Year-end tax strategies can make the eyes glaze over in the fall – and make the heart go pitter-patter when you reap the benefits in the spring.

Although the year is winding down, there are still a few ways to cut your federal taxes. And if you think you know the drill, read on – some of this year’s tax-law changes offer opportunities we haven’t had before:

¢ Energy credits. One of them will be especially valuable at this time of year – tax credits for money spent to enhance energy efficiency. These took effect in January.

Every dollar of a credit is a dollar off your tax bill. Deductions, in contrast, are subtracted from your taxable income.

That means that a $100 credit saves you $100, while a $100 deduction might save you only $20, assuming a 20 percent tax bracket.

The most generous energy credit is for certain energy-efficient vehicles. The credit varies by vehicle. One of the most generous, for example, is $2,100 for a new Honda Civic hybrid.

For the full list of eligible vehicles, go to www.fueleconomy.gov/feg/taxcenter.shtml.

Credits are available for installing energy-efficient equipment, such as a central air conditioning system, heat pump or water heater.

For more information, go to http://www.energystar.gov , click on the Energy Star link and then the tax credits box.

¢ Giving to charity. Older folks should be aware of a special tax deal for charitable donations of money taken from traditional IRAs.

Normally, these withdrawals are taxed as income. But for 2006 and 2007, they’ll be tax-exempt so long as they are made after the account holder turns 70 1/2. The exemption applies to charitable contributions of up to $100,000 in each of those years. The money must go directly from the IRA trustee to the tax-exempt charity.

¢ More giving. This year, you can give up to $12,000 to each of any number of people without paying gift tax. Previously, the limit was $11,000. This means, for instance, that a married couple can give up to $24,000 this year to each grandchild. The recipient doesn’t pay any tax, either.

¢ Military service. For people on active duty this year and next with the National Guard or Reserves, they can withdraw money from IRAs, 401(k)s and 403(b)s without the 10 percent penalty usually charged on withdrawals before the account holder turns 59 1/2.

These withdrawals still would be subject to any income tax normally owed on money taken from these accounts. But the money can be returned to the plan within two years and not be counted toward the annual limit on new contributions.

¢ Standard advice. Investors should get rid of any money-losing investments that don’t seem likely to rebound. The losses are used to offset profits earned on other investments sold this year. And if losses are greater than gains, they can be used to reduce taxable income by up to $3,000 a year. Additional losses can be kept and used to offset capital gains or income in the future.

¢ Looking ahead. Ways to reduce taxes in the coming year include signing up for the biggest 401(k) contribution you can afford because money put into these plans is tax-deductible.

Also, if you have dependents or expect big out-of-pocket medical expenses, sign up for a flexible spending plan if your employer offers one. This allows a tax deduction on money set aside for these purposes. Be sure you understand the rules, especially the “use it or lose it” requirement.