MIDYEAR TAX PLANNING TIP

Take time this summer to examine your investment portfolio for potential tax savings, such as selling stocks that are worth less than you paid to offset your capital gains. You might also donate appreciated stock that you have held for more than one year to charity and avoid capital gains altogether – plus getting a deduction for the stock's fair market value if you itemize. Another step to consider: Buy investments that pay tax-free income, such as municipal bonds, if you're going to be subject to the new 3.8% tax on unearned income.