Timing Considerations for Opportunity Zone Investors, with Ashley Tison

Ashley Tison

As we approach the fourth quarter of 2020, what are some of the most important timing considerations for Opportunity Zone investors and Qualified Opportunity Fund issuers?

Ashley Tison is an Opportunity Zone consultant and attorney based in Charlotte, North Carolina. Along with Jimmy Atkinson, he is co-founder of OZ Pros, an Opportunity Zone advisory firm.

Click the play button below to listen to my conversation with Ashley.

Episode Highlights

  • Some of the most important timing considerations as 2020 winds down.
  • Why there may be a wave of capital hunting Opportunity Zone deals in June 2021.
  • The possibility of the 2026 deadline getting extending by Congress.
  • How the December 31, 2021 basis step-up deadline may restore urgency to the Opportunity Zone investment marketplace toward the end of next year.
  • Ashley’s legislative policy idea that would open Opportunity Zone investing to more people.
  • Examples of interesting Opportunity Zone deals that Ashley has come across recently.

Opportunity Zone Investment Deadlines

Capital Gain Recognized by Individual

  • Capital Gain Event Prior to October 4, 2019: Your deadline to invest has already passed.
  • Capital Gain Event Between October 4, 2019 and July 4, 2020: Your deadline is December 31, 2020.
  • Capital Gain Event After July 4, 2020: Your deadline is 180 days after your recognition event.

Capital Gain Recognized Through a Partnership Schedule K-1

  • Capital Gain Event in 2019: Your deadline is December 31, 2020. (Original due date of September 11, 2020, extended to year-end by IRS, due to coronavirus.)
  • Capital Gain Event in 2020: Your deadline is September 11, 2021. (Partnership returns due date of March 15, 2021 + 180 days.)

Featured on This Episode

Industry Spotlight: OZ Pros

OZ Pros

Founded by Jimmy Atkinson and Ashley Tison, OZ Pros is an Opportunity Zone advisory firm that offers a simple document generation tool for quick and easy QOF and QOZB formation. OZ Pros also offers a customized don-for-you package as well and can assist with PPMs, subscription agreements, pitch decks, pro formas, business plans, and capital raising.

Learn more about OZ Pros:

  • Visit OZPros.com
  • Listen to the podcast to learn how you can get $50 off your OZ Strategy Call.

About the Opportunity Zones Podcast

Hosted by OpportunityDb.com founder Jimmy Atkinson, the Opportunity Zones Podcast features guest interviews from fund managers, advisors, policymakers, tax professionals, and other foremost experts in opportunity zones.

Show Transcript

Jimmy: Welcome to the Opportunity Zones Podcast. I’m your host, Jimmy Atkinson. Joining me today is longtime listener and fan of the show and my co-founder of OZ Pros, Ashley Tison. Ashley, thanks for coming on.

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Ashley: Thank you, Jimmy. As always, it’s a pleasure to be on your podcast and I’m looking forward to talking to you today and talking about some of the exciting things that have been happening in the world of opportunity zones, and particularly with OZ Pros.

Jimmy: Yeah, always looking forward to talking with you, Ashley. For those of you who don’t know Ashley, he is an opportunity zone consultant and attorney. He’s based in Charlotte, North Carolina, but he does opportunity zone consulting nationwide. And along with me, as I mentioned, he is the co-founder of Oz Pros. We actually talk once or twice a week, but we don’t usually record our calls so this will be a little bit of a change of pace for us. Anyways, you can learn more about our service and Ashley at ozpros.com.

But first Ashley, today, let’s discuss some of the most frequently asked questions or most discussed topics that have been coming up on your opportunity zone strategy calls over the past few weeks. I know we’re heading into the end of the year here and we’re running up against a lot of deadlines, both for qualified opportunity funds and potential opportunity zone investors. So one of the big topics that keeps coming up in your calls, you’re telling me is timing considerations and deadlines. Can you go into that a little bit and tell me what some of the most important timing considerations are here as we head into the end of 2020.

Ashley: Well, with 2020 being the COVID world and the havoc that it has wreaked on schedules and timelines and everything else and businesses, and just everything completely turned in 2020 on its head, it’s kind of been the same thing within opportunity zones. So thankfully, the IRS put out a Rev. Proc. 2020-39, which extended the deadline for all things opportunity zone. Basically, if you had a deadline between April 1st and December 31st of 2020, it extended that deadline to December 31st. And so that gave a significant reprieve for folks on trying to meet deadlines within kind of some of the uncertainties of COVID. It also kind of created an interesting glitch that I don’t think that anybody really saw coming was that it created a…it took out some of the sense of urgency that every six month deadlines had, you know, naturally instilled.

