As all investors know, timing is everything and the opportunity zones industry is no exception. Those interested in enjoying the tax benefits of investing in a Qualified Opportunity Zone Fund (QOF) have to meet strict deadlines and timing issues, but many of these investors continue to be confused and need expert guidance in order to comply with QOF requirements, especially since many of these timeframes have been revised due to the coronavirus pandemic. What are those revisions? What are the new timelines? What new information does every Opportunity Zone investor need to know? Listen to this podcast where Blake Christian, a Partner at HCVT, makes sense of it all including how these revised timing issues and deadlines also apply for 1031 exchangers as well.
Listen to “Coronavirus Revised Deadlines and Timing Issues for Opportunity Zones and 1031 Investments” on Spreaker.
You know youre living in unprecedented times when even the IRS and Treasury allow for timeline extensions! Before coronavirus if you missed any of these timeframes, you were done your 1031 exchange was toast or you lost the tax benefits of your Opportunity Zone Fund investment. Period! Times have certainly changed, but you still must understand the new parameters and extensions. And to truly understand them, you have to talk to industry experts like Mr. Christian who specialize in this specific area of investment. In other words, your local accountant probably wont know these points in detail.
Yes, the devil is in the details… and if you have any interest at all about investing in opportunity zones for the tax deferral strategies or for any reason at all, the information youll get by listening to this podcast can literally make or break you! And this applies to those real estate investors thinking about doing a 1031 exchange too, as many are thinking about investing in Opportunity Zone Funds as a result of a busted 1031.
Questions? Comments? Need more info? Mr. Christian can be reached directly at 562-305-8050 and more information can be found at his website at www.hcvt.com.
ABOUT OUR GUEST: Blake Christian
Blake brings over 35 years of experience providing tax consulting and compliance services to clients that include multinational, publicly traded corporations, as well as closely held owner-managed businesses. Throughout his entire career, Blake has specialized in federal, state and local tax incentive programs. Blake is leading the firms efforts in providing tax consulting services for Qualified Opportunity Zones. A thought leader, Blake has been recently interviewed by US News and World Reports and other national publications providing insights into this powerful, yet complex, tax incentive program and has authored several articles and HCVT Tax Alerts about Qualified Opportunity Zones (OZ) and Qualified Opportunity Funds. Blake has developed unique insights into OZ strategies for real estate developers and investors, as well as for operating business start-ups and expansions. In addition to tax incentive consulting, Blake provides partnership and individual tax planning and compliance services. His industry experience is broad and includes manufacturing and distribution, service companies, restaurant, shipping and transportation, energy and healthcare.
Blake joined HCVT to open the firms Long Beach office over 26 years ago and opened the firms Park City, Utah office in 2014. Blake has served, in leadership positions on numerous community boards including the Long Beach Community Foundation as Vice Chair, Cal State Long Beach Ukleja Center for Ethical Leadership Governing Council, and the Long Beach Rotary where he served as president. Blake is also an active member of the Long Beach Area Chamber of Commerce and served as chairperson and is a regular member of the Park City Rotary Club, The Egyptian Theater and the Park City Chamber of Commerce. Blake was named as one of the Top 10 California Accounting Professionals in 2015 and 2014. The Long Beach Chamber of Commerce awarded Blake the 2016 Community Spirit Award for his economic development work and leadership in the California Enterprise Zone program.
Blake is a frequent contributor to leading industry related publications. TaxConnections.com named Blake as one of the Top 50 Tax Bloggers in the US. Blake has been a contributing columnist for the AICPA CPA Insider, a past columnist for the AICPA Corporate Tax Insider Newsletter, and is a regular contributor to the Long Beach Business Journal as well as numerous other publications. He has lectured at a number of universities, including University of Southern California (MBT Program) and California State University Long Beach (Annual Tax Conference), BYU and University of Utah, as well as various business and tax forums throughout the country. Blake has also been a technical resource for many news organizations, including USA Today, Los Angeles Times, Press-Telegram, KTLA News, Park City TV, KNX NewsRadio, and KFI Radio KPCW.
Blake began his career at KPMG LLP and was admitted to its partnership. Blake holds a masters of taxation from the University of Southern California and a bachelors degree in accounting and a minor in finance from California State University, Long Beach. Active in both the Long Beach and Park City communities. Blake supports the fundraising efforts of LB and PC Rotary, the LB and PC Community Foundations, Plant LB, The Egyptian Theater/ Save Our Stage and the National Ability Center.
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