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Filling Out Tax Form

Our Services

Our firm specializes in helping clients with their tax planning and compliance needs for
their investments in Opportunity Zones.
 
Whether you are thinking about deferring capital gains into an Opportunity Zone, or if you've already started the journey, we can help you.

1 

Major Services for OZ Investors

  • We prepare entity income tax returns (Forms 1065, 1120, 1120-S) for QOF and QOZB entities

  • We prepare income tax returns (Form 1040) for individuals with OZ investments and properly report their capital gain deferrals

  • We prepare Form 8996 with the annual QOF tax return to calculate the semi-annual testing required by the OZ program

  • We help OZ investors maintain compliance with the complex OZ rules for QOFs and QOZBs

  • We monitor the basis limitations associated with an OZ investment that affect the availability of tax losses from their OZ structure

  • We advise clients how to optimize available tax depreciation from their OZ investments

  • We provide multi-year tax planning and strategy so clients can align OZ benefits with their broader financial goals

2

Additional Technical Expertise we provide to OZ Investors

  • We review investors' capital gains to determine the amount that is eligible for deferral through investment into a QOF; as an example, depreciation recapture from the sale of a Section 1245 asset is not eligible for investment in a QOF

  • We report clients' capital gains on state income tax returns for states that don't recognize the OZ tax benefits (California, Massachusetts, North Carolina, and a few more)

  • We help clients optimize the timing of their QOF setup and investment to fully avail the extended 180-day investment windows available to investors receiving capital gains reported to them on a Form K-1 

  • We help clients optimize the timing of their QOZB setup and investment to take advantage of the exclusion for recently contributed capital to a QOF in exchange for equity

  • We monitor the basis limitations associated with an OZ investment that affect the availability of tax losses from their OZ structure

  • We advise clients on how to maximize the available tax depreciation from their OZ investments and how to optimize the timing

  • We assist clients with preparation and adherence to their working capital safe harbor plans during the startup period of their QOZBs​

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