Taste. Take a sip and swish it around your mouth -- front to back and side to side, and you might even want to breathe in a bit. While your taste buds aren't really separated out on different areas of your tongue, swishing helps you utilize all of your taste buds. The initial taste may be a bit different than the overall impression you get after swishing, and another important aspect of taste is the aftertaste. In France they even have a rating system for aftertaste -- if the aftertaste lasts for 1 second, it is given 1 caudalie; 2 seconds is given 2 caudalie, and so on. Highly rated wines often leave the strongest and longest aftertaste. Balance is the key to the taste of a wine. The four main components to the taste of a wine are sweetness, acidity, tannin, and alcohol content. If the wine is unbalanced in one of these areas, then it will be noticeable.
The sweetness will probably be the first thing that you notice about the taste -- especially if it is particularly sweet or particularly bitter. To think about acidity, consider the difference between drinking milk, water, orange juice, and grapefruit juice. Acidity makes the wine taste crisp, but if it is overly acidic it will have a bit too much of a punch. Tannin can also be a bitter sort of a flavor, and it comes from stalks and skins of red grapes. Tannin is present in strong black tea and are most notable in young wines. The tannin flavor tends to mellow as wine ages. Alcohol content will make the wine range from a sweet flavor to the fiery taste that accompanies higher alcohol content.
Another characteristic to consider when tasting a wine are to feel the body of the wine in your mouth. Is it more or less viscous? Think about the fruitiness of the wine and try to compare different wine flavors to different fruits. What is the overall impression of the wine? Do you like it initially or not? There are times when tasters will spit out the wine that they are tasting instead of swallowing. Typically this is only done when tasting a very large number wines, or if you happen to be a professional tester or are participating in a wine review of some sort, in which case, keeping a clear and level head may be important.
Note taking - I know none of us want to go back to high school, but taking notes is beneficial to all wine-lovers, not just professional tasters. Having a collection of notes on different types of wines can help you select a good wine at a restaurant, or bring a good wine home to have when you invite the boss over for dinner. There are some particular methods of note-taking for wine-tasting, and some websites or books offer questionnaires that can be used to evaluate wines. There are special terms that some wine-tasters use, but especially at first, simply writing down things that the wine flavor or aroma remind you of might be the best that you can do. Write down your reactions to the various stages of testing - look, smell, and taste.