Today, President Trump signed Executive Order 13853, promoting public commitment to the opportunity zones program enacted last December as part of the Tax Cuts and Jobs Act of 2017. The executive order establishes the White House Opportunity and Revitalization Council, led by HUD Secretary Ben Carson. The council is tasked with streamlining, coordinating, and targeting
Opportunity Zones News
Family offices and high net worth individuals: if you have questions about investing in opportunity zones, this is the episode for you. Joining me is DJ Van Keuren — a top 10 U.S. family office real estate professional. DJ literally wrote the book on family office real estate investing. He is also a member of
A working group of accountants formed by Novogradac sent a letter to the U.S. Treasury last month, requesting further clarification in the wake of the proposed regulations (IRS REG-115420-18) published in October. In part, the letter states, “Taxpayer uncertainty around these issues is hindering investment in opportunity zones.” Taxpayers must invest capital gains into opportunity
Today’s guest is opportunity fund consultant David Sillaman, president and fund developer at Eazy Do It Opportunity Funds. Approximately $6.2 trillion in capital gains is eligible for investment in opportunity zone funds, with the potential to create a huge change across America. Some estimates expect $150-$250 billion to flow into these funds between now and
Today’s guest is self-described “codehead” Tony Nitti, real estate tax law expert, CPA, and partner at WithumSmith+Brown. He also serves on the editorial advisory board for The Tax Adviser. And he’s a contributor at Forbes.com, where he recently published a thorough primer on the opportunity zones tax incentive. Click the play button below to listen
How much do you know about opportunity zones? Maybe you know the basics — that the opportunity zones program is an economic policy intended to revitalize some of the most economically distressed areas of the country, and that to encourage investment in such communities, huge tax benefits await investors. Capital gains deferral on the front
Most qualified opportunity zone funds are geared toward real estate. Because 90% of a fund’s assets must be held within OZ geographies, real estate investing is simpler than business venture investing. That said, the actual purpose of the legislation itself was to spark small business and entrepreneurship in oft-ignored areas of the country — not
Due to the preferential treatment created for Puerto Rico in US Code Section 1400Z-1(b)(3), nearly the entire island is an opportunity zone. Governor Ricardo Roselló has estimated that the opportunity zones initiative “has the potential to inject more than $600 million in new investments into the local economy.” Earlier this week, the governor sent a
Professional tax advisor Tony Nitti of WithumSmith+Brown’s National Tax Service Group has an excellent and thorough (and at times humorous!) Q&A-format article on Forbes this week. The article dives headfirst into many of the subtle nuances of the legislation, dealing with original gain deferral, the 180-day window, qualified opportunity funds, OZ property, and tax savings.
Earlier today, the U.S. Treasury Department released REG-115420-18, Investing in Qualified Opportunity Funds — a 74-page regulatory document that clarifies many ambiguities surrounding the new opportunity zones program created by Trump’s Tax Cuts & Jobs Act, but also raises additional questions. The regulations are still not finalized. There are a few more steps to go through
OpportunityDb.com provides world-class tools, education, and analysis to help interested parties discover opportunities in the federal Opportunity Zones program.