Opportunity Zones Update: Key Dates & Benefits
Over the years, CLA has become a leader in the opportunity zone compliance and consultation space, working with numerous stakeholders of the opportunity zone program, including individual investors, fund managers and sponsors, developers and operators, and small business owners.
Through December 31, 2021, CLA clients have personally invested over $1 billion in Qualified Opportunity Zones (QOZs), with approximately 25% of the clients investing more than $1 million in QOZs. CLA’s business clients have also raised and deployed $1.3 billion into property located in over 80 QOZ census tracts, which represents about 220 Qualified Opportunity Funds (QOFs) and Qualified Opportunity Zone Businesses (QOZBs).
CLA’s national team of subject matter experts, wealth advisors and analysts can help you understand when a QOF investment can be considered, the tax benefits of investing in QOFs, the critical items to consider when making a QOF investment decision and potential alternative strategies to defer federal capital gains tax liability.
Please join us for a one-hour complimentary webinar on May 24th where we will explore the potential benefits of investing in QOFs. Speakers will include Brian Duren, Tony Hallada, Jack Rybicki and Lucas Whelan. You can register for the complimentary webinar here.
- Carey M. Heyman, CPA
- Managing Principal of Industry - Real Estate
- CliftonLarsonAllen LLP
- Century City (Los Angeles)
Carey is the Managing Principal of the Real Estate Industry at CLA. He is a trusted advisor with close to 20 years of experience providing accounting, assurance, tax, and consulting services to real estate industry owners, operators, family offices, developers and syndicators. Carey has a strong track record of helping clients build and retain capital by leveraging tax- and cost-saving strategies and employing tax credits and incentives. He also consults with high net worth individuals, large family groups, and owners of closely-held businesses on all aspects of tax planning, estate planning, and retirement planning.
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