TurboTax from Intuit offers some easy, year-end tips taxpayers can take advantage of now before it's too late.

1. Donate to charity: It may be as easy as cleaning out the closet. Donating items to charity before the New Year may help taxpayers who itemize their taxes claim a bigger tax refund. Using software like TurboTax helps taxpayers accurately value donations in accordance with IRS guidelines so there's no need to guess at an item's fair market value. And remember; don't bother donating socks that need darning. The Pension Protection Act of 2006 stipulates that everything must be in "good used condition or better."
   
2. Sell losing investments: Selling a losing investment and locking in that tax break is a smart tax strategy. Taking a loss this year may help taxpayers offset income from other gains or income, but that loss is limited to $3,000. Any amount in excess of that must be carried over to their 2009 tax return.
   
   "Many times, people hold onto losing investments, hoping they'll pan out eventually," said Bob Meighan, CPA and vice president of TurboTax. "If the investment is consistently losing money, you're probably better off without it. Take the loss and move on."
   
3. Wait to go green: There are substantial tax credits available to taxpayers who make energy saving improvements to their home. But people thinking about adding solar heating or even new windows, doors or insulation that meet energy efficiency standards may want to wait until 2009 to get the most for going green. For taxpayers installing solar electric property at a cost more than $6,667, the credits will be larger for expenses made in 2009 than 2008.
   
4. Prepay some bills: Taxpayers can prepay a few of their 2009 bills in 2008, and get to write them off on this year's tax return. Homeowners, for example, can make their January mortgage payment in December, giving them one more month of interest to deduct. Those who have large and predictable medical bills, such as braces for the kids, can consider making all the payments before Dec. 31. The IRS allows families to itemize and deduct medical and dental expenses that exceed 7.5 percent of their adjusted gross income.

"It's not too late for people to make a positive impact on their taxes so they can get a bigger refund," said Meighan. "Additionally, some taxpayers who did not qualify for an economic stimulus payment in 2007 are getting a second chance. If you had financial or other life changes in 2008, like losing a job or having a baby, you may be eligible to receive a rebate in 2009."