OZ MAGAZINE 2022 Top 25 Influencers issue 2.2 | Page 70

70 OPPORTUNITY ZONE MAGAZINE | ISSUE 2 • VOLUME 2

JONATHAN MCGUIRE

ALDRICH CPAS & ADVISORS , LLP

Jonathan McGuire ’ s experience is in providing strategic tax planning and compliance expertise to private middle-market clients . He has a deep focus as a real estate accountant , working with investors , developers , and private equity groups in real estate . He works with a wide variety of property types ranging from multi-family residential to all other commercial properties . McGuire specializes in repair regulations , partnership taxation , and Qualified Opportunity Zones . He has helped organize many unique transactions for his clients facing complex facts and circumstances , especially in the Opportunity Zone space .

WHAT NEW TAX CHANGES IMPACTING THE OPPORTUNITY ZONE INDUSTRY CAN WE EXPECT IN 2022 ?
Pending passage , I would take a keen interest in the proposed Neighborhood Homes Tax Credit . Although focused on single-family structures , it may be the missing link to create affordable or workforce housing needs for individuals located around Opportunity Zones . This credit could be a catalyst to making the QOZ program pop ! Home ownership provides stability to our cities , which will help keep people invested in not only starting but continuing to operate QOZ Businesses .

STEVEN MEIER

SEYFARTH SHAW

Steve Meier chairs Seyfarth ' s corporate department , is co-chair of the firm ’ s national tax practice , and co-leads the Opportunity Zone Funds team . He is highly skilled in developing real estate and alternative investment programs of all types , including Qualified Opportunity Funds , REITs , cross border investment funds , and complex like-kind exchange programs ( such as Delaware statutory trust investment programs ). Clients appreciate his cutting-edge knowledge of the tax law and his ability to apply it in a grounded , commonsense manner to real estate and corporate transactions . Meier also serves as general tax counsel to numerous businesses and entrepreneurs , and advises them on domestic and cross-border M & A transactions , equity compensation , and dispositions to strategic and financial acquirers .

WHAT NEW TAX CHANGES IMPACTING THE OPPORTUNITY ZONE INDUSTRY CAN WE EXPECT IN 2022 ?
While there is hope that the gain deferral and the 10 % basis benefit deadlines will each be extended by 2 years ( to 2028 for gain deferral and to December 31 , 2023 for the 10 % basis benefit ), the more likely change will be the resolution of nagging nonconformity issues impacting California and other states .
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