Speaker: Andrew Gradman
Topic: Qualified Opportunity Zones – Exciting New Capital Gain Deferral Opportunity
The 2017 Tax Act created an exciting new capital gain deferral opportunity: Qualified Opportunity Zones. Congress’ idea was to funnel the $6.1 trillion in capital gains sitting in mutual funds, stocks and corporations that investors had not cashed in into economically struggling areas by offering a tax break to investors who reinvest their gains in so-called Qualified Opportunity Zone (“QOZ”) Funds. In theory, anyone can create a fund of any size by setting up a qualifying entity and filing the proper paperwork. More than 8,700 spots across the country have been certified as QOZs, which are collectively home to 35,000,000 residents, spread across rural and urban areas in all corners of the country. Andrew Gradman will answer your questions about the tax benefits and the rules on setting up your own QOZ fund. The tax benefits are significant, but are not Nirvana.
About our Speaker
Andrew Gradman practices in tax, trusts, and estate planning at Givner & Kaye. He previously worked in government, first at the U.S. Attorney’s Office and later as a staff attorney at the Ninth Circuit. He received his J.D. from Columbia University and his LL.M. in Taxation from New York University. He is a member of the Los Angeles Lawyers Philharmonic (cello).