Have you heard of opportunity zones? The Tax Cuts and Jobs Act of 2017 created an incentive for investors with capital gains to give back to a community in need. Click to see the map.
For example, if someone has stock investment gains and wants to sell, we call this capital gains. If they invest their stock “winnings,” if you will, into a qualified opportunity fund to invest in a neighborhood located within the qualified opportunity zone, they can get a tax break on their gains.
Watch the video to learn more about deferring and reducing the taxes on these types of investments and how they differ from 1031 like-kind exchanges.
If taken advantage of properly, in partnership with the government, an investor can direct funds into real estate or businesses in opportunity zones to create jobs, opportunities, and housing. The more success the investment has, the more the investor benefits. If you have any questions about opportunity zones and how to invest wisely, contact us by calling (781) 319-1900.
Remember the moratorium of evictions from back in April? Gov. Baker extended this law until October 17th, or 45 days after the state of emergency is lifted, and it could be extended more. Tenants still cannot be evicted for failure to pay rent. We encourage you to communicate fairly with them, remind them to pay what they can so their debts don’t damage their credit, and try to be understanding.
If you have any questions about being a landlord in MA, contact us by calling (781) 319-1900.
The enterprise of cybercrime is booming these days, and anyone can become a victim. Cyber criminals use the technique of phishing to obtain personal data through fraud. Always take the time to verify with a title company or closing law firm regarding your private information, and make sure to follow up… especially if something seems phishy.
If you have any questions about wire fraud, contact us by calling (781) 319-1900.
PSA for our valuable first responders! We want to help protect you as you have done for us. Introducing: Homesteads for Heroes. Check out our website Stilesh4h.com so we can help you figure out if you have a homestead declaration. If you don’t, we’ll draft one for you. Then you can visit us at our outdoor office and get it notarized. Consider it a big thank you from all of us at Stiles Law.