Jeff ; good point. An investor client of mine paid his cap gains in 2006 on a sale, even though he is expecting to reinvest in Real Estate in 2008.
because he sold near the top of the market and will be re buying near the bottom he is much better off having paid his capital gains, than he would have been from immediately reinvesting.
Keep in mind that currently long term capital gains are running at 15% for the Federal portion, slightly over 9% will go to the state. These are very, very low rates, and most likely they'll go up should there be a change in political administrations with our upcoming elections. And depending on your specific tax bracket, it's possible your actual taxes could be lower than this. Quite often it makes more sense to pay a smaller tax now than a larger one later.
As to your request for a tax professional, I recommend John Massey - 916-608-8166. Let him know Jeff Marr sent you!
And if you decide to call my referral, John, please let me know how that goes also.