The last person you should call is a Realtor

That's right, calling a Realtor can cost you tens of thousand of dollars. And I'm not talking about the commission. I'm talking about the tax implications. A Realtor's job is to help you buy and sell real estate, not to advise you on the right tax strategy.

Unless you are an expert in real estate tax law, I implore you to talk with your tax advisor or CPA before buying or selling real estate. Here are some examples:

• As a CPA and Realtor, I have advised people not to downsize - until they turn 55 - so they can keep their incredibly low Prop 13 tax base.

• I have advised single people whose homes have appreciated $250,000 to upsize before they intended so they could save thousands in capital gains taxes and lock in a lower property tax base.

• I have advised couples living together for 2 years to get married before they sell to save $62,500 in taxes! Hopefully, they are still happily married!

• I have advised people to move back into their investment property for two years before selling to save $125,000 in taxes!

• I have seen a retired couple pay nearly $400,000 in tax they did not expect, because they never thought to call their CPA before selling the home they bought in 1950! I wish I knew them before, because all of it - the entire $400,000 tax bill could have been avoided. Please don't make this mistake!

Do you own real estate? If so, do you have a tax plan for either selling or retaining your personal residence or investment properties? If not, you need to call your tax advisor as soon as possible. If you don't have one, please call me at (714) 276-7006 because I am a CPA and Realtor. I'll talk with you, go over your goals and put together a plan ABSOLUTELY FREE. www.TheOCExperts.com