I thought I'd share five pretty random Black and White Photography Tips. These are techniques I learned through trial and error as a Nantucket Photographer.
Shoot in RAW
I know many readers of DPS can't shoot in RAW (because their camera doesn't offer it) or don't shoot in RAW (because they either don't know how or don't like to) but for the most control in the post production phase of converting your color images into black and white ones - you'll want to shoot in RAW if your camera does allow it. Of course shooting in JPEG doesn't stop you shooting in black and white - but if it's an option, give RAW a go, you might be surprised by what it offers you in post production. More on RAW vs JPEG here.
Shoot in Color
If your camera doesn't allow you to shoot in RAW (or you choose not to) - shoot in color and do your conversion to black and white later on your computer.
While most digital cameras offer you the option to shoot in Black and White (and can produce some reasonable results) you have more control over your end results if you have the color data to work with in your conversion on your computer. (read more on the choice between shooting in black and white or post production conversion).
Update: There is an exception to shooting in Color and it's when you're taking note of point 1 above (shooting in RAW). When shooting in RAW and switching to Black and White mode you see your results in the LCD in black and white but the camera actually records all of the information (including color) - the best of both worlds. But if you're shooting in JPEG - shoot in color and do the conversion later. Thanks to Joost (in comments) for the reminder to include this.
Low ISO
Shoot with the lowest possible ISO possible. While this is something that most of us do in color photography it is particularly important when it comes to black and white where noise created by ISO can become even more obvious. If you're after this 'noise' (or grain) you can always add it later in your post production - but it's harder to go the other way and take noise out.
When to Shoot
Many digital photographers actually prefer to shoot images for Black and White in low contrast situations. So an dark or overcast day can be a great time to shoot out door shots.
Ironically these are the days that those who shoot only in color sit at home complaining about the 'poor light'. So next time you find yourself with a dark and gloomy day - shoot some black and white shots.
Composition
Most of the general tips on how to compose or frame a good shot apply just as well to black and white photography as they do when shooting in color - however the main obvious difference is that you're unable to use color to lead the eye into or around your shot. This means you need to train yourself to look at shapes, tones and textures in your frame as points of interest. Pay particularly attention to shadows and highlights which will become a feature of your shot.
Subject
Choose your subject carefully. Some subjects that look interesting in color look dull in black-and-white. On the other hand, black-and-white can create an unexpectedly intimate portrait or transform a simple scene into a dramatic moment.
Photographs of people look especially good in black-and-white. More and more people are having their wedding pictures taken in black-and-white because it makes the photographs look timeless and therefore more romantic. Black-and-white photographs of couples on honeymoon or on vacation can be equally captivating. Whereas a color picture might be a mere record of a trip, a black-and-white photograph captures emotions and impressions with unusual power. When you're in a festive or exciting place, your first instinct might be to take color pictures, but if you've ever seen a black-and-white photograph of a man kissing a woman on a beach, you know how much more compelling a black-and-white photograph can be.
Black-and-white photographs of children and babies are also very beautiful and sentimental. Children grow up, and babies won't be babies forever, so the nostalgic atmosphere that black-and-white photographs create is especially appropriate.
When you're taking black-and-white photographs of people, it is better if they are dressed simply and in solid colors, not in prints. The fewer the elements in a black-and-white photograph, the more dreamy or dramatic it will be.
Buildings, landscapes, and other scenes are also valuable subjects in black-and-white photography. Keep an eye out for the unexpected. The way the light falls on a table, the shadow of a bicycle on the ground, or the swaying of a tree in the wind could be the subject of your next black-and-white masterpiece.
Background
Make sure the background does not distract from your subject. Sometimes moving your subject a few feet to the right or left is all that you need to eliminate unnecessary elements from your photograph. If that doesn't work, try taking the picture from a different angle.
Light and shadow
You could say that light and shadow are all there is to black-and-white photographs. That's why it's so important to use them to your advantage. Take pictures of the same scene at different times of the day and you'll see how important light and shadow are to the mood of a photograph. You can also experiment with different qualities of light. For example, take a picture of a fence on a bright day, and take another picture of the same fence on a foggy day.