The significance of investing in Opportunity Zones; comment from Dan Gauthier,  Rose Law Group transactional attorney

Getty

 

By Elie Rieder | Forbes

The Tax Cuts and Jobs Act created quite a stir when it was first drafted and eventually passed, with all sides of the political spectrum arguing for and against the proposed changes. It is unfortunate, but commonplace now, that within Congress there are tremendous divides on just about every major issue. On taxes alone, the estate tax, pass-through business taxation, certain personal tax matters, acceptable deductions and the various waivers, each and collectively, are lauded or criticized. However, there was one policy within the Tax Cuts and Jobs Act that was attractive and beneficial to members of Congress on both sides of the aisle: Qualified Opportunity Zones.

Qualified Opportunity Zones was originally introduced in the Investing in Opportunity Act (IIOA) during the 114th Congress; it was reintroduced in 2017in the 115th Congress by Sen. Tim Scott, R-S.C., and Sen. Cory Booker, D-N.J. and Representatives Pat Tiberi (R-Ohio) and Ron Kind (D-Wis.), where it received nearly 100 congressional cosponsors. The goal of these opportunity zones, or O-Zones according to the IRS, is to strengthen distressed neighborhoods across the United States through economic development and incentivize job creation in those communities.

Why do we need Opportunity Zones?

READ ON:

 “The Investing in Opportunity Act and, in particular, the Opportunity Zone program, will drive investment into affordable workforce housing in markets across the country, due to the increased demand for high-quality rental housing.”  ~Dan Gauthier

Share this!

Additional Articles

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories
December 2018
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31