Recent changes in tax laws have
reduced and even eliminated many tax
breaks. But there are still a few things
you can do before the end of the year
to keep your tax bill as low as possible.
Here are some tax-saving strategies you
can use between now and December
31. As always, to determine the proper
tax consequences of your specific
situation, you should consult with an
experienced tax professional who is
familiar with your business and
No change in income tax rates is currently
scheduled for '95, which usually
means that the best strategy is to defer
taxable income into 1995 and to accelerate
deductible expenses into 1994.
Expense your equipment.
Generally, you can't