Last Minute End of year Deductions

[Jeff Nichols]

So time is running out to lower my taxes next year. I've done a couple flips this year that I plan to expense the rehab costs but I was wondering if there are any other things I can do to absorb some of the taxes. I own a small painting business in addition to being on staff at a church part time leading worship. I don't have any retirement so I was considering opening either a self directed IRA or Solo 401k. From what I read that would be deductible dollar for dollar. I'm just curious what would be the best route to go?