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CAIA Seattle & CFA Seattle Event: Opportunity Zones-Tax Incentives for Development
Date(s):
October 4, 2018
Note: All times listed are in local time
Venue:The Rainier Club
820 4th Ave
Seattle, WA 98104
Fee(s):Free Event
Description:CAIA Seattle & CFA Seattle Event: Opportunity Zones - Tax Incentives for Development The tax reform bill passed at the end of last year includes a new program called “Opportunity Zones” or “OZ” that offers potentially significant tax incentives for investors to help to attract funding for businesses in low income
areas. These businesses can be commercial real estate, affordable housing, retail, manufacturing, food, warehousing and distribution, start-ups and incubators, energy projects, services and other activities. Individuals and businesses can delay paying federal income tax until 2026 - and enjoy up to a 15% increase in their basis - on capital gains invested in “Opportunity Funds” that invest at least 90% of their assets in businesses or tangible property located in low income areas designated as Opportunity Zones. In addition, gains on investments in the Funds can be federal income tax-free if the investment is held for at least 10 years. The tax benefits could reduce the cost of capital for these projects making them more viable.
Please join CAIA Seattle and CFA Seattle for a presentation on Thursday, October 4th on the Opportunity Zone program and how the program can benefit investors and investment professionals. Attendees will learn the most up-to-date information on unlocking investment potential with the OZ program including: - What is the "Qualified Opportunity Zone" program and how does it work?
- What are the three types of tax incentives for investors?
- What types of developments and businesses qualify for Opportunity Zone benefits?
- Who should consider participating in the OZ program and what actions should be taken now to prepare?
Please note: at this time this event is open to CAIA Members only and is complimentary when registering through CAIA with the link above. Time and Date: Thursday, October 4th, 2018 1:00PM to 2:30PM Location: The Rainier Club 820 4th Ave.
Seattle, WA 98104 Speaker: Mary Burke Baker Government Affairs Counselor, K&L Gates, Washington, DC
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Mary Burke Baker
Speaker Type: Keynote
Mary Burke Baker is a government affairs counselor in the Washington, D.C. office. Mary focuses on federal tax matters affecting businesses, including domestic and multinational corporations, all types of pass-through entities, and individuals. Her practice covers tax policy, tax reform, regulatory and other guidance, tax administration, and technical tax issues, with particular emphasis on corporate and pass-through issues, accounting methods, information reporting, Reports of Foreign Bank and Financial Accounts (FBAR) compliance, and emerging cryptocurrency issues. Since enactment of the Tax Cuts and Jobs Act (TCJA) in December, 2017, Mary has particularly focused on the Opportunity Zone program and is a frequent speaker on the topic throughout the United States.
Mary advocates on behalf of clients and consults with and advises Congressional, U.S. Treasury, and Internal Revenue Service (IRS) staff on numerous domestic and international tax and tax policy issues, including the new Opportunity Zone program, implementation of business and individual provisions in the TCJA, and emerging cryptocurrency tax compliance concerns. She stays abreast of current tax policy developments on Capitol Hill and around the world and keeps clients informed with timely, relevant, and informative updates, including political insights and analysis regarding the significance of these developments. She helps clients identify and assess risks and opportunities in the ever-changing legislative and regulatory environment and develops and executes strategies to achieve desired legislative and administrative outcomes. She offers technical analysis and drafts comment letters in response to regulatory projects, working groups, and other tax policy initiatives. During the recent tax reform debate, Mary lead the Cash to Accrual Coalition and the Like-kind Exchange Coalition. She also serves on the steering committee of the LIFO Coalition. She assists individual taxpayers who are participating in the IRS Offshore Voluntary Compliance Program to comply with FBAR and Foreign Account Tax Compliance Act (FATCA) filing requirements.
Mary serves on the Board of Directors of the Real Tax Policy Group, which features biweekly sessions with top Administration and Congressional tax officials. She also serves on the Board of Directors of Time of Grace, an international media ministry.
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