Contact Us Now

11353 REED HARTMAN HIGHWAY
SUITE 300

CINCINNATI , OH 45241
PHONE: 513-412-3483
FAX: 513-412-3482

 
 
 

OUR FAMILY OF
STRATEGIC TAX SERVICES

News

June 19, 2019

KeyBank Advises: Look Before Leaping Into Opportunity Zones

 

GlobeSt.com
By John Salustri

BOISE, ID–The time is ripe for entrants with capital gains burning a hole in their pockets to invest in Opportunity Zones, the government-created incentive program to draw capital into downtrodden areas.

“In order to take advantage of the full benefit of the program, 2019 really is a critical year to get dollars invested in a project,” says Jennifer Seamons, SVP, KeyBank Community Development Corp. “There is a deadline of Dec. 31, 2026, when the tax from the capital gain deferral will be owed. At that point investors will have been able to receive a reduction in the capital gains taxes otherwise paid through the five and seven-year hold periods.”

Now is the time, she says, to invest with the expectation of maximum tax benefits. “It doesn't preclude you from investing after 2019,” she adds, “but the value of the benefit will be diminished enough that it may lessen the pool of willing investors.” Read more.

 
Back to Top