Biggest tax break for real estate investors since the 1031 exchange

Posted on August 16th, 2018 in Tax.

Erica England, Redwood’s Chief Accounting Officer, recently attended a capital raise and technology webinar where one of the presenters mentioned the Opportunity Zone tax reduction that is part of the Tax Cuts and Jobs Act. This program is replete with new opportunities from which you may benefit. We reached out to our colleague Dustin at Berkowitz Pollack Brant CPA’s, with whom we share several mutual clients, to get his view on how this program has already affected his clients and what untapped opportunities lie ahead.

Dustin provided an excellent summary of how the program works including,

  • Opportunity to roll virtually any appreciated asset into a defined Opportunity Fund and defer capital gains taxes
  • Potential to avoid gains on sale of Opportunity Fund properties
  • Potential to realize a step-up in the basis of original investments

Click on the link to read the summary:  Opportunity Zones

Fairway America’s, CEO, Matt Burk has referenced another informative article about this subject.  Click here to read and learn.

Please feel free to reach out to Dustin at dgrizzle@bpbcpa.com or Erica at erica.england@redwoodrea.com if you would like to learn more and thank you for your support of Redwood.

 

 

Neither Fairway America nor any of its affiliated entities offer or provide any legal, accounting, or other advice that requires a professional license. None of the materials in this email or the related materials are intended to be or should be considered legal, accounting, or similar advice. No one receiving materials may rely on them as a substitute for appropriate professional advice. Fairway America strongly encourages and advises anyone receiving these materials to consult with their own independent attorneys, CPAs, and other professionals in order to ensure that any actions taken in connection with the materials complies fully with all applicable laws, rules, and regulations.
Posted in Tax