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Opportunity Zones Extended and Expanded Under OBBB

Extended beyond 2026, OZ 2.0 opens the door to rural investment boosts, increased bonus depreciation, and a decade of fresh development opportunities.

By Blake Christian
HCVT LLP

Eight years after being introduced as part of the 2017 Tax Cut & Jobs Act, the federal Opportunity Zone (OZ) program has already made a measurable impact on underserved areas of all 50 states. With the recent passage of President Trump’s One Big Beautiful Bill (OBBB), the OZ program has been officially extended beyond its original sunset date of Dec. 31, 2026. It is now poised to shift that impact into high gear.

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If you’re not highly familiar with the OZ program, here is a brief primer:

The OZ Program has always been bipartisan (conceived by President Obama and first enacted by President Trump). It is further unique in that it presents a rare opportunity to align wealth-building strategies with low-income economic impact. This allows investors to diversify (profitably) into real estate and operating businesses while participating in the revitalization of communities that need it most.
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CLIENT SERVICE OPPORTUNITIES

Business-Owner Tax Incentives You Might Be Overlooking

Help entrepreneurial clients use government programs to lower tax bills while creating jobs and wealth.

By Blake Christian

As many CPAs know, a wide variety of federal and state tax credits and other incentives are readily available but often overlooked by businesses and their tax advisors.

MORE: Entity Choice in Light of Estate and Gift Tax Rules | 11 Tax Client Questions for Year-Round Billings
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While the vast majority of tax planning efforts are focused on the timing of taxable income and tax-deductible items (temporary or timing differences), there are literally hundreds of federal tax incentives (permanent differences) that encourage taxpayers to invest in certain equipment, hire certain types of employees, operate in certain regions or invest in certain industries. READ MORE →

MARKETING & SALES

Marketing Approaches: Shotgun Vs. Rifle

Man aiming rifle in forestPlus specific strategies for each.

By Blake Christian

Marketing continues to be an underdeveloped function at most firms.

MORE: 10 Times Clients Should Contact You | Entity Choice in Light of Estate and Gift Tax Rules | 11 Tax Client Questions for Year-Round Billings
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When developing a marketing plan, firms should consider which approach is best for them. In general, firms tend to choose from two potential strategies: a “shotgun” approach, targeting a broad base of potential clients, or a “rifle” approach, in which they focus more narrowly on certain selected targets.
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CLIENT SERVICE OPPORTUNITIES

10 Times Clients Should Contact You

Businesswoman speaking on phone in officeThere may be boons or pitfalls clients are overlooking.

By Blake Christian

It is important for clients to understand when they need to contact you prior to making significant business or personal decisions or commitments.

MORE: Entity Choice in Light of Estate and Gift Tax Rules | 11 Tax Client Questions for Year-Round Billings
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For example, our experience has proven that unwinding a business deal is more costly as deals progress than being involved before clients start negotiations. Here’s a short list of issues clients clients should know about:
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CLIENT SERVICE OPPORTUNITIES

Entity Choice in Light of Estate and Gift Tax Rules

Man and woman in meetingWhat advisors need to know about the structures under which their clients do business.

By Blake Christian

As many advisors have learned, the 2013 increase in personal federal income tax rates – up to 39.6 percent, plus a potential 3.8 percent federal tax on net investment income (NII) – combined with a drop in the maximum estate and gift tax rate to 40 percent (only on net assets of $5.34 million per spouse), significantly changed estate tax planning for most taxpayers. It’s especially important for your successful business owner clients.

MORE: 11 Tax Client Questions for Year-Round Billings

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One of the most common questions I get from clients and friends is about which legal structure they should opt for to run their new or existing business. My standard answer is, “Well, it depends.”
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