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11th Hour

Looking For Some Last-minute Tax Savings? We Help You Beat The Clock.

This story appears in the December 1997 issue of Entrepreneur. Subscribe »

Although the end of the year is quickly approaching, there's still time to scrutinize your tax situation and zero in on to help trim your 1997 tax liability. Year-end planning is especially critical this year because of the new Taxpayer Relief Act of 1997. The law contains more than 800 changes and nearly 300 new provisions to the code, according to CCH Inc., a provider of legal, tax and business information in Riverwoods, Illinois.

Except for a cut in the capital gains tax from 28 percent to 20 percent, however, most of the new 's changes won't affect your 1997 return. But they will impact the tax moves you make in the new year.

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