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Opportunity Zones:
A Quick Overview
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A Quick Overview
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What are they:
An economic development program created under Obama and established by Congress in the 2017 Tax Cuts and Jobs Act to develop distressed communities in low income census tracts (aka the hood)
An economic development program created under Obama and established by Congress in the 2017 Tax Cuts and Jobs Act to develop distressed communities in low income census tracts (aka the hood)
The Purpose:
To encourage investors to take use their capital gains in their portfolio by providing tax advantaged investment opportunity
To encourage investors to take use their capital gains in their portfolio by providing tax advantaged investment opportunity
How They Work:
Banks, Investors, and communities will be allowed to pool their money into Opportunity Funds to invest in the designated census tracts.
Banks, Investors, and communities will be allowed to pool their money into Opportunity Funds to invest in the designated census tracts.
The Incentive:
Investors using current capital gains can defer paying taxes to re invest in opportunity funds. They will be eligible for tax cuts or exemption depending on how long they invest. If they leave the money there for 10+ years that won’t be taxed on new capital gains
Investors using current capital gains can defer paying taxes to re invest in opportunity funds. They will be eligible for tax cuts or exemption depending on how long they invest. If they leave the money there for 10+ years that won’t be taxed on new capital gains
What Does All This Mean?
There is more money sitting in capital gains than there ever has in US history. These enticing incentives will bring a lot of money into our neighborhoods. If we don’t prepare ourselves we will get left behind.
There is more money sitting in capital gains than there ever has in US history. These enticing incentives will bring a lot of money into our neighborhoods. If we don’t prepare ourselves we will get left behind.
Don’t sit around and complain about gentrification if you aren’t willing to do anything about it! Even if you don’t have money in capital gains you can position yourself to win if you have the right information
That’s why I’m thankful that @CharmCityBuyers put together this course so that our people can know all they need to about OZ funds and how to take advantage of them.
If you want to learn everting you need to know about OZs the link is in our bio!
If you want to learn everting you need to know about OZs the link is in our bio!
