Frank McGrew, managing partner at McNally Capital, returned to the podcast to discuss new guidance from the U.S. Treasury Department for investing in opportunity zones, including how to file, the time period in which investments must be made, and stipulations for investing in operating businesses.
The 2017 Tax Cuts and Jobs Act created the opportunity zone program, which incentivizes investors to deploy capital gains into economically disadvantaged areas. McGrew provided an overview of opportunity zones in an earlier episode of this podcast.
** McNally Capital and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for information purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.**
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