Taxes

Pay them.

I dislike taxes as much as the next person, but I've seen more people damage their personal wealth by moves designed to reduce taxes than by paying too much in taxes. The best ways to save taxes are probably those that make sense for other reasons as well:

	Holding investments for the long-term instead of trading constantly, and choosing mutual funds (if appropriate) that do the same (they're called index funds).
	Joining tax-deferred savings plans offered by your employer, or setting up your own.

The tax code is filled with potential time bombs that harm innocent people: the Alternative Minimum Tax may be one of the biggest (ask anyone who exercised incentive stock options in early 2000 without getting proper advice). Anyone with a tax situation more complicated than the 1040 EZ who tries to save money by not getting competent tax advice is in league with the people who save money by not having the oil changed in their car regularly.

While I've never met the man, tax attorney Kaye Thomas has a terrific web site with much useful (if general) advice on taxation. There is also an interesting discussion board at the site.