First we flush our current rules
# iptables -F
# iptables -t nat -F

Setup default policies to handle unmatched traffic
# iptables -P INPUT ACCEPT
# iptables -P OUTPUT ACCEPT
# iptables -P FORWARD DROP

Copy and paste these examples ...
# export LAN=eth0
# export WAN=eth1

Then we lock our services so they only work from the LAN
# iptables -I INPUT 1 -i ${LAN} -j ACCEPT
# iptables -I INPUT 1 -i lo -j ACCEPT
# iptables -A INPUT -p UDP --dport bootps -i ! ${LAN} -j REJECT
# iptables -A INPUT -p UDP --dport domain -i ! ${LAN} -j REJECT

(Optional) Allow access to our ssh server from the WAN
# iptables -A INPUT -p TCP --dport ssh -i ${WAN} -j ACCEPT

Drop TCP / UDP packets to privileged ports
# iptables -A INPUT -p TCP -i ! ${LAN} -d 0/0 --dport 0:1023 -j DROP
# iptables -A INPUT -p UDP -i ! ${LAN} -d 0/0 --dport 0:1023 -j DROP

Finally we add the rules for NAT
# iptables -I FORWARD -i ${LAN} -d 192.168.0.0/255.255.0.0 -j DROP
# iptables -A FORWARD -i ${LAN} -s 192.168.0.0/255.255.0.0 -j ACCEPT
# iptables -A FORWARD -i ${WAN} -d 192.168.0.0/255.255.0.0 -j ACCEPT
# iptables -t nat -A POSTROUTING -o ${WAN} -j MASQUERADE
Tell the kernel that ip forwarding is OK
# echo 1 > /proc/sys/net/ipv4/ip_forward
# for f in /proc/sys/net/ipv4/conf/*/rp_filter ; do echo 1 > $f ; done

This is so when we boot we don't have to run the rules by hand
# /etc/init.d/iptables save
# rc-update add iptables default
# nano /etc/sysctl.conf
Add/Uncomment the following lines:
net.ipv4.ip_forward = 1
net.ipv4.conf.default.rp_filter = 1