After the wrapping paper is off, don't be so hasty to rip open the box or unpack its contents. In addition to the old keep-the-receipt and check-how-many-days-you-have-to-make-a-return advice, consider these points as you open your gifts:

DON'T open the box if there's doubt about keeping the item. This is especially true for those products that are most likely to have restocking fees, such as computers, camcorders, and digital cameras.

DON'T file for a rebate if a return is a possibility. You may thereby revoke your ability to return the item. Some rebates also require you to clip out the UPC codes from boxes.  Even if you could return the item, you'd then be subject to a restocking fee.

DO keep the box and everything that's in it. You may be dinged if items are missing. Try also to keep all parts in their original bags and sleeves. Even if you keep the item, it's best to keep the box in case you need to return it under warranty or send it to the manufacturer for repairs.