There are a number of provisions in the new Coronavirus Stimulus package that affect the methods for depreciation of real estate assets for tax purposes — and these changes are likely to be significant for our industry.
The Cherrytree Group has recently created two Qualified Opportunity Zone Funds. The funds employ a unique strategy to generate higher returns by layering the benefits from investing in an Opportunity Zone with the benefits from utilizing tax credits.
Unless you happen to earn your living in the financial planning field, you maybe be only slightly aware of the monumental nature of the changes to the IRS’s
, passed by Congress in 2017.
BOSTON--(BUSINESS WIRE)--Preservation of a registered historic landmark in Lowell, Massachusetts has begun following completion of pre-development funding for the Lowell Legacy Hotel. The funding was arranged by the Cherrytree Group of Newton, Massachusetts.
After purchasing our own historic building at 287 Auburn Street, Newton, Massachusetts in late September of 2017, we were anxious to begin rehabilitation of the building and move into our new home.
In December, 2017, the Tax Cuts and Jobs Act of 2017, established Opportunity Zones by way of a provision of the Internal Revenue Code i.e Section 140OZ-2 (the "OZ Rules"). Pursuant to the OZ Rules, Treasury directed the individual states to designate certain census tracts as Opportunity Zones.
These are exciting times in the tax credit world! In addition to tax cuts, the 2017 Tax Reform brought about other significant changes, including “Opportunity Zones”, which are a new concept that can potentially link tax credit projects and capital gain deferrals in a single deal.