Use holiday bonuses to max out annual retirement plan contributions first and for presents second.
Avoid year-end capital gains by gifting appreciated securities rather than cash.
Make charitable donations before the end of the year to obtain better deductions.
Use the $11,000 annual gift-tax exclusion (increases to $12,000 in 2006), but do not exceed it.
Sign up now if possible for any employer-sponsored Roth 401(k) going into effect in 2006, if it’s advantageous to tax plan contributions rather than distributions.
Calculate 2005 taxes both on an AMT and non-AMT basis if there is any possibility that the AMT may apply.