Tax deductions and tax deferrals are not the same. Tax deferrals are potential future liabilities; little IOU’s.

But if you use the immediate tax savings to build wealth, then a tax deferral is worth it. Deferring taxes to pay for a cruise vacation might not  be the best approach (then again, live a little!)

Let’s say it’s December and you are considering buying a piece of equipment. If next year’s income is going to be significantly higher, wouldn’t it make sense to wait until January to complete the purchase?

Probably