Charleston CFO Council Meeting on March 20th and the Upstate CFO Council Meeting on March 21st
FinTrust Capital Advisors recently presented at the Charleston and Upstate CFO Council meetings. Allen Gillespie, CFA®, Chip Hardy, and Todd Mitchell, CPA presented research and explanations on investing in Opportunity Zones and the federal tax benefits. They shared the podium with our friends at the South Carolina Research Authority (SCRA) who provided information on their state tax credits.
There are 135 low-income census tracts in South Carolina that are designated as Opportunity Zones. This designation allows for the creation of Qualified Opportunity Funds which permit the investor to defer, reduce, and potentially exclude capital gains tax. As mentioned to the CFOs in the audience, benefits to investing in these Opportunity Zones include: economic impact, community impact, and personal contribution.
IMPORTANT DISCLOSURES:
The information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. This material does not constitute an offer to sell, solicitation of an offer to buy, recommendation to buy or representation as the suitability or appropriateness of any security, financial product or instrument, unless explicitly stated as such in the text. FinTrust Capital Advisors, LLC and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Securities offered through FinTrust Brokerage Services, LLC (Member FINRA & SIPC) and Investment Advisory services offered through FinTrust Capital Advisors, LLC.
