Before you get too wrapped up in next month's holiday cheer, here's something far less jolly to think about: your 2007 tax bill.

The end of the year presents small-business owners with opportunities to shave their taxes, or at least delay some sting for another year. Of course, you should consult a tax adviser before making hasty changes to your business finances, since certain strategies can be more effective for some businesses than others and you don't want to disrupt your cash flow. But here are some tax-slashing strategies...