And so it kind of goes to my point that I’ve continued to stress about the, for lack of a better term, the genius of the crafters of the legislation and the way that they crafted this is that they crafted the legislation to number one, get capital into typically under-invested areas, but number two, to actually get it off the sidelines, and then number three, to make it patient capital. And so that six month…you know, those six month deadlines that they built in are actually doing that as we’ve seen from different fund sponsors and that kind of thing that we’ve been talking about, that everybody didn’t have that same sense of urgency come June, that they normally would have. And so now it’s pushing that sense of urgency to the end of the year. And so it’s creating an interesting kind of phenomenon because in people’s minds, it has extended everything out until December 31st, but from a practical standpoint, people typically file their taxes by October 15th.

And so even though they have a deadline of when they need to get their investment in until December 31st, if they wanna get the benefit of it on their taxes that they’re filing for 2019, at this point, they actually need to make the investment into their qualified opportunity fund before they file those taxes. Otherwise, they’ve gotta file the taxes, pay the anticipated, you know, amount that’s due for that capital gain and then go back and amend that return, which is not…I don’t think anybody wants to do. And so what that’s done is kind of created this big push for people to get invested and to get their money into a QOF before October 15th and that’s actual cash in the account.

And so in order to get cash into an account before October 15th, you know, you’ve gotta have your QOF set up and you know, with plenty of time, so you could go get that bank account open and that kind of thing. And so we’re particularly gonna, I think, see a big push, you know a big…you know, a whole lot of qualified opportunity funds and QOZBs set up between now and the end of the year, certainly between now and that October 15th deadline. But then I think we’ll also see a big push between now and the end of the year.

Jimmy: So anyways, a lot to unpack just from the first part of your answer there. First of all, I’d like to point out that I did identify that glitch early on. I did a podcast episode on it. The fact that just as you rightly point out, that investors lost a lot of urgency for rolling over capital gains into opportunity zone funds. And then secondly, I think you’re talking about two different deadlines here. One is for investors who recognized a capital gain toward the end of 2019, and right, because they need to be filing their 2019 tax return by October 15th. That’s the extended deadline date. So, you know, if you do the math on if your deadline or if your 180-day window expired between April 1st and the end of the year, that means your window could have opened at the earliest on October 4th of 2019. That’s 180 days prior to April 1.

So it really…the folks who recognized a capital gain between October 4th and December 31 of 2019, who have that, I’m gonna call it a soft deadline of October 15, 2020 coming up here in just a few weeks, they actually technically do have until the end of the year, but as you rightly point out, the tax returns are due October 15th, so it makes the filing process a lot muddier if they wait until the end of the year. But everybody else, everybody who just recognized a capital gain at any point during 2020, they actually have…they don’t run into that October 15th deadline. Is that correct? Because they have still until next April or possibly until next October, if they extend their filing, right, to get all their ducks in a row, is that correct?

Ashley: Correct. So it’s 180 days from the capital gain event. If it’s an individual, if they own it through a partnership or an S-corporation, it will be 180 days from the partnership tax filing deadline. And so that would push it to, you know, September…roughly September 15th of next year, if they owned it either in a partnership or an S-corporation when they experienced the game.

Jimmy: Right. And technically, we are potentially still dealing with a partnership gain that could have taken place as early as January 1, 2019. Is that correct? Because then that partnership gain would have been reported in, I believe, what is it, February or March? No, March of 2020, and then the 180-day window starts then and expires after April 1, which then takes you to…you get that COVID relief extension just out until the end of this year. So you have effectively almost two full years in that case. It’s probably a rare case, but I’m sure there’s a few out there who might fall into that category.

Ashley: Yeah, it’s really interesting because I’ve actually had some conversations with folks where they’re like, well, hey, you know, can we potentially salvage this or can we potentially do something with this gain? And, you know, when you actually run the math on it, we were able to do something with it just as long as yeah… as long as they get it in before they file their tax and then they could, if they really needed to, they could amend if they wanted to, but we’re trying to help as few people do that as possible. But yeah, it’s really interesting because you’re able to back it up literally till January 1st, 2019 in some situations.

