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Forget all that blather about how much kids cost to raise. Start thinking about it the other way. The time to start making money off the little nits is NOW!

Starting with this year's taxes. Turbo Tax, the popular tax time software, is sponsoring America's Cutest Last-Minute Tax Deduction.

All you have to do is send in a photo of your newborn baby (born between 12/01/07 and 12/31/07) and hope he or she is as adorable as you think she is. The winner will receive the title of America's Cutest Last-Minute Tax Reduction and a $5,000 U.S. Savings Bond (and perhaps the launch of a lucrative modeling career.)

You're not sleeping these days anyway, are you? Get the camera and start snapping away. The contest started Dec. 17 and runs through Jan. 9, 2008.

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TurboTax Articles

Ways To Increase Your Tax Refund You Never Thought About

Laying the groundwork for a tax refund requires some simple tax planning, a little research and some forethought. Reviewing your tax status, consulting your spouse when filling out your W-4s and taking advantage of several tax credits can help you increase your tax refund. TurboTax also can help decide which credits can get you the biggest refund.

What Extra Tax Deductions Should I Make Sure To Take?

The federal government offers tax deductions and credits to reduce taxable income under certain circumstances. There are several that are often overlooked, including deductions for job hunting, caregiver expenses for dependents and children while you work, a credit to reduce taxes for moderate- to low-income earners and the premium tax credit associated with the Affordable Care Act. TurboTax can help determine if you qualify for these credits and deductions.

8 Things You Think Are Tax Deductible That Aren't

There?s a fine line between looking to save money on your taxes and taking deductions that will raise eyebrows at the Internal Revenue Service. Some taxpayers are tripped up by expenses that they assume are tax deductions, but don?t qualify under IRS guidelines. Here are a dozen items that can lead to unpleasant surprises in case of an audit.

9 Things You Didn't Know Were Tax Deductions

Few realizations are more painful than realizing that you forgot to include a tax deduction that would have lowered your tax bill or increased your tax refund on your tax return. Here are some tax deductions that you shouldn't overlook.

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