Qualified Opportunity Zones: Maximizing the Tax Benefits | 4194251A

Instructors

Date :
October 17, 2019 10:00 AM - 11:00 AM
Location :
Webcast
Facility :
Webcast Remote
Level of Difficulty :
Advanced
Member Price :
37.00
Nonmember Price :
50.00
CPE Credits :
CPE 1.00, MCLE 1.50
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As part of the TCJA, Congress added new Subchapter Z, “Opportunity Zones.” The theory is trickle-down economics: To the extent investors grow their investments in QO Zone communities, they are viewed as having enriched these communities, and are rewarded with a step-up in basis. Investing in distressed communities is risky, and is a deterrent to many investors. However, in a move that has not been widely appreciated, Treasury recently gave its blessing to a further tax benefit that has the potential to mitigate this risk. Specifically, in its April 2019 proposed regulations, Treasury interprets the step-up in basis to include basis previously recovered due to accelerated depreciation or expensing. This effectively turns an interest-free loan into forgiveness of the principal amount. These “proposed” regulations are just that. If they change, today’s investors cannot rely on them. Nevertheless, it is worth understanding the scope of this apparent tax shelter, and how it might be used to reduce the risk of a QO Zone investment.

Objectives:

• Determine whether QO Funds are a fit for your CPA practice.
• Identify clients who might want to consider investing in (or offering investments in) a QO Fund, and understand how to answer their questions.
• Recognize how to maximize the tax benefits for QO Fund investors and businesses.

Major Subjects:

• How QOZs work (brief overview).
• Thinking about QOZs in traditional terms: maximizing business value.
• Thinking about QOZs in unconventional terms: maximizing other tax benefits.

Advanced Prep:

None

Misc. Information:

Pay the lowest price and save up to 60% with the CalCPA Education Foundation’s discount programs.
Level of Difficulty:
Advanced
Field of Interest:
Taxes
Prerequisites:
Basic familiarity with the tax benefits of investing in QO Funds, and with the requirements for QO Funds to avoid penalties.
Designed For:
CPAs, business owners or investors (real estate or otherwise)

Instructors

Andrew Gradman
At Givner & Kaye, Andrew advises clients on a range of tax planning, tax controversy and estate planning matters. Before joining the firm, Andrew worked in government, first at the U.S. Attorney’s Office and later as a staff attorney at the Ninth Circuit Court of Appeals. He received his B.A. from Stanford University, his J.D. from Columbia University and his LL.M. in Taxation from New York University.

Materials:

  • Materials - eBook