The Opportunity Zone , continued from page 13
Boon for Residential Neighborhoods?
Residential specialists may fi nd an
opportunity zone designation to be
a potent business development tool.
That’s because homes in an opportunity
zone, even diffi cult-to-sell homes, may
become more marketable, drawing
buyers who otherwise might not have
paid attention. “Opportunity funds are
scouring for properties, so if you’re list-
ing a property in an opportunity zone,
it presents an attractive benefi t,” said
Veronica Malolos, with NAI Realvest.
An Attractive Proposition
Still, by and large, the OZ program is
poised to transform communities across
America that have long been shunned by
investors. The generous tax incentives
that underpin the program make it
possible for investors to come out ahead
even if an investment yields a lower 5
return than one in a more economically
vibrant area.
Instant e-Gift Certificates Always Available
of Give the Gift
Hawaiian Bliss
Pono W
ellness S
pa
G
ift Card
d
r
a
C
Gift
Spa
Pono Wellness
| Sauna
Massage | Soak
Massage
| Soak
| Sauna
Entering the Zone
Anyone who generates profi ts from
the sale of capital assets like stock in
a company or real estate can partici-
pate in the program. You just need to
invest those profi ts—within 180 days
of realizing the gain—in a qualifi ed
opportunity fund, defi ned as an invest-
ment vehicle formed expressly to acquire
and improve property located in any of
the certifi ed zones around the country.
Unlike 1031 exchanges, funds
intended for investment in an opportuni-
ty zone don’t need to be kept separate by
an intermediary. Investors simply have to
file Form 8949 with their income taxes
to report the investment to the IRS. That
said, the rules for these investments are
complex and have not yet been finalized
by the government. It’s advisable to seek
professional guidance before proceeding.
You can find a directory of opportunity
funds at the National Council of State
Housing Agencies website at ncsha.org,
and you can learn more about opportu-
nity zones at irs.gov/newsroom/opportu-
nity-zones-frequently-asked-questions.
Proudly Employee Owned
The direct relationship between
work, ownership, and community
involvement fuels a strong
commitment to customer satisfaction.
Luxury Packages
This Year Give Luxury - Pono Experiences for Individuals or Couples
Massage, Soak and Sauna
The ultimate pampering experience. Enjoy a 20 minute soak,
60, 90 or 120 minute massage and an infrared sauna session.
Book online or purchase instant e-gift certificates
at www.PonoWellnessSpa.com | 408.612.8835
35 E First Street, Suite A | Morgan Hill, CA 95037
GILROY • MORGAN HILL • SAN MARTIN
june/july 2019
1351 Pacheco Pass Hwy
Gilroy, CA 95020
408-842-3358
recology.com
RecologySouthValley-ad.indd
gmhtoday.com
1
81
5/6/2019 11:14:42 AM