Jimmy: Yeah. Yeah. That is really interesting. By the way, for those of you listening out there, Ashley and I are throwing a lot of dates at you across different years, and sometimes it’s easier just to visualize these dates right in front of you. So I’m gonna list all these dates on the show notes page for this episode. And if you wanna find those show notes and actually read this in text format, head on over to opportunitydb.com/podcast. So Ashley, we’ve dealt with the timing considerations for individual taxpayers or individual partners of S-corps or other types of partnerships who have some deadlines coming up at the end of the year now, as opposed to early this year. What are some of the timing considerations for funds and for fund compliance?

Ashley: So if you get invested before the end of the year, and you’ve set up your opportunity fund, that opportunity fund has a six-month asset test that it has to comply with. And that’s either the first 6 months after it was formed or December 31st, whichever comes first. And so for any fund that was formed after July 1st, that in that first test is on December 31st of the then current year. But you get to disregard cash that came in that’s still held in cash equivalent during the previous six months. So for a fund that were to be established from kind of here until the end of the year, if you still have cash, let’s say that you brought in a million dollars into that fund, and it was still sitting in cash or a cash equivalent, which includes notes that are under 18 months or less, then the test is actually gonna be pushed till the following year because you get to disregard that first test. So the test would be December 31st of 2020, but because you’re still in cash, you get to disregard that cash that came in during the previous six months. And so then it needs to be invested into qualified opportunity zone property by June 30th of 2021.

And so I think that what we can take away from this is that anticipating a big push this year towards the end of the year to comply with that COVID deadline, that I think there’s probably gonna be a fair amount of capital that’s hunting deals by June…you know, for June 30th of next year. And then we’ve got the whole 2021 conversation relative to that step up in basis, you know, the 10% step up in basis, and I think it’s gonna make 2021 a really interesting and very fast paced and cool year for opportunity zone players.

Jimmy: Yeah, that’s a really interesting consideration. So a few considerations then just to recap, one, a lot of investors running up against deadlines coming up toward the end of 2020 here, and in some cases, like we said, October 15 of 2020, it could be basically a soft deadline for a lot of investors. Two the money, has to be placed into deals by the end of June of 2021. So that’ll be a pretty good rush on the deal side. And then three, the 10% basis step up, one of those first tax benefits, or I think it’s actually the second tax benefit I usually list. I go deferral, reduction, exclusion, that reduction of 10% on your original gain that goes away at the end of 2021. So, you know, we’re about 14 months plus away from the expiration of that, barring any legislative extension. I know there’s some talk on Capitol Hill of extending that deadline by possibly two years or more. There’s different pieces of legislation that are being drafted or conceptualized at this point. Do you have any insight on that actually, Ashley?

Ashley: If I were a legislator, which I’m not, but if any of them that are out there, I would actually think that it would probably behoove them to draft that legislation and enact it after December 31st, 2021. So that, that way we get the big push of capital that’s coming into opportunity zones just associated with that being a deadline and then to…once, you know, that’s occurred…and I would, I think that realistically would probably take until then to get something through anyhow, but the legislation after that date that would extend it out for another 2 years, I think that that would be very welcome for folks and then correspondingly extending out the deadline of December 31st, 2026 to 2028 for people to get into the program. And, you know, with the reports that have come out that, you know, that are showing the amount of capital that have gone into opportunity zones, I think that it’s definitely proving to be a very effective tax incentive.

And so I think it would behoove the legislators to look at, okay, how can we make this even better? And how can we continue to flow the cash into the areas that need it the most? And I think that that would be a great way to do it is to position that with a two-year extension and once again, ideally after the deadline occurs so that, that way we don’t have the same thing that happened this year with there not being that kind of sense of urgency because we’re anticipating that 2021 is going to create a fair amount of urgency, especially for people with big capital gains because 10% on a big capital gain, you know, steps into becoming real money.

Jimmy: Yeah, it absolutely does. That’s a good point. I might disagree a little bit just to say that 10% can add up to real money, but I don’t know if it’s that important to get that 10%. It might be the least important of the three main tax benefits. It’s certainly not the most important. We know that the exclusion on the backend is the most important. Then there’s also tax rate risk also, especially if Biden gets elected in a couple of months here, you know, the capital gains tax rate could very well go up, which makes the tax benefit that much more enticing, the exclusion part of it. But you know, it makes the deferral period and the reduction…it almost washes it out depending on what the rate goes up to. And we’re speculating now, obviously, but go ahead.

