Tracy Coenen appeared on CNBC’s “On the Money” to talk with host Carmen Wong Ulrich about some important year-end tax moves consumers should make. The first segment was broadcast on CNBC, and the second segment was a Web Extra.

Part 1 shown on CNBC:

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Part 2 as a Web Extra:

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  1. Update your name with the Social Security Administration so that your name matches on all documents.
  2. Plan and max out your retirement contribution between now and April 14, 2009.
  3. See if you can do a Roth IRA contribution in addition to your 401k at work.
  4. Make charitable contributions if you itemize your deductions.
  5. Medical costs that exceed 7.5% of your income are deductible as an itemized deduction. If you’re going to benefit from this deduction, then pay for as many medical expenses as you can in 2008 to get the tax benefits.
  6. Pay your property taxes, which are deductible in the year paid.
  7. Sell losing investments if you need the capital losses to offset other capital gains.
  8. If you have a Flexible Spending Account for medical expenses at work, make sure you use up your funds by the end of the year.

The above information should not be construed as tax advice. Each situation is different, and you should discuss your particular situation with a qualified tax professional.

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