For those who haven’t read our original piece on the topic, Opportunity Zones are areas officially designated by the US government as in need of investment. Most of Detroit, for example, is an Opportunity Zone.
And by investing in them, you get a tax break… sometimes a significant one.
As we initially wrote to you, the original Opportunity Zones legislation, tucked into the Trump’s tax reform, was just six pages long. These pages hinted at the program’s potential, but there were still too many uncertainties to go all-in.
The IRS got wind of investors’ questions, and in October 2018, the agency released its first set of guidelines. Those guidelines made it crystal clear that the government intends to make Opportunity Zones flexible and favorable to investors.
At that time, we wrote that the program went from GOOD to GREAT.
Still, many uncertainties remained, and investors largely stayed on the sidelines.
Finally, on April 17, 2019, the IRS released a second round of clarifications.
We can happily say that the government is bending backwards to make Opportunity Zones (OZ) as favorable as possible for investors.
The program has now gone from GREAT to FANTASTIC.
There will be even more clarifications coming from the IRS in the future, but at this point, we believe there’s enough robustness and clarity for you to consider investing on your own or with one of the many professional funds across the nation.
There’s a catch, though: the Bolsheviks. If they come to power in 2020, they could scrap the program altogether, because even though it benefits the poor, it also benefits “the rich”. In such a scenario, they might forbid all new OZ investments.
That means it’s a good idea to consider investing sooner rather than later.
If you are sitting on any considerable capital gains, now is an excellent time to take a serious look at the program.
In today’s report, we outline the latest news on Opportunity Zones.(It’s all positive.) And we give you multiple examples of businesses that our friends are already pursuing under the program (and that you can pursue, too).
Click here for more on how Opportunity Zones can be an opportunity for your investments.
One of the biggest tax-saving opportunities around if you’re a US taxpayer (besides Puerto Rico’s fantastic Acts 20 and 22) is investing in Opportunity Zones. For those who haven’t read our original piece on the topic, Opportunity Zones are areas officially designated by the US government as in need of investment. Most of Detroit, for…