I had the opportunity today to speak to The Realtors Commercial Alliance of Savannah/Hilton Head, a group of commercial real estate professionals, about Opportunity Zones at their April meeting. I shared some of the legislative history related to the program, the possible tax benefits, and the recipe for a successful opportunity zone project: a qualified opportunity zone, capital gain from an eligible taxpayer, an opportunity fund, new capital investment in opportunity zone business property, and a trade or business — all held and/or operated for the time periods, and meeting the benchmarks required by the statute.
Click HERE if you would like me to send you the slides from the presentation.
Joey Strength is a partner at HunterMaclean, practicing primarily in real estate and development law, estates and trusts, and business transactions. He is a trusted advisor to his clients, ranging from individuals to publicly traded companies, and provides them with quality legal representation and advice across various areas. Joey strives to understand his clients’ personal and business needs to find creative solutions to their legal problems.
Joey is a proponent of the Opportunity Zone legislation that was included in the 2017 Tax Cut and Jobs Act and has represented HunterMaclean in a national working group of attorneys, accountants, developers, and others who have collaborated to provide input in the regulatory process. He is currently working with a number of clients who are considering how they might benefit from the program and enjoys sharing about the program with others.
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