Join us today as Blake Christian reveals the secrets of Opportunity Zone funds. He's here to explain the flexibility and tax benefits of these funds. He highlights the program's role in encouraging investments in underserved communities. He also shares the challenges in navigating the rules and compares OZ funds with other tax deferral strategies like 1031 exchanges. Prepare to learn everything you've ever needed to know about OZ funds! Today we discuss...
- How OZ funds allow deferring capital gains if reinvested within 180 days, with potential tax-free appreciation if held for 10 years.
- Which six states do not conform to Opportunity Zone benefits.
- Over 8,000 census tracts qualify for Opportunity Zone investments, targeting underserved communities with high unemployment and welfare recipients.
- How OZ funds can be used for real estate and operating businesses, attracting investments into otherwise neglected areas.
- The complexities and potential pitfalls in structuring OZ funds, including the necessity of making proper elections and meeting improvement requirements.
- When combining Opportunity Zone funds with Section 1202 qualified small business stock can provide additional tax benefits.
- Installment sales are a simpler alternative for deferring gains but carry risks of higher future tax rates.
- California aggressively taxes deferred gains from 1031 exchanges and Opportunity Zones, even if the taxpayer relocates to another state.
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Today's Guest: Blake Christian
Blake brings over 35 years of experience providing tax consulting and compliance services to clients that include multinational, publicly-traded corporations and closely held owner-managed businesses. Throughout his entire career, Blake has specialized in federal, state, and local tax incentive programs. Blake is leading the firm’s efforts in providing tax consulting services for Qualified Opportunity Zones (OZ). Blake and the HCVT OZ Team have formed over 50 Qualified Opportunity Funds (QOF) and over 50 Qualified Opportunity Zone Businesses (QOZB). They have also advised hundreds of other investors and professionals regarding the complexities of formation, operation, semi-annual testing, and restructuring of QOFs and QOZBs. As a thought leader, Blake has been recently interviewed by US News and World Reports and other national publications providing insights into this powerful yet complex tax incentive program and has authored several articles and HCVT Tax Alerts about OZ and QOFs. Blake has developed unique insights into OZ strategies for real estate developers and investors, as well as for operating business start-ups and expansions. In addition to tax incentive consulting, Blake provides partnership and individual tax planning and compliance services. His broad industry experience includes manufacturing and distribution, service companies, restaurant, shipping and transportation, energy, and healthcare.
Blake's Online Presence:
Today's Panelists
Phil Weiss | Apprise Wealth Management
Kirk Chisholm | Innovative Advisory Group