Opportunity Zones

Opportunity Zones: Tax Cuts and Jobs Act of 2018

Since inception, Gary Hobbs, the CEO of BWI, LLC, has been instrumental in developing the strategy behind Opportunity Zones. This initiative is part of the Tax Cut and Job Act of 2018. As chair of the Real Estate Economic Inclusion subcommittee (led by Senator Tim Scott), Gary is one of the country’s leading authorities on this matter.  As a result, BWI is uniquely positioned to provide valuable investment services to investors, and plays a critical part in connecting them to promising community projects.

Tax Benefits of Opportunity Zones

Opportunity Zones provide 3 primary tax benefits to investors who invest in a designated Opportunity Zone through the use of an Opportunity Fund. 

• Tax on income for capital gains is temporarily deffered fo capital gains reinvested in an Opportunity Fund.
• Capital Gains reinvested in an Opportunity Fund recieve a stepped-up basis, which will effectively exclude up to 15 percent of the original gain from being taxed. 
• Capital Gains from the sale or exchange of an investment in an Opportunity Fund are not taxed, so long as the investment is held for at least 10 years.

Opportunty Zones Resources

• http://eig.org/opportunityzones
• IRS - Opportunity Zones FAQs
• Treasury, IRS Announce First Round Of Opportunity Zones Designations
• U.S. Department Of The Treasury - Opportunity Zones Resources
• Opportunity Zones In Indiana (IN.Gov)