Peter Bower, the founder of Riverplace Capital based in Jacksonville, FL, is an expert on Opportunity Zone investment strategies
Today is a great time to learn about tax protection investment strategies to defer capital gains in low-income communities using an Opportunity Zone. Based in Jacksonville, FL, ask Riverplace Capital owner Peter Bower and his team of Certified Financial Planners about the benefits of selecting individual securities and financial products through a tailored tax protection plan for yourself and your business and help build community at the same time.
Opportunity Zones were established by the 2017 Tax Cuts and Jobs Act (TCIA) to incentivize investment in low-income communities as defined by tax code Sections 45D(e). The new law provides specific details related to capital gains for investments in Opportunity Zones, including deferral and forgiveness of potential future gains that are generally based on the:
- Original investment date
- Amount of time the investment is held
Tax incentives were established to encourage investing in Opportunity Zones. Each of the Opportunity Zones was nominated by the Governors of all 50 states and each of the territories in the United States and Washington, D.C., by March 2018. There are several identified Opportunity Zones in the Jacksonville and North Florida region and beyond in Florida.
Why defer capital gains through a 1031 Exchange or an Opportunity Zone?
There are significant differences between deferring capital gains through a 1031 Exchange vs. an Opportunity Zone. There are also specific criteria required to invest in Opportunity Zones. Understanding these individual differences and criteria needed to receive the best capital gains and tax outcome is an area that Riverplace Capital financial experts have studied and can assist you with as you plan your investing strategy.
Riverplace Capital* certified professionals understand and structure required to purchase a Qualified Opportunity Zone Property and a Qualified Opportunity Zone Business. We can guide you on the nuances of these investments and connect you with critical resources for your decision-making process.
If you want to learn more about Opportunity Zones or think you may be interested in investing in a business in an Opportunity Zone, we can help.
*Riverplace Capital, owned and founded by Peter Bower, is not a CPA or Tax Law firm; for specific tax advice consult your CPA or Tax Attorney.