Maybe you fancy yourself such a staunch investor that you would never have a chance to utilize the practice, but selling a position at a loss and rebuying later, also known as tax loss harvesting, can give you and your client an advantage as 2013 closes in, according to Envestnet.

Tax management strategies like harvesting, which involves selling any number of products once they dip, reporting the loss and then buying back into the same or a similar position after a certain amount of time, can help hedge against capital gains taxes and enhance your client’s portfolio, the Chicago, Illinois-based tech firm said in a presentation.

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