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by CareyBot

The end of the year is fast approaching, but there is still plenty of time to take steps to reduce your taxes for the year. Here are four simple ideas:1. Buy business equipmentIf you've been thinking about buying equipment to use in your real estate business -- whether it be a car, computers, software or anything else -- do so by the end of the year. In all likelihood you'll be able to deduct the entire amount you paid for the item in a single year instead of having to depreciate it over several years (this is not true for passenger cars, however, for which annual deductions are capped).There are some generous first-year tax deductions for business property purchases in 2011 that are unprecedented. First, there is 100 percent bonus first-year depreciation for purchases of most new equipmen...