Best means to reduce taxes in taxable accounts

[testtest]

We max out our 401ks and Roth IRAs. What investment vehicles are available to us to reduce tax exposure? Under what circumstances are TIPS viable / worthwhile, for example? We're looking to get some bond exposure; what are the tax implications to allocating funds to a Vanguard bond index fund? 

I think I've understood that it's best to have funds which deliver dividends inside a tax-deferred account (ie 401k), can someone verify this with the reasoning? What is the best way to get growth in a taxable account while reducing tax exposure? What strategies do you employ?

[seattlecyclone]

Read this Bogleheads article about tax-efficient fund placement. In a nutshell it recommends putting assets with more favorable tax treatment, such as stocks (especially international ones) in your taxable account first, while preferring retirement accounts for bonds and REITs.

That said, don't let the tax tail wag the dog here. If your investment policy statement says you want 20% in bonds, buy that much in bonds. By all means put those bonds in the most tax-efficient location, but don't change your whole asset allocation in search of greater tax efficiency.