Transcript: Year end tax planning
By Bankrate.com

Anchor Intro: Ready for the holidays? While this time of year is hectic enough, Bankrate.com has something to add to your list: Make sure you do the right things before year-end to make your life less taxing next April.

Voice over 1: This is the time of year when most of us spend a lot more time thinking about tree trimming than tax trimming. But year-end is a time when you really should do some planning.

Voice over 2: Every year we sit down with a tax pro for predictions on the year ahead and tax tips. Here was the prediction he gave us last year at this time:

Voice over 3: Our expert said that last November; Barak Obama has been saying it ever since, and it might just happen sometime in 2009.

Voice over 4: But that's for people in the highest brackets. If you're not quite there yet, despite what the Republican campaign ads said, your taxes probably won't rise in 2009.

Voice over 5: And predictions like this matter, because they affect your planning. For example, if your bracket is going up, you might want to take stock gains this year -- at least if you have any.

Standup: So that's step one in year-end tax planning: thinking about what's ahead. But that's just the tip of the iceberg. In our next report, specific ideas from a pro to make next April less taxing. For Bankrate.com, I'm Kristin Arnold.