Insights

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    Opportunity Zone Resource Center

    December 30th, 2019

    The Tax Cuts and Jobs Act of 2017 created a tax incentive program to stimulate investment in distressed communities that have been designated as Qualified Opportunity Zones (OZs). These tax friendly investments are made through Qualified Opportunity Funds, which are partnerships and corporations organized for the purpose of owning property within OZs. The rules for […]

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    Opportunity Zones: Final Regulations Released

    December 30th, 2019

    The wait is over… much-anticipated final regulations on Opportunity Zones tax incentives were recently released by Treasury. The new rules are designed to better facilitate investments, projects, and businesses qualifying for OZ benefits. Get info on the new regs and FAQs HERE. Still have questions or need help determining how you can take advantage of […]

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    Bonus Depreciation Update – After Initial Legislative Blunder, Where Are We Now?

    December 18th, 2019

    From Tom Wagstaff, PP&Co Senior Partner: They broke it, and they can’t seem to fix it.  One of the major objectives of the 2017 Tax Cut and Jobs Act was to simplify the rules regarding the ability of taxpayers to use bonus depreciation to accelerate the expensing of their fixed asset purchases.   Due to an […]

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    Real Estate Partnerships Beware! Interest Deductions May Be Limited by Tax Shelter Status.

    December 9th, 2019

    Author: Rita Zhang, Sr. Tax Associate | Editor: Phuong Mayer, Director A provision in the Tax Cuts and Jobs Act of 2017 (TCJA) that limits business interest expense for certain taxpayers is creating headaches for real estate partnerships. Careful planning is required to make sure you are maximizing deductions. Prior to 2018, taxpayers could generally deduct […]

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    New Reporting Requirements for Opportunity Funds

    November 3rd, 2019

    This week taxpayers got a preview of what the new tax reporting requirements for 2019 could look like with respect to Qualified Opportunity Funds. On October 30th, the IRS released a Draft Form 8996, the tax form that Opportunity Funds use to self-certify compliance with Opportunity Zone rules. The initial version of Form 8996 was […]

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