1. Measure the article to be framed. Add 1/8 inch to the width and length. This allows room to comfortably place the picture into the frame without buckling. You will need this measurement in the next step. For example: An 8-by-12-inch photograph will be adjusted to 8 1/8 inches by 12 1/8 inches.
2.Turn over the picture frame molding and look at its back side. There should be a rabbet -- a rectangular groove -- cut into the corner edge. This rabbet allows space for the glass, mat, picture and backing to lay inside the frame. Measure the width of that rabbet: 1/4 inch is typical. Double the rabbet width and subtract it from the adjusted dimensions from Step 1. For example: 1/4-inch rabbet width doubled is 1/2 inch. Subtract 1/2 inch from 8 1/8 to get 7 5/8 inches. This is the cut width. Subtract 1/2 inch from 12 1/8 to get 11 5/8 inches. This is the cut length.
3.Put on safety goggles. Loosen the angle adjustment knob on the miter saw and swivel the blade left until the angle indicator is at 45 degrees, then tighten.
4.Place the molding on the left side of the miter saw table, decorative side up, rabbeted side toward you and the back of the molding against the saw’s fence. Slide the molding slightly past the path of the saw blade and hold it firmly, keeping your hand a safe distance from the blade. With your opposite hand, turn the saw on and slowly lower the blade though the molding.
5.Measure from the angled cut of the rabbeted side of the molding and mark the cut length -- calculated in Step 2 -- with a pencil.
6.Loosen the angle adjustment knob on the miter saw and swivel it to the right until the angle indicator is on the 45-degree mark, then tighten.
7.Place the molding on the saw table with the measured portion on the right side of the blade. Move the molding along the fence until the measurement mark is on the right edge of the saw blade path. Hold the trim firmly in place with your right hand and, with your left hand, slowly cut through the molding.
8.Repeat Steps 3 to 7 for the remaining three sides of the frame.
Source: homeguides.sfgate.com