<< The tax rate on LT capital gains will likely be higher next year.>>
They most definitely are however that isn't a great reason to get out of a position. If you see no upside or long-term potential than definitely sell it and move on however if he thinks its worth substantially more he could do a number of things...
Sell the shares now (taking a smaller taxable capital gain at a lower tax rate this year) and buy the shares back giving himself a higher tax basis in the future (higher tax years)...
Never sell the shares and just sell out-of-the-month covered call options over the life of the investment raking in $2-5 dollars of income each year plus benefit in any upside to the strike price.
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