Amid holiday revelry, tax planners are reminding people that the clock is ticking on charitable giving and advising them on other steps they can take to cut what they pay to the federal government.

Tax advisers say people who itemize their deductions can look at charitable giving to help lower their tax bite. People who are temporarily strapped for cash can use their credit card to make a donation and pay it off in the new year.

There are a number of other ways people can lower their income tax bills, though experts say each taxpayer situation is different and recommend they contact advisers when they have questions. For example, people can take a deduction for clothes given to a charity, but they need to determine the fair market value of the items.

"It's so dependent on particular circumstances," said Ted Talbott, a Kane'ohe-based accountant.

People who donate items to charity need to keep records if they gave more than $500 in a year. The IRS has been tightening how deductions can be taken for such exaggerated values attributed to such contributions.

In most cases cars that are donated to charity no longer can be listed at their Kelley Blue Book value. Instead the donation is limited to how much the charity received when the vehicle was resold.

Talbott said people expecting to earn less next year can take steps to pay certain expenses this year to lower taxes. For example, small business owners might pay their state general excise tax for December now instead of in January. They also could buy and start using new equipment before the end of the year to earn a deduction he said.

The same payment strategy might be put to work for medical expenses. Payments can be made this year to boost total medical costs above the 7.5 percent of adjusted gross income threshold for itemized deductions.

Mortgage payments also can be made this year that were scheduled for next year. Taxpayers also should check to see if they've contributed all they can to their 401(k) retirement plans.

People who have capital gains can review their portfolios to see if they've got money-losing stocks or investments that can be sold to offset taxes. Here again, a multitude of rules exist, including how the loss can be applied against income if it exceeds gain.

Although it may not apply to many people, the amount of charitable contributions that can be deducted as a percentage of adjusted gross income rose to 100 percent for charitable giving between Aug. 27 and Dec. 31. It usually is 50 percent of adjusted gross income and was raised after Hurricane Katrina.

Reach Greg Wiles at gwiles@honoluluadvertiser.com.