Accounting firm I.A. Rozen & Associates is searching for the "The Last Baby Born in 2008" as a way to call attention to year-end tax deductions for families.
"The real winner is the baby's parents, who receive a whole year's worth of tax deductions at the end of the year," said firm president Irwin Rozen in a statement.
He pointed out that if the parents are in a 15 percent tax bracket, they could save a minimum of $1,525 on their taxes. According to Rozen, the parents of the first baby born at the beginning of the year lose out on this tax deduction by just minutes.
The newborn winner will not only receive a hefty tax deduction, but I.A. Rozen and Associates will reward the baby with a $500 savings bond -- not a bad start for a newborn. In order to select the winner of the contest, Rozen requires a copy of the birth certificate.
To enter the contest, parents can send their baby's birth certificate to I.A. Rozen and Associates, Ltd., at 3918 W. Church Street, Skokie, IL 60203. Entries must be received by Jan. 31, 2009.
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