Ashley: I agree with you that it’s not the, obviously the best piece of the program and that it’s…you know, that it is for…in some cases it can be a rounding error, but you know, the 2019 deadline and it was only a 5% step up in basis, so it was literally half of what’s available for the 2021 deadline. It was bedlam in December of 2019 because people wanted to grab all of the tax benefits that they could. And so it definitely created a sense of urgency and time pressure to…you know, for people to get their qualified opportunity funds set up and to get them funded.

The other piece of this, and this is what I kind of keep pointing to, is that if you’re remotely contemplating an opportunity zone deal, agreed that the deadlines are…they’re kind of silly because what you ought to be looking at is how quickly can I get this set up and my money into it because that’s what starts the 10-year hold with the biggest value of it, which is that step up in basis to fair market value.

And, you know, I think that a not very well advertised piece of that is, is that it’s not just eliminating capital gains, but it’s also eliminating depreciation recapture after that 10-year hold, which is…that’s a really, really attractive benefit. And so I think that, you know, the deadlines are, you know, that…I think that they’re good because it creates that artificial pressure on real pressure. If you, you know, you think about on a substantial capital gain, that 10% can be real money, but I think that people ought to be looking at how quickly they can get into these deals anyhow, because of getting that 10-year clock started. But ask me about what I would really like to see in a legislative package.

Jimmy: Yeah. So what would you really like to see in a legislative package then, Ashley?

Ashley: Well, funny you should ask Jimmy. Thank you. So I would really like to see them extended out for 2 years for that 10% step up for people that have capital gains dollars. And I’d love to see them lock in the capital gains rate for funds that are going into opportunity zone projects. And what I’d really like to see is them open it up to folks that don’t have capital gains that just wanna make an investment, because right now you have to have a capital gain to go into an opportunity fund in order to get the benefit of this. And so it’s excluding this whole host of money that could be going into these areas that would be very attractive to be able to pull that into this whole opportunity zone program. And so obviously if it’s non-capital gains, you wouldn’t have to worry about the step up in basis and the timing associated with it, unless…except for the fact that after 10 years, it would get that step up in basis to fair market value.

And so the, you know, the part of me that would say, okay, that’d be a great incentive from a tax savings standpoint, well now how do we kind of further the program itself as well, and maybe even get some of those guardrails back into the program, would be that any non-capital gains money or the money that wanted to lock in at the current capital gains rate would need to go into a project that had some kind of federal program associated with it, like low income tax credits or affordable housing tax credits, or some kind of a public incentive program that’s, you know, that’s already got, you know, infrastructure in place and they could participate in the program. And that that then becomes the guardrails because there’s natural guardrails associated with those types of projects. And it could be wide within that context of new market tax credit deals that are, you know, gonna be administered by your, you know, your community development foundations or other similar entities like that.

And I think that if we were to do that and we’re able to put in legislation along those lines, I think that we could see this program explode, and then it would explode in a really great way of channeling those dollars into projects that really need it and that are the typical impact investments that are really having impact, but that, you know, that can sometimes struggle to attract market rate, you know, capital dollars because their investment returns might be a little bit less than some of the other ones that are out there.

Jimmy: Right. Yeah. And that’s a really interesting policy proposal or legislative proposal. You brought that up with me a few weeks ago. I really liked it. I don’t know if it has any legs on Capitol Hill or not, but we’ll have to…

Ashley: Yeah… I’m happy to have a conversation with somebody about it if … and they can poke holes in my theory, you know, all day long.

Jimmy: Well, I liked that idea because, you know, you’re not putting additional guardrails on the opportunity zone initiative, but you are extending the benefit for investors so long as certain projects are able to prove that they are going to achieve legislative intent. And the proxy for that is has this project already been approved for some other type of federal program, whether that’s new market tax credits or LIHTC, or maybe some sort of grant aid, or something to that effect, is that right?

Ashley: Yeah, that was my thought is that there’s already, you know, organizations and groups out there that an infrastructure to be able to administer it and to, you know, to be able to confirm that it is going to comply, and that it’s going to meet the needs associated with that specific program, and that that’s how you, you know, that’s how you enact it fairly expeditiously. Now, I’m, you know, I’m probably not thinking about 18 million different unintended consequences and I might get admonished for my naivete, but I thought it was a good idea. And I thought…I think that it’d be really cool as an additional incentive for folks to, you know, to go into those types of projects that they could then get the bonuses of, you know, some, I think some really neat tax incentives that would then further capitalize the program, which is what we all wanna have happen.

