One of the outcomes of the 2017 Tax Cuts and Jobs Act was the creation of Opportunity Zones. These are designated locations around the country where investment, through an Opportunity Fund, provides a potential tax shelter to its investors.
These zones prove to be of unique interest to REALTORS®, especially those who work with investors. Per the Tax Cuts and Jobs Act, capital gains invested in a fund can have their taxes deferred and ultimately reduced if held in the fund for long enough.
One of the more common reasons an individual would have a capital gain is through the sale of real property. Thus, for a REALTOR® working with a home seller or investor these Opportunity Funds can be an additional benefit to a client with capital gains.
Salem is holding an Open House to learn more about the Opportunity Zones located within the city. The meeting is set for Tuesday, September 24th from 6-8pm. For more meeting information click here.
