CINCINNATI, OH, October 12, 2019 — On October 29, 10XTS will be presenting the case study about their current funding round as a qualified opportunity zone business to a capacity crowd at the Atrium 2 building. The company has partnered with Opp Zone GP, a new, self-directed opportunity zone fund-as-a-service to help investors leverage the tax benefits under the 2017 Tax Cuts & Jobs Act (TCJA).
By investing through the self-directed fund structure, 10XTS can provide investors with current gain liability the complete opportunity zone gain rollover. This allows an investor to reduce their gain liability by as much as 15% if the gain is invested in 10XTS by the end of 2019. By first purchasing limited partnership units in the Opp Zone fund, an investor can then self-direct the general partners to subscribe to 10XTS preferred shares. The company is presently raising $2.6 million in a private placement offering.
In addition to the existing gain reduction and extension in time to repay, should 10XTS experiences a liquidity event and the investors hold their LP units for 10 years, the long-term capital gains on the sale of the company or initial public offering are forgiven.
The event also features other notable regional experts in tax law and accounting to discuss other aspects of opportunity zone fund investing:
- Brian Redden, Attorney BHMK
- Justin Vanderglas, CPA, Clark Schaefer Hackett – “What Every Investor Needs to Know About OZFs”
- Robert W. Buechner, Chairman Emeritus & Co-founder of BHMK – “The Sizzle Behind Self-Directed OZF Investing”
- Michael Hiles, Founder/CEO, 10XTS – “CASE STUDY: Venture Capital Funding via Qualified Federal Opportunity Zones”
- Steve Robison, Attorney, Strategic Property Exchanges, LLC – “Secondary Markets & Future Liquidity: The Marriage of Like Kind Exchanges and OZFs.”
DISCLAIMER: The information in this release should not be construed as tax or legal advice. Consult your professionals.
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