MSN Money points out some year end tax tips.  Here's one of the most important:

Contribute to a retirement plan. If you’re contributing to a retirement plan such as a 401(k) or a 403(b) plan, you can put in $14,000 this year. If you’re 50 or older, you can put in another $4,000 as a catch-up contribution. Check with your employer to be sure you can make extra contributions.