waits for China can take years. But international adoption is a great option, especially for single parents like me, who find it harder to adopt domestically.

 

Melanie Powell, CPA

The Woodlands, Texas

More from the JofA:

 

 Find us on Facebook      Follow us on Twitter

 

SPONSORED REPORT

How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out