Have a large capital gain? Dr. Friday explains how investing through Qualified Opportunity Zones can eliminate tax and help struggling communities.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
This is one of those things you don’t hear a lot about—the qualified opportunity zone. It’s been made permanent and it’s been enhanced, which is for people that may have a large capital gain from the sale of a business or personal asset.
By investing into a qualified opportunity fund that will help develop struggling communities, a lot of those capital gains can physically disappear—and in like five, ten years you’re able to take the money out tax-free because you are basically using the money to help an underprivileged community.
So if you have a situation like that, you might want to talk to us at 615-367-0819.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.