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What year-end tax planning strategies (for individuals and small business) would you implement this year?
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First review, did you make a profit? What type of enity do you have? Where do you want to go? There is not one path to get where you want. Maybe you need to reduce SE tax, maybe increase year end spending to reduce profit. What tax credit can you still take advantage of after Dec 31, 2009. IRA and SEP''s can still save you money in 2010. What about first time home credit, Even if you purchase in 2010 you can take it on your 2009 tax return.
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