The end of the year is a great time to go ahead and purchase things your business needs. For instance, if you know you will be buying a computer within the next few months, now would be a good time to go ahead and buy it. You will not only take advantage of holiday sales, but you will also benefit from the tax deduction for 2007. This also applies to materials, canopies, and anything else you need to run your business. While you can save you taxes by going out now and purchasing items for your business, it is only advisable to do this when you absolutely know that you will be purchasing the items very soon.