Jimmy: Yeah. And I liked the idea, it allows a much wider class of investors to participate too. One of the knocks on the program is that, you know, only very wealthy individuals with capital gains, you know, the folks with capital gains are typically very wealthy top 1% individuals, you know, are able to participate, but this would open it up to anybody with any type of money, any type of income, any type of dollars that they can set aside to invest. It would allow a lot more main street type investors to participate, which I think would be great. But again, yeah, if you find any holes in Ashley’s proposal here, I’ll have his contact information on the show notes page. You can hit him up.

Ashley: You can read my cell phone number off the…on the phone, right, on the podcast.

Jimmy: We won’t do that, but unless you want to. Also just to correct something that I said earlier, I wanna correct myself. You know, I said, you know, capital gains rates could go up if Biden gets elected, but actually that’s not even really that important. This election is not the important election in terms of capital gain rates going up for 2026. Trump could win this year and be in the White House another 4 years, but then somebody else could come in in 2024 and change the capital gains rate for 2026. So I just wanted to clarify that point, that it’s actually going to be the capital gains rate in 2026 that’s going to be applied to any gains that are deferred through the opportunity zone incentive. So I just wanted to clarify that point. I misspoke earlier. So Ashley, tell us about some of the cool deals that you’ve come across through all the strategy calls and client work that you’ve done over the past year at OZ Pros.

Ashley: Well, it’s been interesting and it’s been fascinating to hear and to interact with entrepreneurs across the nation from main street mom and pops to, you know, massive kind of multinational companies who are looking to do stuff as well, to be honest, a little bit more of a challenge, but that they’re specifically looking at strategies that they can deploy in the opportunity zones in order to have the positive impact that the program was looking to make. One of the ones that I regularly talk about is a gentleman that’s doing a bamboo farm down in Florida. And there he’s teamed up with the OnlyMoso guys to ultimately sell that product. And it’s really neat how they’re able to take a, you know, basically an abandoned citrus farm that’s just completely laying fallow right now and they’re turning it into a productive bamboo orchard, if you will. I don’t know what you call a bamboo farm, but they’re turning it into a bamboo farm that’s producing not only bamboo for flooring and for clothes and for fabric, but they’re also producing food there.

And so it’s creating jobs, it’s creating…it’s adding to the economy and it’s making the economy more dynamic in an area that would otherwise not have seen it. I’ve seen some other kind of cool farm you know endeavors like that, where they’re doing kind of similar stuff with agricultural land. I actually have one group that’s forming a wetlands mitigation bank in addition to like an event venue. So that one’s kind of neat. And I’m seeing lots of operating businesses start to take hold and to get the notion that any operating business that’s not location-specific, and I think that we’ve seen COVID really dial that in, that locations might not necessarily be as paramount as people once thought.

And so it’s opening up people’s eyes to see that they could really probably be location agnostic. And so if you’re location agnostic, why not move into an opportunity zone and then, you know, harness the value of the tax incentive for that? And so I’ve actually talked with and helped some people that are buying active companies, and then they’re moving them into the opportunity zone. And that was… I talked to a guy that’s doing that with a machine shop. I’ve talked with some guys that are…they call it a, for lack of a better term, a blue collar accelerator, so they’re buying HVAC companies and electrical companies and plumbing companies, and they’re consolidating those into one operation that’s functioning inside of an opportunity zone. And then they’re opening that call center and the other things that they’re able to harness on kind of a collective basis to other groups and they’re educating them about how to do the same thing.

We’ve also seen the…kind of a whole bunch of municipalities starting to really get it and to really get into the mix of trying to capitalize on the opportunity zone play. And they’re working with groups just like that in order to make sure that they’re providing the resources and the other tools that those type of groups need in order to succeed and to flourish. And that’s been really neat to see as well is to see how opportunity zones are obviously a great tax incentive, but they’re also a unifying conversation topic, and they’ve brought resources together that I’ve never seen be brought together before. So that’s been really cool.

Jimmy: Yeah, absolutely, a lot of good examples there. I think you’re absolutely right. You know, if you are location agnostic, if you’ve got a call center or you’ve got a tech company, you know, why not locate in an opportunity zone? You’d be crazy not to almost or maybe not even, almost, I think you’d just be crazy not to.

Ashley: Certainly if you’re a startup too. Startups, I mean, why would you not be in an opportunity zone?

