Family Office Networks and BDO to Launch Opportunity Zones Workshop Series

NEW YORK, October 16, 2018 /PRNewswire/ --

Family Office Networks and BDO USA, LLP will cohost a nationwide series of special luncheon and breakfast events to educate family offices on Opportunity Zones and the new tax laws.

The Opportunity Zones Workshops Series will be held in the following cities:

Philadelphia - November 13, 2018
Los Angeles - November 15, 2018
Dallas - December 11, 2018
Palm Beach - January 15, 2019
San Francisco - February 12, 2019
Chicago - March 5, 2019
Boston - April 9, 2019
San Diego - May 15, 2019

"Our first Opportunity Zones event in New York City was over-subscribed and hugely successful. Substantial families today have $4 trillion+ available to invest and they are increasingly seeking new ways to benefit from changes to the tax laws," said Tony Kuhn, Managing Director of Family Office Networks.

"We have determined that 28% of family offices are heavily interested in Opportunity Zones and 21% expect to customize their asset allocation model to take advantage of the new tax laws," said Family Office Networks co-CEO Steven Saltzstein.

"From a legal perspective, we are seeing a lot of interest from investors seeking to defer tax on realized or to-be-realized gains by rolling them into qualified O-Funds, and also from fund managers in building O-Fund structures that accommodate the capital infusion regime required for O-Funds, leave enough flexibility to accommodate what is expected from the O-Fund regulations when they come out, and yet reflect traditional real estate and private equity manager economics and fund terms," said Irwin M. Latner, Partner at Pepper Hamilton LLP. 

Tax reform legislation known as the Tax Cuts and Jobs Act created Federal Opportunity Zones ("O-Zones"), to promote investment in certain economically distressed communities.  Taxpayers obtain tax benefits by investing in Qualified Opportunity Funds ("O-Funds"), which in turn make investments in property (stock, partnership interest or tangible personal property) in the designated O-Zones.

According to BDO, the O-Zone provisions present a significant opportunity for investors to defer tax on capital gains invested in the O-Funds, to eliminate up to 15% of tax due on the capital gains invested in the O-Funds, and to potentially exempt tax on the post-acquisition gain. The benefits are for those capital gains that arose in the last 180 days or prospectively in 2018 and future years tax incentives.  O-Funds promise to offer an opportunity to revitalize low-income communities while providing tax savings for investors.

For information about Family Office Networks' Opportunity Zones Workshops series, please contact Callie Mellana, Director of Events, Family Office Networks at [email protected].

To inquire about speaking opportunities or sponsorship, contact Tony Kuhn, Managing Director of Family Office Networks, at [email protected].

About Family Office Networks 

Family Office Networks is the premier global community for families to share information and intelligence. The team works with a select group of top tier investment managers and sponsors who offer substantial families' access to stellar investment opportunities in areas such as real estate, venture capital, private equity, and hedge funds. In addition, Family Office Networks shares timely thought leadership on topics related to portfolio management, philanthropy, multi-generational wealth management, compliance and regulation, risk management, insurance, training and education. The website familyofficenetworks.com is the hub of Family Office Networks with 40,000 + users, including 7,000+ family offices, and is a go-to resource for news related to family offices.

About BDO USA 

BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, and advisory services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through more than 60 offices and over 550 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of more than 73,000 people working out of 1,500 offices across 162 countries.

BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information please visit: http://www.bdo.com.

Media Contact:
Charlotte Luer
+1-239-404-6785
[email protected]

SOURCE Family Office Networks

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED