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Ohio Opportunity Zones Eligible for New 税 Credit
The introduction of Qualified Opportunity Zones has created an effective tax planning opportunity for taxpayers to reduce their federal income taxes while providing needed investment and funding for economically challenged areas. While it’s yet unclear how investments in Qualified Opportunity Funds will ultimately impact these areas, investment in opportunity zones has become an increasingly popular way for Ohio companies and […]
Empowerment Zone 税 Incentives Extended
On 12月ember 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (CCA, 2021). The Act contains numerous individual, 业务, 工资, 灾难, and energy-related tax provisions, as well as tax extenders. One of those tax extenders was the extension of Empowerment Zone 税 Incentives, which The Act extends through 12月ember 31, 2025. Under pre-Act law, Empowerment Zone designations were set […]
Ohio Opportunity Zone 资源
Since tax reform was passed in 12月ember of 2017, 业务 and individual taxpayers have been searching for the best way to defer capital gains taxes. The implementation of Qualified Opportunity Zones represents a powerful tax planning tool that not only defers tax but makes a positive investment in struggling and challenged communities. There have been many questions about Ohio Opportunity […]
Ohio Opportunity Zone Credit Application Now Available
Article written by: Christy Macioce, CPA 税 Senior Opportunity Zones were created through the 税 Cuts and Jobs Act (TCJA) to spur long-term investment in distressed communities. At the federal level, taxpayers are able to invest capital gains in a Qualified Opportunity Fund creating substantial tax benefits. In response to the federal incentive, Ohio enacted an Opportunity Zone credit for […]
Qualified Opportunity Zones Update
Webinar length: 60 min. Given our nation’s stagnant economy, the IRS recently announced the extension of certain deadlines for taxpayers making investments in Qualified Opportunity Zone (QOZ) funds. sbf88胜博发手机版导演, 税 and Business 咨询 服务, Azra Nakicevic and DBL Law’s attorney, Ryan Whitaker review tax incentives available for QOZ investments and discuss several other QOZ matters, including: Federal rules and […]
What Really Happens To Your 税es When You Invest In An Opportunity Zone?
When legislators first introduced qualified opportunity zones (QOZs) to Congress, they argued that such a law would spur economic growth in distressed communities all across the United 状态s. This provision ultimately was adopted as part of the 税 Cuts and Jobs Act in 12月ember 2017. To encourage taxpayers to invest in these “opportunity zones,” tax incentives were created for those […]
Common Misconceptions sbf88胜博发手机版 Investing In Opportunity Zones
Article written by: Darci Congrove, CPA Managing Director Since the Federal Opportunity Zone tax incentive program was written into law at the end of 2017, state and local governments have designated more than 8,700 economically depressed regions across all 50 states as qualified opportunity zones. When taxpayers direct their capital gains into these designated zones, they are rewarded with the […]
Opportunity Zone Frequently Asked Questions
How long will QOZ designations remain in effect? Specific census tracts in distressed communities that were granted QOZ designation will retain their QOZ status until 12月ember 31, 2028. QOZ investments in these areas are valid through 12月ember 31, 2047. How can one invest in a QOZ? To receive the tax benefits, taxpayers must invest their realized capital gains into an […]
Qualified Opportunity Zone Update: IRS Public Hearing Held on 2月ruary 14
Article written by: Darci Congrove, CPA Managing Director Qualified Opportunity Zone Update IRS Public Hearing Held on 2月ruary 14 The 2018 tax filing season is in full swing, which means that tax professionals across the country are in the midst of applying the provisions of the 2017 税 Cuts and Jobs Act to actual tax returns for the first time. 一个[…]