How to place a tight "bounding box" around an EPS image?

Recently, I received an EPS file with extra white space around the actual figure. There are a number of ways of trimming the extra white space, including opening up the EPS file in a text editor and manually redefining the bounding box (this is simpler than it sounds, especially once you've done it a couple of times).

However, if you run Linux, and have ghostscript installed (by default on most distributions) you can use the eps2eps wrapper:

eps2eps FileWithWhiteSpace.eps FileTrimmedWhiteSpace.eps

Simple.