Our recent white paper, titled “Welcome to the Land of OZ – Tax Benefits of Investing in a Qualified Opportunity Zone Fund,” explored new opportunities resulting from the 2017 tax reform bill to cash out unrealized gains and put them to work within certain low-income areas (called Opportunity Zones) while deferring taxes until December 31, 2026. This follow up white paper provides an overview of techniques for measuring the fair value of these real estate assets under U.S. GAAP.
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The Treasury recently released a second set of proposed regulations to the designated qualified opportunity zones, which expand upon and attempt to clarify the October 2018 proposed regulations as well as the original legislation. In this alert, we highlight the key takeaways from the new proposed regulations
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We’ve heard a lot of buzz for years now about the “carried interest loophole” that hedge fund managers take advantage of. Critics of this loophole have suggested that it allows such managers to earn big profits from securities trading without paying taxes. While there is some truth in the notion that carried interest represents a tax deferral for managers of certain types of investment funds, this is not the case for many managers of true “hedge” funds
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