A tax break that could benefit many investors is scheduled to arrive next January, and it’s not too soon to start planning ahead.
At first glance, the provision appears relevant only to lower-income taxpayers: Beginning in 2008, the tax rate on long-term capital gains from sales of stocks, mutual funds and other securities is scheduled to drop to zero – yes, zero – for people in the two lowest ordinary income brackets. For higher-income taxpayers, the top long-term capital-gains rate is scheduled to remain at 15 percent.
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