HAUPPAUGE, N.Y., Dec. 13, 2018 /PRNewswire/ -- The Gemini
Companies (Gemini) today makes available a recording from a recent
webinar, "How to Take Advantage of Opportunity Zones." Sam Dale, head of news at HFMWeek, moderated the
online event, which featured panelists: John Gahan, Partner – Real Estate, Sullivan and Worcester; Catherine
Lyons, Manager of Policy and Coalitions, Economic Innovation
Group; Daniel Ryan, Partner – Tax,
Sullivan and Worcester; Ken
Weissenberg, Head of National Real Estate Practice, Eisner;
and Skyler Steinke, Senior Vice
President – Business Development, Gemini.
The conversation included an explanation of opportunity zones
and recent IRS announcements about tax advantages associated with
investing in these areas, an overview of qualified opportunity
funds (QOFs), the tax implications of these types of funds, and
ways fund managers are entering the opportunity zone space.
The discussion highlighted key benefits for investors and
managers/developers, including:
- INVESTORS:
-
- Deferred tax liability
- Exclusion of income from taxation
- Social growth
- MANAGERS/DEVELOPERS:
-
- Unique opportunity for social change and investment
- High investor interest
- Social growth
"Being able to take full advantage of this program requires
investors, developers, and managers to be able to navigate a
complex, evolving landscape," said Mr. Steinke. "Having experts to
help legally structure their business and provide guidance on the
tax/audit/operations of their investments will be crucial to
maximize their returns."
Mr. Gahan added, "After months of uncertainty and the natural
hesitancy that engenders, 2019 is shaping up to be a banner year
for opportunity fund investments. Fund formation and
deployment in 2019 is fueled by a combination of an expectation
that the Treasury will release another tranche of guidance before
year end, the desire to avoid an end of year test measurement date,
and the fact that gain taxpayers can wait to play."
Listen to the recording HERE
About Gemini
Since 1983, Gemini has been providing our
partners an ever-expanding suite of services for their investment
products, such as modern investor servicing tools, portfolio
administration and accounting, comprehensive compliance programs,
and guidance on regulations, auditing, and distribution. Gemini's
consultative approach and culture of service helps managers and
investors navigate and flourish in today's increasingly
sophisticated and dynamic investment landscape.
Gemini provides a single, integrated solution that supports the
launching and servicing of mutual funds, hedge funds, ETFs, private
equity funds, variable annuity trusts, and state-sponsored 529
plans. We also offer customized structures designed to support the
unique needs of pensions, endowments, and foundations.
Gemini is a subsidiary of NorthStar Financial Services Group,
LLC, which has over 1,000 employees and over $802B in assets under management and
administration as of November 30,
2018. For more information, please visit
www.thegeminicompanies.com.
7884 GFS 12/12/2018
CONTACT: Jami Schlicher
| P: 973) 850-7309 | E:
jschlicher@jconnelly.com
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SOURCE Gemini