Benefits of Investing in Opportunity Zones, TCJA

The Opportunities Zones program enacted with the Tax Cuts and Job Act of 2017 offers three tax incentives for investing in certain low-income communities through a qualified Opportunity Fund: temporary deferral, step-up in basis, and permanent exclusion of capital gains. Under this provision, gain from the sale of any type of property that produces capital[ … ]

Dollar-for-Dollar Arizona Tax Credit for Corporations for Contributions to School Tuition Organizations

While the C corporation credit has been around for years, Arizona added a new dollar-for-dollar state tax credit opportunity for entities treated as S corporations in 2015. A dollar-for-dollar credit means that for every dollar paid, S corporation shareholders receive a dollar tax credit on their Arizona income tax return. Essentially, this means that a[ … ]