Opportunity Zone & Vision Living

OPPORTUNITY ZONE INVESTMENTS, THE NEW INCENTIVE ADDED BY THE TAX CUTS & JOBS ACT, COULD BE THE MOST SIGNIFICANT TAX BREAK IN DECADES FOR TAXPAYERS.

The Opportunity Zone program provides federal tax incentives for investing capital gains in Qualified Opportunity Funds by offering the deferral, reduction, and potential exclusion on tax on future capital gains.

Qualified Opportunity Zones were created by the 2017 Tax Cuts and Jobs Act. These zones are designed to spur economic development and job creation in distressed communities throughout the country and U.S. possessions by providing tax benefits to investors who invest eligible capital into these communities. Taxpayers may defer tax on eligible capital gains by making an appropriate investment in a Qualified Opportunity Fund and meeting other requirements.

An opportunity zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as opportunity zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service.

Opportunity zones are designed to spur economic development by providing tax benefits to investors. First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15%. Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged.

VISION LIVING

Visions Companies is creating affordable communities, in a first-class living complex, available to the working-class families. Rent amounts are based on the median income of the area and are typically 40% less than market rents in the city. The amenities that we offer are generally seen in upscale apartment complexes. Such as gated communities with splash pools, walking trails, dog parks, computer labs and so much more. We will be giving these amenities to families, at an income level, that never would have been able to afford these housing opportunities.

In addition to an amazing place to live, the community centers, within the complex, will offer tutoring programs available for all age school children, Kindergarten thru High School, with ACT prep and college prep help for our High School kids. Once the school bus drops off the children in the afternoon, they can check-in to the center and begin immediately getting help with homework. Parents will be notified once the child checks in and can they monitor the child on their phones with the camera’s that are in the center. If a child completes all their homework prior to their parents returning home from work, there will be research rooms available, computer rooms and interactive learning centers available for continued educational opportunity.