Tips for taking your medicine. For not-so-nasty liquid meds, like tylenol:

For infants, syringe the dose in their back cheek pocket, and blow a quick puff of air in their face
Try putting the medicine in a nipple pulled from an infant bottle, keep your finger over the underside, and give them the nipple. Works well when they're asleep, too. You can buy fancier syringey versions of this, too, but why bother?

These are for dag-nasty medication suspensions, like tinidazole or clindamycin:

Try mixing with the flavored espresso stand syrup of your child's liking
Try mixing with single-serve Koolaid powder. In fact, one clever family gave a syringe of koolaid slurry without medicine to an older sibling, who ate it with visible relish. Then they handed the med plus Koolaid syringe to the patient, who slurped it down before realizing that we had given him modern medicine's bitterest, chalkiest, most foulest concoction.
If crushing a pill (like isoniazid, since the liquid form often causes diarrhea), try the above tips, or even better: scoop out the center of an Oreo's filling, and replace with crushed isoniazid. Yummers.

It's so nice when your child can get off of those nasty suspensions. Some meds (stimulants, for example) aren't even available as liquids or chewables, and the pill size can get pretty large. There are 4-5yo kids in our practice that have learned to swallow pills, and it does make life easier. No need to refrigerate, travels well, etc ...

Here are some tips for swallowing pills:

Practice with balled up pieces of white bread, from tiny to large, and have your child work their way up.
Have them place the bread, a tic-tac, a mini M&M, or the pill itself at the back or side of their tongue, then drink from a straw. The straw helps it go down without stressing as much.
Most capsules float, so lean forward when swallowing. Pills sink, so leaning back can help.

Inhalers for asthma, when used with a mask/spacer device, work just as well as nebulizer machines, with much less time and fuss. Here are some tips:

For younger children show them on yourself, then have them "teach" a stuffed animal, and practice on you.
Let them play with a new mask and spacer for a while before using it for meds
If they don't like the mouth taste of the medication, let them have a potato- or tortilla-chip before-hand, to coat their tongue, and then give them a sweet treat, fruit, or sugar-free gum afterwards to wash out the taste (from Contemporary Pediatrics)
For inhaled steroids (Flovent, etc), wipe around their mouth afterwards, and give them something to drink to wask out the medicine.