George owns 1,000 shares of ABC stock that he purchased a little more than 11 months ago at a cost of $5 per share. The stock is now trading for $40 per share. George’s tax advisor suggested that he wait another month before selling the stock. This is an example of which tax planning strategy?
a. Avoiding income recognition
b. Deferring income recognition
c. Shifting income
d. Changing the character of income