Slash your tax bill

Even if you sold some losers last year, there's no reason not to do so again, since you can carry losses forward indefinitely to future years (and if you later decide that the stock or fund has good long-term prospects, you can buy it back after 30 days and still claim the loss). Plus, a few years from now you might be glad to have some losses to claim: During his campaign, President Obama proposed raising the maximum long-term capital-gains rate to 20%, up from 15% today. The hike isn't likely to happen in 2009, but there's a good chance it will by 2011 - when, under current law, the rate is scheduled to rise to 20% anyway.

NEXT: 2009 and beyond: Don't tap retirement accounts