After over three years into the program, it’s amazing how so few investors are even aware of Opportunity Zones and the significant tax incentives they provide. A very high percentage of people who should know about investing in OZ Funds don’t but that’s beginning to change. Listen to this podcast where Gerry Reihsen, the Founder and CEO of the Coasis Coalition, discusses some possible reasons why the adoption of Opportunity Zone investing has been “uninspired” to date. In addition, you’ll get his take on how the Opportunity Zones program got started, where the program is today, and what’s in store for Opportunity Zone investing in the future… and why any tax professional or financial advisor who isn’t informing their capital-gains clients of Opportunity Zone benefits are basically committing financial malpractice!
The Coasis Coalition provides a variety of services in the opportunity zone space and is focusing on changing lives in communities by bringing together local governments, NGO’s and NON-profits, universities, business builders, consultants, and people from Opportunity Zones and their surrounding areas. They are all about creating opportunities in underfunded communities by developing matrices that improve peoples’ ability to create their own success in their own unique ways.
As Mr. Reihsen mentions on the podcast, one of the greatest components of Opportunity Zones is that it gives investors a choice – a choice of where to invest, where to start (or relocate) a business, and where to live if so desired. Plus it lessens the chances of gentrification when sustainable businesses are located in these areas so everyone shares in the program’s success. After listening to this podcast, you’ll surely agree that every tax professional should know about Opportunity Zone benefits and should present the option of Opportunity Zone investing to their capital-gains clients! If not, well… they’re just not doing their jobs.
While the potential for the Opportunity Zones program is enormous, the details of the program and the nuances that will make it successful can be quite confusing, which is why it’s crucial to only work with the top people in the industry and the people who understand the significance of its future. Just because someone has “Expert” on their business card doesn’t make them an expert! The takeaway from all the information presented in this podcast is the following: if you’re facing significant capital gains exposure, there’s almost no downsize to set up an Opportunity Zone structure.
ABOUT OUR GUEST: Gerry Reihsen
Gerry Reihsen brings a unique depth to his law practice with many years of experience as an entrepreneur and a business consultant built on a robust international business law foundation. Gerry is a savvy executive with access to capital and innovative capital arrangements, having raised more than five billion dollars of equity in multiple capital channels. He has both composed and served on numerous public company boards of directors, including serving as audit committee chairman.
Gerry also advises enterprises on aggressive growth aspirations, providing strategic insight for enhancing their business models, creating innovative and expanded development strategies, and executing growth plans.
Gerry is a connector, able to identify teams of experts, professionals and executives who have the temperament and skills to make things happen. Gerry believes in connecting communities and providing systems that optimize human potential. He engages in numerous political, civic and charitable causes to effect these goals. He has been a founder and board member of several industry trade groups. He is a sought after speaker and panel participant for his business, board and legal insights.
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