As 2011 comes to a close, it’s time to figure out what you can do to lower your tax bill. Here are some quick tips:

Sell loser stocks in your taxable accounts. You can deduct the capital loss against capital gains. No gains? You can deduct up to $3000 in losses per year.

Convert a traditional IRA to a Roth IRA. If your traditional IRA is worth less than it once was, the tax hit from converting it to a Roth will be substantially less. After the conversion, all income and gains accumulated in the Roth will be tax free.

Give to charities. You can donate securities directly to the charity or you can donate cash. Either way – it is a benevolent way to avoid taxes.