Did you know that there are two Opportunity Zones right here in the Chippewa Valley? If you have significant capital gains you are recognizing this year, consider investing in an Opportunity Zone to defer the recognition of those capital gains and (if you hold the investment 10 years) receive tax free capital appreciation during the 10 years you own the investment and a 15% reduction in the deferred capital gains owed. In my years practicing law, I have never seen a tax planning opportunity that is this good! To qualify for the 10 year holding period you must invest by December 31, 2019 to be eligible.
Check out this excellent piece written by fellow member of the Taxation Law Section of the State Bar of Wisconsin, Attorney Peter J. White on how these Opportunity Zones work: https://www.wisbar.org/NewsPublications/Pages/General-Article.aspx?ArticleID=27106
You can view the entire Opportunity Zone map here:https://www.wheda.com/Opportunity-Zones/
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