Wall Street Journal:  You Don't Have to Be Rich to Use These Tax Shelters, by Brett Arends:

Is your portfolio ready for higher taxes?

The Bush-era tax cuts might well be extended again this year, at least for most taxpayers. But the long-term picture is less rosy.

Today's tax rates on investments are low by historical standards, with long-term capital gains and stock dividends taxed at a maximum rate of 15% each, versus 28% and 39.6%, respectively, at one point during the 1990s.

It is hard to see this lasting. Without sharp tax increases, says the Congressional Budget Office, the national debt will quickly skyrocket to unsustainable levels—even after accounting for budget cuts. Meanwhile, two new taxes related to the health-care overhaul will take effect next year on higher-income taxpayers: a 3.8% tax on net investment income and a 0.9% increase in the Medicare tax.

Here are some ways to shelter your assets before new rates kick in.

• Sell your winners early
• Buy municipal bonds
• Buy a home
• Max out your Roth IRA
• Check the math on your 401(k)
• Consider other tax shelters