Sweepstakes: America's Cutest Tax Deduction

I've been asked to share some information about Turbo Tax's annual Cutest Tax Deduction contest.

Who would have thought having a baby in December could be worth so much money? For the third year, TurboTax - the nation's best-selling, No.1-rated tax software - is searching for America ’s Cutest Last-Minute Tax Deduction. Starting today, one lucky baby will win his/her family $5,000! To enter, parents or legal guardians can go to www.CutestTaxDeduction.com and submit a photo of their “last-minute” tax deduction, born during December 1-31, 2009.

Want more tax tips for parents? Newborns aren’t the only ones who qualify for tax credits. Parents may be able to claim a tax credit worth up to $1,000 every year until their child turns 17. They also may qualify for a number of other credits and deductions, such as child care credits or an adoption credit, worth up to $12,150. Visit TaxBreak, the new TurboTax blog for updates as well.