Arts and Crafts Year-End Tax Strategies

There are only a few more days prior to the end of the year, so if you want to take steps to lower your tax bill for 2010, it's time to get hopping. One fairly easy thing you can do to donate excess inventory. Since the period between Christmas and New Year's is relatively quiet for most arts and crafts businesses, it's a good time to go through inventory and weed out those items or raw materials you feel are best served donated rather than saved for future use.

Also, check out the Last Minute Small Business Tax-Savings Tips blog written by Mitchell York, About.com's Entrepreneurs Guide. It's a great one-stop resource for actions you can take to reduce your taxes.