opportunity zones | Wall Street Financier: Notes from High Altitude© https://wallstreetdealmaker.com He who makes a beast out of himself gets rid of the pain of being a man. Mon, 20 Sep 2021 15:45:47 +0000 en-US hourly 1 https://i0.wp.com/wallstreetdealmaker.com/wp-content/uploads/2018/12/pitbullgif.gif?fit=32%2C22&ssl=1 opportunity zones | Wall Street Financier: Notes from High Altitude© https://wallstreetdealmaker.com 32 32 155119938 OZs https://wallstreetdealmaker.com/2021/09/ozs/ https://wallstreetdealmaker.com/2021/09/ozs/#comments Mon, 20 Sep 2021 15:36:15 +0000 https://wallstreetdealmaker.com/?p=2480 OZs or opportunity zones were enacted in the 2017 Tax Cuts and Jobs Act. If you invest capital gains from a previous investment in a building or business in a census tract designated as an OZ by a state governor, you can defer and reduce taxes on that initial gain, … Continue ReadingOZs

The post OZs first appeared on Wall Street Financier: Notes from High Altitude©.]]> OZs or opportunity zones were enacted in the 2017 Tax Cuts and Jobs Act. If you invest capital gains from a previous investment in a building or business in a census tract designated as an OZ by a state governor, you can defer and reduce taxes on that initial gain, and then pay zero capital-gains tax on that investment, provided you stick with wit for 10 years or more.

The WSJ says there are 8,764 of those in the U.S. (Sat/Sun Sept 17, 2021). A few kind of businesses are ruled out -tanning salons, golf course and liquor stores.

“But there is no requirement that a project actually benefit residents of that zone.”

WSJ

We’ve found out the idea of OZs came from Sean Parker, of Napster and Facebook fame.

WSJ

“Self-storage facilities, which create hardly any jobs, are sprouting with OZ money. So is luxury student housing- in university towns, which are eligible only because college kids show up as poor in census tallies.”

WSJ

Do any readers participate as investors in an OG ? If so, let us know in the comments.

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