Business Trends: Tax Update: Qualified Opportunity Zones – Understanding the Opportunity


Course Description
The Tax Cuts and Jobs Act gives taxpayers a new planning tool, Section 1400Z, for deferring and reducing capital gains that are reinvested in a Qualified Opportunity Fund (QOF). A QOF is an investment vehicle designed to invest in property or businesses located in designated low-income areas throughout the U.S., the District of Columbia and U.S. territories. These areas are defined as Qualified Opportunity Zones (QOZs). Potential tax benefits for investing into a QOF include the deferral and partial exclusion of capital gains and the permanent exclusion from taxable income of any appreciation in the QOF interest if it is held for at least 10 years.

Join us to learn more about the goals of the QOZ program, the potential tax incentives, requirements for qualification based on recently proposed regulations, and strategies for investing in and exiting a QOF.

Learning Objectives:

  • Review the background of the QOZ program and potential tax incentives
  • Outline the requirements for operating a QOF
  • Discuss the types of property or businesses a QOF can invest in
  • Identify ways to optimize the tax benefits when exiting a QOF

Adam Sweet, JD, LLM, Principal

Adam has extensive knowledge in the area of partnership tax including interpreting partnership agreements, allocation and distribution provisions, and issuing profits interests. He is also experienced with both the buying and selling sides of domestic and foreign joint ventures, and he assists with IRS controversy matters, including IRS exams and appeals hearings.

Joe Monty, CPA, Partner
Joe provides tax and accounting services to a variety of industries, specifically manufacturing, dealerships, banking, real estate, professional services, and agriculture. His experience also includes time with a Big Four firm, where he worked with middle to large market clients as a senior tax consultant. Joe is adept at identifying creative tax strategies for high net worth individuals, trusts, partnerships and corporate taxpayers.

Mac Stevens, CPA, Tax Consultant
Mac has more than 30 years of public accounting and tax consulting experience with individuals, business entities and tax-exempt organizations. He has consulted extensively with real estate developers and financial institutions on income tax planning issues, acquisition strategies, financing and regulatory matters. He spent nearly 10 years in the banking industry.

CPE Information
CPE Credits: 1
Field of Study: Specialized Knowledge and Applications
Level of Knowledge: Basic
Delivery Method: Web-Based Group Session

Additional Information:
These are web-group seminars. No prerequisites or advanced preparation required. For information regarding refund, complaint and program cancellation policies, please contact Jason McKeever at 701.476.8773.

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