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MISSION CRITICAL – Must Not Do’s: Top 10 pain points in Qualified Opportunity Zone Funds & Projects

We’ve had more than 1,000 Strategy Calls at OZPros with folks from all around the country. We’ve seen some really great work, and some not so great work. The key…

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Should I buy the property in my own name if I’m going to convey it to my QOZB later on?

The number one thing not to do with your Qualified Opportunity Zone (QOZB) transaction is: do not under any circumstances buy the property in your own name with the plan…

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Are you an Operating Qualified Opportunity Zone Business, ensuring you are keeping track of the five asset tests?

If you are an Operating Qualified Opportunity Zone Business, you need to keep track of the five asset tests. Referencing our handy dandy Opportunity Zone Cheat Sheet, you have to…

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Are you an existing business or a startup business?

Number three on our list of the Top Ten Things Not To Do is: are you an existing business or a startup business? We’re going back to our handy dandy…

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Do you have a Working Capital Safe Harbor Business Plan in writing when cash hits your QOZB in order to make your QOZB exempt from the non-qualified financial property test?

Number four on our list is a working capital safe harbor business plan. When creating your Opportunity Zone Fund and Business, referencing our handy dandy opportunity zone cheat sheet, you…

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Does your Qualified Opportunity Zone Fund meet the 6 Month asset test?

Number five on your Top Ten things not to do with your Qualified Opportunity Zone Fund and/or Business is not preparing for your six month asset test. We are referencing…

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Do you meet the original use test to be a Qualified Opportunity Zone Business Property?

Number six on our list is original use. Once again, we’re referencing our handy dandy Opportunity Zone Cheat Sheet. You’ll recall you have to start with a capital gain that…

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Did you contribute either cash or other property into your Qualified Opportunity Zone Fund within 180 days?

Number seven on our list of things not to do in your Qualified Opportunity Zone transaction, do not forget to either contribute cash or some kind of property into your…

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Is the individual taxpayer and/or investor you want to have listed inside of the Qualified Opportunity Zone Fund has experienced a capital gain?

The eighth thing not to do with your Qualified Opportunity Zone Fund, is to not qualify the investor and/or correct taxpayer. You will want to determine who is the ultimate…

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Did you ensure your capital gain gets placed into a Qualified Opportunity Zone Fund within 180 days from the date of sale?

Making sure you get your capital gain into a Qualified Opportunity Zone Fund within 180 days from the date of your sale is the ninth thing not to do with…

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