CategoryBusiness Owners

Considering Making A Qualified Opportunity Zone Investment?

By:  Amanda Wilson

 

Qualified Opportunity Zones are a hot topic in the tax and business world, and are an opportunity that span into almost any business market.  I get questions about them daily.  If you are considering making an investment in property in a qualified opportunity zone, or are simply wondering what an opportunity zone is, I recently presented on this topic.  A copy of the presentation materials can be found here.

KKR Changing Tax Status to Corporation

By:  Amanda Wilson

As I recently discussed on this blog, the recent tax reform has brought new tax rates and deductions, which reopen the question whether your choice of entity is still right under these new rules.  (Prior article discussing this can be found here).  We are starting to see large businesses making this change, as reflected in yesterday’s announcement that the large, publicly traded partnership KKR & Co. will be converting to a corporation effective July 1, 2018.

NFL Gives Up Tax-Exempt Status

By:  Amanda Wilson

Earlier this year, I posted about the possibility that the NFL may lose its tax exempt status.  The NFL has decided instead to give up its tax-exempt status.   It has been estimated that the tax-exempt status only saved the NFL about $10 million a year.  Although this is a significant number to me, it is relatively minor for the NFL.

Surrendering tax-exempt status helps the NFL avoid the bad press associated with a billion dollar industry being a tax-exempt organization (although almost all of that revenue was distributed to the teams which do pay taxes).  It also allows the NFL to protect the salary of its top executives.  As an exempt organization, the NFL was previously required to disclose the salary of the NFL commissioner ($35 million for 2013 season).

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