Opportunity Zone Program | TaxConnections

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TaxConnections is fortunate to have tax expert Blake Christian as a member of our platform. Given my expertise searching for tax experts for corporations worldwide, I can assure you Blake Christian is a leading tax expert on the new Opportunity Zone Program. He advises multinational corporations and he is sought out frequently by tax firms all over the country who consult with him.

Take this opportunity to receive a copy of all of his educational articles on the topic of the Federal Opportunity Zone Program. Whether you are a tax executive with a multinational corporation, a Tax Partner with a firm, or a CFO, you will learn how to utilize these extraordinary tax incentives to save your organization significant tax dollars.

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The Federal Opportunity Zone Program

Which Gains Are Eligible?
Qualified Opportunity Fund Requirement
Tax Basis Adjustments/Gain Reporting Exemptions
Legal Form Of Qualified Zone Fund
Percentage of Qualified Property Test/Penalty
Ineligible Business Types
State Tax Complexities
Real Estate “Original Use” Rehab Requirements
Who Should And Should Not Invest In A QOF?
Hiring Tax Credits – 8500 Tax Incentive Zones
5 Myths About The Opportunity Zone Program
5 Ways To Leverage The Opportunity Zone Program
Opportunity Zone Participation Window
Open Issues On Opportunity Zones
Investment Diversification And Tax Savings

Written by Blake Christian | Posted in Blake Christian • Opportunity Zone Program

The Opportunity Zone (OZ) Program has been around for almost 18 months now but as a result of complexities and open issues on exactly how taxpayers would participate and benefit, the program is now getting national traction and investment dollars. The OZ Program is the most powerful investment and diversification and economic development tool I have seen in four decades of tax consulting.

The OZ Program borrows elements from other long-standing tax provisions –

-Internal Revenue Code Section(IRC) 1031(Like Kind Exchange) which allows taxpayers to defer taxes on properly structured real estate swaps,

-Roth 401K’s/IRAs which allow taxpayers to build-up tax-exempt income after holding the Roth Account for at least five years, and

-The Federal New Market Tax Credit Program

In summary, the OZ Program allows taxpayers to rol over all or a portion of capital gains (long or short-term) income into a Qualified Opportunity Fund (QOF). The invested funds can then be deployed into real estate or an active business located in one of the 8,700 qualifying census tracts throughout the U.S. and U.S. territories. Following these steps allows the taxpayer to defer the tax on their original capital gain until December 2026. Depending on when the taxpayer rolls their gain, they may also be eligible for a reduction in their reportable gain of 10% to 15%.

Written by Blake Christian | Posted in Opportunity Zone Program