Don't Be an April Fool! There's time for some last-minute tax moves.

If you've already set up a Keogh retirement plan, be sure tomake a contribution before April 15 for the 2001 tax year. For2001, the self-employed can contribute up to 25 percent of theircompensation and deduct it from current taxable income.

But if you don't have a Keogh plan, consider a SEP-IRA."SEPs are one of the most common types of retirement plansused by self-employed people because of the ease of administrationand high contribution limits," says Paul Gada, a tax analystwith CCH Business Owner's Toolkit, a division of Riverwoods,Illinois, tax and business law information provider CCH Inc. For2001, the contribution limits for a self-employed person are about13 percent of his or her net earnings.

You can also reduce income for 2001 up to $3,000 by claiming netcapital losses on investments that took a hit in 2001. Losses over$3,000 can be carried forward to 2002, says Gada.