The Intelligent Investor

Make the Tax Man Wait!

Nov. 16, 2012 6:03 p.m. ET

Would you rather pay a lower tax now or a higher tax later? The easy answer might not be the right answer.

Suddenly, it seems, everyone is talking about selling profitable stock positions before the tax rate on capital gains goes up. If you have held a stock for more than one year and you sell it at a profit before the end of 2012, the Internal Revenue Service will take up to 15% of that long-term capital gain.

On Jan. 1,...

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