THE REAL IMPACT OF OPPORTUNITY ZONES ON COMMUNITIES

Jill Homan joins Main Street Matters to discuss the benefits of opportunity zones, which were included in the Tax Cuts and Jobs Act of 2017. Opportunity zones are designated low-income and moderate-income communities that attract capital through tax incentives. Homan explains that investors can defer paying capital gains taxes until 2026 by investing in qualified opportunity funds. If the investment is held for 10 years, all appreciation on the investment is tax-free. Homan also addresses criticisms of opportunity zones, such as concerns about gentrification and the designation of certain zones. She suggests potential improvements for Opportunity Zones 2.0, including expanding eligibility for tax benefits and redesignating zones. Main Street Matters is part of the Salem Podcast Network. For more visit JobCreatorsNetwork.com