On Friday, October 19, 2018, Treasury issued much anticipated proposed guidance on Opportunity Zones. The documents define the type of gains that are eligible for deferral, specifics on various timelines, and many other relevant issues. This first round of guidance will help clarify the process that investors need to follow to help potentially defer and reduce capital gains along with possibly excluding taxes on gain for Opportunity Zone investments. To learn more please visit the Opportunity Zone Resource Center on our website.
High-net-worth individuals donated $5.8 billion during the first six months of the COVID-19 pandemic — generous giving by most standards. This is according