With the beginning of 2012 nearly here, day traders and other investors may be focusing on year-end opportunities to lower their taxes, such as accepting limited losses in a portfolio, according to Forbes contributor Gregg Fisher.

While these issues are relevant at the end of the year, according to Fisher, the tendency to forget about tax planning for most of the year is problematic and can lead to a last-minute rush that results in poorer outcomes than a more comprehensive, long-term approach.

The main point is that most such strategies can be more effective if they are integrated into a trader's strategy over time, whereas attempting to adjust investments, income and other financial considerations at the end of the year may lead to difficulties, rushing and costly mistakes. Specific accounting tips and assistance may be available from a professional firm that can help day traders determine the best way to prepare for tax time, whether that means making end-of-year adjustments or implementing a plan over the course of an entire fiscal year.

These considerations may become more important in the future if capital gains tax rates increase or the tax system is otherwise reformed in a way that increases the burdens on day traders, which is possible. If no legislative action is taken, the capital gains tax rate will increase substantially when its current cut expires.