โฃ โฃ @MeekMill said #ItsLevelsToThisShit โฃโฃ๐ฏโฃ โฃ the phrase of the day is ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐๐จ๐ง๐๐ฌโฃโฃโฃ โฃโฃโฃ The Tax Cuts and Jobs Act (๐๐๐๐,) known for creating Opportunity Zones, is often celebrated for its potential to move billions of dollars into low-income communities. โฃโฃโฃ โฃโฃโฃ Opportunity Zones (๐๐๐ฌ) are defined as โeconomically-distressed communities where new investments, under certain conditions, may be eligible for preferential tax treatmentโ โฃโฃโฃ โฃโฃโฃ How it works is that each state nominates blocks of low-income areas by census tract, which are then certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service. โฃโฃโฃ โฃโฃโฃ Through the IRS, investors can file a ๐
๐จ๐ซ๐ฆ ๐๐๐๐ to create a ๐๐ฎ๐๐ฅ๐ข๐๐ข๐๐ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐
๐ฎ๐ง๐ โ vehicles structured as either a partnership or corporation for the purpose of investing in an OZ census track, whether in real estate or directly in businesses through equity. โฃโฃโฃ โฃโฃโฃ ๐๐ก๐ ๐๐ฎ๐ง๐ ๐ข๐ฌ ๐ซ๐๐ช๐ฎ๐ข๐ซ๐๐ ๐ญ๐จ ๐ก๐จ๐ฅ๐ ๐๐ญ ๐ฅ๐๐๐ฌ๐ญ ๐๐% ๐จ๐ ๐ข๐ญ๐ฌ ๐๐ฌ๐ฌ๐๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐๐ญ ๐ช๐ฎ๐๐ฅ๐ข๐๐ฒ๐ข๐ง๐ ๐๐ ๐๐ซ๐๐.โฃโฃโฃ โฃโฃโฃ MAJOR ๐ @DJKhaled (voice) โฃโฃโฃ โฃโฃโฃ To make a profit, essentially a taxpayer must sell an asset and generate a capital gain. โฃโฃโฃ โฃโฃโฃ The taxpayer then puts the capital gain into a Qualified OZ fund. There is ultimately delay and reduction of taxes owed to the government โ if held for 10 years, that taxpayer can pay zero capital gains tax on the new investment in the fund. โฃโฃโฃ โฃโฃโฃ I think thatโs the real prize: if you hold your investment in some of these opportunity zones from funds, ๐ฒ๐จ๐ฎ ๐๐ฌ๐ฌ๐๐ง๐ญ๐ข๐๐ฅ๐ฅ๐ฒ ๐ฉ๐๐ฒ ๐ง๐จ ๐ญ๐๐ฑ ๐จ๐ง ๐ฒ๐จ๐ฎ๐ซ ๐ซ๐๐ญ๐ฎ๐ซ๐ง๐ฌ, which could lead to a ๐๐-๐๐% ๐ข๐ง๐๐ซ๐๐๐ฌ๐ ๐ข๐ง ๐ฒ๐จ๐ฎ๐ซ ๐๐ง๐ง๐ฎ๐๐ฅ๐ข๐ณ๐๐ ๐ซ๐๐ญ๐ฎ๐ซ๐ง. โฃโฃโฃ โฃโฃโฃ Thatโs what I want people to really understand: this isnโt a small tax benefit, itโs pretty massive.โฃโฃโฃ โฃโฃโฃ Alexa..Play #BuyBackTheBlock by @RichForever and @LaFlare1017 โฃโฃโฃ โฃโฃโฃ #OpportunityZone #NoCapitalGainsTax #OpportunityFund #BlackExcellence #VentureCapitalist โฃโฃ โฃโฃ โฃSource: https://www.forbes.com/sites/morgansimon/2019/03/30/what-you-need-to-know-about-oppo https://www.instagram.com/p/CBhUp78FPeu/?igshid=gl0cyp7kzqrr
