1 hr. CPE/CPD in Tax
An Introduction to Opportunity Zones
Presented by Dave McGuire
Opportunity Zones are a valuable tax incentive that were included in the TCJA. Since the law came out the interest in Opportunity Zones steadily increased. At the same time confusion over what they do, and how they work has grown as well. In this session we discuss the fundamentals of the Opportunity Zones and how they work.
Objectives to be discussed include:
• The basics as to how an Opportunity Zone investment works
• Basic definitions
• Timing of Tax Benefits
• An understanding as to what was included in the Proposed Regulations
• Pitfalls to avoid
David McGuire is a leading national expert on cost segregation, fixed assets and depreciation law and co-founder of Indianapolis-based McGuire Sponsel. McGuire co-founded the firm in 2007 with a focus on maximizing personal property and optimizing depreciation deductions.
He has since grown the firm into a leading national consultancy with a diversified offering of specialty tax services, including Cost Segregation, Derivatives and Debt Advisory, IC-DISC, Location Advisory Services and Research & Development.
While serving in consulting and management roles within Big Four accounting firms, McGuire acquired a thorough understanding of the Internal Revenue Code’s depreciation provisions. He now analyzes real estate portfolios ranging from six-figure acquisitions to ten-figure mega deals, providing cost segregation services for CPA firms and companies in a wide variety of industries.
McGuire believes strongly in furthering the profession and shares his depreciation expertise through several annual speaking engagements and workshops, assisting a variety of industry professionals, accounting firms and professional associations, including the American Bar Association.
McGuire’s expertise in depreciation extends beyond engineering, and he often consults on bonus depreciation projects and the effects of depreciation on complex transactions, such as Step Up in Basis, Section 108 and Passive Loss Limitations.
McGuire is also a recognized expert in areas such as 179D and Alternative Energy Tax Credit Consulting, leading the growth of McGuire Sponsel’s Energy Efficiency consulting services.
McGuire earned a degree in civil engineering from the University of Notre Dame with a concentration in structural design.