INSIDE THIS EDITION:
Calls for Central Bank Stimulus Growing
Weekly Snapshot of Global Asset Class Performance
STA Money Hour – Qualified Opportunity Zones Interview
401k Plan Manager
After last week saw a sharp selloff due to the seemingly unavoidable spread of Coronavirus, the calls for the Fed to step in with a monetary intervention grew throughout the weekend. Jarome Powell commented that it was on the table and both the Bank of Japan and Bank of England said much of the same. The Bank of Japan has already promised to provide loans that support bank lending to any businesses affected by the Coronavirus. It appears that the World’s Central Bank’s are at the ready to act with rate cuts next.
STA Money Hour – Qualified Opportunity Zones; An Interview with, Rolando Garcia
Scott Bishop, Executive Vice President of Financial Planning for STA Wealth Management hosts a special edition of STA Money Hour with guest Rolando Garcia, JD/CPA. Rolando is a Tax Attorney with Doeren Mayhew that provides Private Client Tax Services. Rolando brings more than 20 years of experience in this area.
During this edition of STA Money Hour, Scott and Rolando discuss many issues related Qualified Opportunity Zones (“QOZ”) that were part of the 2017 Tax Cuts and Jobs Act (“TCJA”), Congress enacted legislation designed to help underserved communities by incentivizing investors with tax benefits encouraging them to deploy capital in QOZs. The goal was to attract capital to these QOZs to create jobs and re-develop areas in these distressed areas these QOZs were selected by congress in communities with low-income and/or that are economically distressed. These QOZs are introducing both tax breaks and investment opportunities that are available. However, this area of the law is very complex and you need to fully understand the possible risks of making investments in this area while being able to review any potential deals to better ensure that they follow the rules (tax code) or your tax benefits may be lost. For more detailed information to aid in your research, Scott and Rolando co-wrote an article (click link) on Using Qualified Opportunity Zones both as a Tax Strategy and Investment.
Link to prior interview with photo:
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