How To Benefit From Opportunity Zones:
About The Immediate Opportunity Zone Fund:
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Welcome to the Tax Cuts & Job Act of 2017. This is the biggest tax reform in years. It’s more innovative program is the Opportunity Zones.
How does this work?
You roll over Capital Gains into an Opportunity Zone Fund. It does not matter how you got the Capital Gain. It could be from the sale of a property, the sale of a business (not just assets), or selling of stock.
The fund must invest the money inside an Opportunity Zone.
By doing so, you PAY NO CAPITAL GAINS TAX NOW. What you are able to do is to defer those taxes for 7 years. Then, you pay them, but with a 15% discount in 2026.
Within 30 months of the time, the money goes into the Fund, although some money can be held in reserve.
There are plenty of Opportunity Zones around the country. In fact, there are more than 8,000 of them. All of them have one thing in common.
They are all underperforming areas, whether they are in metropolitan areas or in the middle of nowhere.
What do you get by investing in an Opportunity Zone?
Once the money is invested, you can do pretty much anything you want with it. This Act was written by people who believe in Capitalism. Let the market do what it does best. Find opportunities and maximize return. Let the government get out of their way.
By investing in these depressed areas, you pay NO Capital Gains taxes on the new investment. You MUST hold the asset for 10 years from the original date, and you MUST substantially improve the asset.
How To Get Started With Opportunity Zones
by Dave Kohl
How does it work?
What you can do is take out the money as long as you continue to own the asset. For example, by refinancing. Once the property improvements you make are done, you can refinance and take your money back out. You are still tax free.
Just to clarify, there are some things you cannot do within an Opportunity Zone. These include not being able to invest in what are considered to be “sin” businesses. These would be gambling establishments, liquor stores, or adult entertainment establishments. You also cannot invest in marijuana distribution establishments.
There is nothing else to it!
Of course, there are a ton of regulations, since this is the IRS.
However, the idea is that you have an incentive to put your money into an economically depressed area. You help make something happen there, and you pay no tax on it.
How do I get this started right away?
All you need to do is contact us! If you prefer, you can have your CPA or financial advisor contact us and we will take it from there.
HURRY! The deadline for 2018 Capital Gains is June 28, 2019!