Each December, I have the unpleasant duty of interrupting readers' holidays with a reminder that soon tax time will roll around. My motive is pure: I want to save you money — legitimately — on taxes next April by letting you know of steps you can take before the year ends.

Year-end tax planning focuses on two issues — things to do every year and steps to take in response to tax law changes this year.

The first — and most important — step is to talk with your tax adviser. Tax laws are complicated and each case is unique. Only your own accountant can properly advise you.

The next basic rule is "accelerate expenses, delay income." The concept is that it's always better to pay taxes later rather than sooner. In essence, you delay taxes for an entire year on income you've put off receiving until January and get the benefit of deductions a whole year earlier for December expenses.

The easiest way to "accelerate expenses, delay income" is to send out invoices at the end of the month and prepay January bills. Of course, if you've had a bad year — you have no profits or will be in a low tax bracket — reverse this and accelerate income and delay expenses.

For advice on changes affecting entrepreneurs this year, I consulted Greg Rosica, tax partner of Ernst & Young in Tampa, Fla., and co-author of "The Ernst & Young Tax Guide 2006" (CDS Books, $16.95).

Rosica detailed the following tax benefits that may be available to small businesses this year: