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Your Next Step: Get a clear roadmap based on your OZ needs and goals

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 to convey it to your QOZB later on. Referencing our handy dandy Opportunity Zone Cheat Sheet, you have to start with a capital gain that

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 will take a capital gain and drop it down into your fund within 180 days. You have a six month asset test and you will

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 investor that’s going to be coming into your QOZF. Make sure the person who is making the investment into the QOF has personally experienced the