Wrap It Up Right Like your holiday packages, year-end finances are all about presentation--and planning.

Like most things in life, year-end tax planning can getcomplicated if you let it. But it doesn't have to be. Thesimplest form of planning involves nothing more than deferringincome into next year and/or accelerating deductions into thisyear. The self-employed generally have an easier time switchingthings up a little in the weeks before New Year's Eve, too.

Pushing income, and the tax that goes with it, into the futuresounds reasonable enough. It's not hard, either. You couldarrange to have your compensation or annual bonus paid in Januaryinstead of December. Or, if you're retired instead of working,you may want to hold off on December's retirement-accountwithdrawal until you're done humming along with that laststanza of "Auld Lang Syne."

Similarly, it's intuitive that you'd want to maximizeyour deductions sooner rather than later. The old chestnut piece ofadvice is to prepay your January mortgage interest in December, butbusiness owners can sometimes do more. Need a new computer in thehouse to keep up with the business? Make it a holiday gift ratherthan buying next year. Thinking about a company car? Same thing. Ifyou're going to buy something business-related, in other words,buy it now rather than in January or February.