It feels a little hard to believe, but there are only a few months left in the year. This means your tax planning window is still open. And, with this year’s new tax law, tax planning might be even more important than usual.

One of the most overlooked tax strategies — specifically designed for lower income taxpayers — is capital gains harvesting. For some investors, realizing gains before year-end can actually be tax-free. If your taxable income happens to fall in the 12% federal tax bracket, you can sell investments that have gone up — immediately repurchase that same investment to reset your cost basis higher — and magically owe zero federal tax. Too good to be true? It’s not.

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