Jimmy: Yeah. No, great question. The bamboo farm example brought back some painful memories for me. I spent the weekend clearing out a whole bunch of bamboo in my backyard. That stuff grows like weeds, I’ll tell you what, but I hope he’s doing well down there in Florida.

Ashley: You should have called OnlyMoso. You could have sold it to him.

Jimmy: I know. Maybe I should. There’s a whole bunch of it in my front yard if he wants to grab it. All right. Well, Ashley, thanks for joining me today. We’re getting toward the end here, but, you know, before we go, maybe you could spend a couple minutes telling our listeners what we’re working on at OZ Pros next year, toward the end of the year and looking into 2021. What have we got going on at OZ Pros? What are some of the new products and services that we’re gonna roll out pretty soon here?

Ashley: So one of the things that’s been a huge need is, you know, some form of compliance assistance. And so we’ve actually got a package for that now to where we are working with the folks that we’ve helped set up to help them maintain their compliance on an ongoing basis. And once again, we’ve tried to bring value and a whole lot of value for a very reasonable price to that. And so that’s gonna be one of the things that we’ll roll out this year in a big way.

Second is a community that…and we’re, you know, we’re still working out the kinks on what that community’s gonna look like and the extent of it. But we’re really trying to unify the folks that have either been customers or interested in opportunity zones, and a way to facilitate interactions and communication, and bringing them up to date with information. And so that’ll be one of the elements that we have that are…will be coming out in 2021, maybe even perhaps before 2021, at the end of 2020.

And a really neat thing that we’ve actually…we’re actually executing on right now is that we’re helping municipalities to educate their stakeholders about opportunity zones. And I’m actually working with a city in West Virginia. So the city of Bluefield, West Virginia, and we’re doing a three-part seminar on opportunity zones for their economic developers, their bankers, their accountants, their lawyers, but most importantly, their business owners about showing people how they can set up an opportunity zone business, and qualify for cash incentives from the state of West Virginia.

It’s actually really cool what the state of West Virginia is in the process of passing, that any opportunity zone that’s newly established in the state of West Virginia is tax-free both personal and corporate for 10 years. And so it’s neat to see how the state has kind of come alongside a federal program to really try and get folks to focus on becoming qualified opportunity zone businesses. And so we’re gonna be doing a three-part workshop. We’re actually gonna be running one…we’re gonna be running one, I guess, lucky customer through a scholarship where we’ll be setting them up as a qualified opportunity zone business, and we’ll be helping them do all of the compliance and the pro forma and pitch deck that they need in order to be able to present to investors.

So that came through and that program came as a result of a grant that the city of Bluefield was able to put together. They had a really sharp economic developer by the name of Jim Spencer that was able to chase down that grant money. And so that’s one of the things that we’re working on for next year is to really plug in both qualified opportunity zone businesses and municipalities and other groups that want to see opportunity zones flourish with available grant money, so that we can educate and execute on the benefit that is opportunity zones.

Jimmy: Perfect. Well said, Ashley. Yeah, we’ve got a lot going on over here at OZ Pros. And if you’d like to work with Oz Pros, your first step is typically to schedule a strategy call with Ashley Tison. It’s a paid strategy call, but we do have a special deal for Opportunity Zones Podcast listeners. You can save $50 on your first opportunity zone strategy call with Ashley. [Listen to the podcast for the URL to access the deal.]

For our listeners out there, thanks for listening. You can find show notes as always on the Opportunity Zones Database website, and those show notes will be available at opportunitydb.com/podcast. And there you’ll find links to all of the resources that Ashley and I discussed on today’s show. Ashley, thanks for joining us today. Thank you.

Ashley: Thank you, Jimmy. As always, it’s a pleasure, and I really appreciate what you’re doing in order to get the information out to all of those folks interested in opportunity zones. And I’m excited about seeing where this program is heading.

Jimmy: You and me both, Ashley. Thank you.

Ashley: Cheers!

Jimmy Atkinson

Jimmy Atkinson

Hi, I'm Jimmy Atkinson... I founded OpportunityDb in August 2018. I'm a veteran Internet entrepreneur with a background in economics and Web marketing. I previously founded ETFdb.com. These days, I am passionate about impact investing and tax-advantaged investment opportunities. At the crossroads of these two ideals is the opportunity zones program, a place-based tax policy intended to economically transform some of the poorest areas of the United States with new real estate and business development.

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