How do I decrease my taxable income?

[Eddie Pietschmann]

Hi Everybody!

I am trying to find some ways to decrease my taxable income this year. This may be completely impossible, but here's my situation...

Currently I am 1099 (agent) and I have a tax bill that I would rather dump into a property. If I was to buy a property and put down the amount of tax I owe as a down payment, would that decrease my taxable income because it is now in an asset? 

Any help or strategies would be greatly appreciated. Thank you!

[Angela W.]

Purchase another property, expense if you can before the end of the year.