Although your federal income tax return won’t come due until April 16, 2007 (because April 15 falls on a Sunday), most of the opportunities for limiting your 2006 taxes vanish at the end of the year. Here’s a look at some of the steps to consider taking before December 31 to keep your tax bill as low as possible......

Defer income until 2007 Accelerate deductions Some notes for business owners Exceptions to the rules