One of the best hikes in all of Lake Tahoe is along the lake's west shoreline, the glorious but little-traveled Rubicon Trail (http://www.tahomameadows.com/sunsetmag.html). A great way to spend a day is to park at the Vikingsholm parking area off Highway 89 overlooking the crystal-blue waters of Emerald Bay. Hike the mile down to the Vikingsholm for a tour of the charming historic building (kids especially love it) and picnic lunch next to the lake, then set out for a hike from the Vikingsholm along the Rubicon Trail for the best views of Lake Tahoe I've seen.
The Rubicon Trail between Emerald Bay State Park where the Vikinsholm sits and D.L. Bliss State Park at the other end is 4.5 miles, all of which follows the lake's west shore. If you have two cars, you can leave one at one end and do a through hike rather than having to do the full 9 miles roundtrip. The views along the trail just can't be beat - the most bang for your buck in Tahoe since you get jaw-dropping views without a strenuous hike.
If you find yourself in the beautiful Lake Tahoe and are looking for a fun way to spend a day, lace up your hiking boots and head for the Rubicon Trail along the lake's less-traveled west shore.