On this last business day of the year you should already know what your 2006 tax liability will be come April 15th and you should have taken whatever steps you deemed necessary to adjust that tax bill. There is little you can do if you are reading this in early 2007 except fund your IRA contribution for 2006. You have until tax day, April 15 to make a contribution to your and your spouses IRA. If it is a traditional IRA, you can use those contributions to offset 2006 income, if it is a Roth IRA then it will grow tax free, not tax deferred like a traditional IRA.

If you are reading this on 12/29/2007, it might still be possible to pay your January mortgage payment(s) and get an extra month of interest deductions.

So, goodbye to 2006 and hello to 2007, a year that I think is going to be very good.