ANYONE know any tricks to reduce your tax bill when you're self employed?

Any at all?

thanks

legitimate ways please, and ways to exploit loopholes

Not sure which country you are in but basically keep receipts for everything you buy and ask accountant what you can claim as an expense.

This will depend on what country you are in but obvious ones anr transport, tools, specialist protective clothing, computers, telephone, training, advertising, printing, stock, depreciation - I could go on for pages.

Think also of less obvious things - do you work from home - if so can you charge a percentage of heat and light or even rent for a room (watch out for capital gains tax on this one). Can you employ your wife/partner as secretary and use up their allowances.

Good luck - it's hard work on your on but can be very rewarding.

Not tricks..
but keep very good records of your expenses vs income.
If your office is in your home you can use a percentage of utilities and office supply costs etc as a deductible. If you use your vehicle solely for your business you can use either the mileage or parts/repairs as a deduction. You need to get online and find the irs website and get the list of acceptable deductions and keep GOOD records of everything. It is better if you file quarterly than yearly, because you won't lose your receipts or forget as much.
Best of the best to you.

I would find yourself a good accountant. They will not only help you this year but be able to guide you and plan ahead for a couple of years.

You don't state where you are, I'm assuming England or Wales so check out this link.

http://www.icaewfirms.co.uk/section.asp?...

make sure you include all your costs. if you require machinery or equipment invest in new thus increasing your costs but gaining some benefit to your working