Bloomberg Quotes Victor Jaramillo on Using Opportunity Zone Funds to Reduce Taxes
Under President Trump’s tax law, investors can take proceeds that would be subject to capital gains taxes -- such as those from the sale of a business or stock -- and put them into Opportunity Zone funds to defer and potentially reduce those taxes. They can also avoid taxes on the funds’ gains completely.
“This is something for people like those who were one of the first few hundred employees at Google or Twitter, and don’t want a boatload of money all tied up in the company’s stock,” said Victor Jaramillo, [Member] at law firm Caplin & Drysdale.
To view the full article, please visit Bloomberg’s website. For additional coverage, please visit Accounting Today's website.
Excerpt taken from the article “Mnuchin’s $100 Billion Market Gets Boost With Rules on Tax Break” by Laura Davison and Noah Buhayar for Bloomberg.