Send Uncle Sam A Smaller Slice

With the tax law changing on Jan. 1, some last-minute planning this week can save you plenty. Here's how

This splendid slack week between Christmas and the New Year is one during which many Americans start pulling together their financial records for the year. And it's a good time to engage in some last-minute tax planning--especially this year, with the tax code changing considerably on Jan. 1. Since the passage of the new tax law earlier this year, most taxpayers have already enjoyed a reduction in their income tax rate. Further reductions will kick in starting in 2002, so deferring income and accelerating deductions can translate into even bigger savings than usual. Here are a few ways to save.


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