As 2004 draws to a close, there are some tax considerations you may want to mull over. A little last-minute planning can save you hundreds of dollars -- or more. (And for much more tax guidance than you'll find in this humble article, click over to our Tax Center.)

First off, your donations -- this is the busiest fund-raising season for many charities, after all. Approach your giving with tax efficiency in mind. Contribute appreciated stock, not cash, to your favorite charities. If you've held the shares for more than a year, you'll avoid paying tax on the appreciation, and you'll still be able to deduct the full value of the stock. Call your favorite nonprofit, and the folks there will probably be able to help you with this. (And if you're looking for some new favorite nonprofits, learn about the featured charities in our Foolanthropy drive.)

Review your capital gains and losses. If you're looking at substantial capital gains on which you'll be taxed in the coming year, you might want to sell some stock for a loss to offset some of the gain.

If you believe that your tax bracket next year will be no higher than this year, you're itemizing your deductions, and you won't be bothered by any alternative minimum tax issues, consider making your state and/or local tax payments before the end of this year. You're going to owe the money anyway, so if you pay now, you can take the federal tax deduction this year.

See whether your employer-sponsored retirement plan permits you to make "catch-up" contributions at the end of the year if your contribution level to date is less than the maximum allowed. (Learn more about 401(k) plans.)

Don't overlook valuable credits that might be available to you. If you pay someone to care for your child under age 13 so that you can work, you might be eligible for the Child and Dependent Care Credit. Another option, the Child Tax Credit, can save you $1,000 per qualifying child under the age of 17. The Hope Credit offers savings of up to $1,500 per student for qualified tuition and fees paid by or for the student. The Lifetime Learning Credit offers up to $2,000. If you've recently adopted a child, you may be able to enjoy a credit of $10,000 or more.

You can get more details and ideas at the IRS website. Or drop by our Tax Strategies discussion board, where Fools are asking and answering questions, and sharing tips.