The Tax Cuts and Jobs Act created a tax incentive requiring investments in Opportunity Zones (OZs) to spur economic development in designated low income and/or economically distressed communities. Investments in Opportunity Zones are used to provide capital to under-served communities to start businesses, significantly improve property, or provide housing. In exchange, investors may realize significant tax savings and developers obtain capital for projects in OZs.
On behalf of Barnes Dennig and Stagnaro, Saba & Patterson Law Firm, we invite you to join Barnes Dennig Director, Cheryl Ganim and Tax Manager, Jennifer Wesselman, for breakfast and a roundtable discussion about Opportunity Zone tax incentives, investments, and capital for new businesses and real estate development.
Some of the benefits of investing in OZs include:
- Temporary tax deferral on reinvested capital gains.
- Up to a 15% gain elimination on reinvested gains held for up to 7 years.
- Permanent elimination of federal income tax on gain on the appreciation of the initial investment of capital gain after 10 years.
This seminar is presented free of charge by Barnes Dennig and Stagnaro, Saba & Patterson. CPE credit will be awarded to those who attend.