Investments in certain economically distressed communities, officially designated as Opportunity Zones, may offer multiple tax benefits that could be significant. The benefits include tax on long-term capital gains from other ventures being deferred, the deferred tax bill can be reduced, and any profits from the Opportunity Zone property might avoid tax altogether

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I probably attend approximately 30 investment industry conferences each year. That’s right, I eat roughly 60 rubbery chicken or salmon lunches, have an estimated 120 glasses of overly oak-y chardonnay, and listen to more than 200 panel discussions and fireside chats annually. Sure, I get to do these things in some pretty fabulous locations, from Malibu to South Beach to Manhattan, but I mostly see them all through the double-paned glass of hotel rooms and the pallor-enhancing lights of conference ballrooms

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In May 2018, the AICPA’s Private Equity and Venture Capital Task Force released a working draft of an accounting and valuation guide: Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies (the “Guide”). The final publication is expected to be released in 2019 and is likely to become the “gold standard” that will be applied by investment fund valuation committees and their auditors in evaluating the fair values of portfolio companies. This article is part of a multi-part series exploring the key topics of the Guide and related implementation matters

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