Connect with us

Community DMV

WHAT BLACK INVESTORS NEED TO KNOW ABOUT OPPORTUNITY ZONES

Avatar

Published

on

Spread the love
Black investors have historically invested in land to build wealth. Real estate is generally seen as a solid investment because property values typically rise over time. Property can be passed from one generation to another; used to diversify an investment portfolio; and is considered less risky than the stock market. Now, there is a new option for blacks to become investors and receive tax breaks with a new real estate asset class: Opportunity Zones.

Opportunity Zones are low-income areas the U.S. Treasury classifies as “qualified opportunity zones.” Investors can make these asset investments through Qualified Opportunity Funds.

The investments are geared to accelerate economic development in almost 9,000 designated areas in America and Puerto Rico, says tax attorney Steve Moskowitz, a founding member of the San Francisco-based tax law firm Moskowitz L.L.P.

Opportunity Zones were added as part of the 2017 Tax Cuts and Jobs Act. They allow investors to defer tax on any capital gains until 2026 and avoid a capital gains tax on the sale of an Opportunity Zone. Those funds are then invested in property and businesses located or operated within the designated QO Zones.

WHAT EXACTLY ARE OPPORTUNITY ZONES?

According to the Economic Innovation Group, the 2017 tax provision provides “a tax incentive for investors to re-invest their unrealized capital gains into dedicated Opportunity Funds.” African American Sen. Tim Scott (R-S.C.) played an integral part in including the zones in the tax law.

The ante is high as there is a massive amount of capital gains that could be invested in Opportunity Zones. Based on estimates that U.S. households and corporations possess over $6 trillion in unrealized capital gains, some officials contend that the program has great potential to trigger an influential change in distressed communities.

Even if a portion of that amount of money was committed, it could possibly mean billions of dollars for poor areas across the country. That is because the program is specifically designed to increase economic opportunity by incentivizing new development in low-income urban and rural areas, says Leslie Anderson, president and CEO of the New Jersey Redevelopment Authority (NJRA).

Read more @ Black Enterprise

Leave your vote

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Entertainment

Black Is King Does Everything It Needs To

Avatar

Published

on

By

Photo: Parkwood Entertainment
Spread the love

 

 

Beyoncé’s nearly 20-year journey in film is as much a testimony to her tenacity as her formidable catalogue in music. Her work in the two fields grows a little more challenging at each turn. While she blossomed as a songwriter during her stint as leader of Destiny’s Child and came out of it as the premier contemporary R&B artist of the 2000s, she took quirky film roles starring alongside comedy icons Steve Martin and Mike Myers in The Pink Panther and Austin Powers: Goldmember. In the mid-aughts, Cadillac RecordsThe Fighting Temptations, and Dreamgirls posited Bey as a multi-hyphenate actor-slash-performer in the style of Whitney Houston, but, lacking a blockbuster like 1992’s Oscar- and Grammy-winning The Bodyguard (critically reviled though that movie might have been in its time), Beyoncé’s early films seemed like obligatory star-making gestures, less like parallels to the movies of multimedia double threats like Madonna and Dolly Parton and more like peers to the works of Jennifer Lopez and Justin Timberlake, musicians whose early film endeavors were hit or miss, relaying an eagerness to branch out of music sometimes lacking in good taste. For every memorable turn in Selena or The Social Network, there was Gigli or The Love Guru or Jersey Girl or Yogi Bear. Beyoncé’s role in the 2009 stalker drama Obsessed, in which she kills Ali Larter’s character in a fight sequence frankly funnier than any of her official comedic performances, did not help matters.

In the past decade, experiments Beyoncé did with the music-video format — alongside Kanye West, whose My Beautiful Dark Twisted Fantasy album was heralded by the fantastical short film Runaway — have shifted the standard for pop-star video excursions, looking to monocultural audio- visual events like the Beatles’ Hard Day’s Night, Prince’s Purple Rain, and Michael Jackson’s Moonwalker for tips in spinning storytelling and performance into a unified narrative thread. Her surprise 2013 self-titled visual album laid important groundwork that she would build upon in 2016’s HBO film Lemonade, which recounts the story of an apparent near miss with divorce but works on secondary levels as a celebration of Black womanhood and a dive into the knotty history and iconography of the South. (Props to Life Is But a Dream, a chronicle of her album and tour and her difficult first pregnancy, and Homecoming, which details the making and execution of Bey’s 2018 headlining Coachella performance, but those are documentaries and more of a testament to Beyoncé the archivist rather than the ambitious storyteller we’re lauding today.) This year’s Black Is King, a full-length film that uses last year’s The Lion King: The Gift as its soundtrack and source text, is the culmination of everything Beyoncé has learned in film since breaking out in Carmen: A Hip Hopera.

Read more at Vulture

Continue Reading

Marketing

Apps for Instagram Stories Video Editing

Avatar

Published

on

By

Spread the love

Continue Reading

Entertainment

‘Black Is King’: Beyoncé’s visual album is a feast of fashion and symbolism

Avatar

Published

on

By

Spread the love
There are many quotable lines and lyrics in “Black Is King,” Beyoncé’s new visual album, which dropped today on Disney+. But two in particular seem especially apt to describe the stylistic feast the artist has created. The first comes three minutes in: “Let Black be synonymous with joy.”
The second arrives half an hour later, on the song “Mood 4 Eva,” featuring Jay-Z, Childish Gambino and Malian singer Oumou Sangaré. Clad in a full-length leopard gown with a higher-than-high slit, Beyoncé laughs at the camera as she sings, “I’m a whole mood.”
The almost 90-minute-long film is evidence of both affirmations.
Conceived as a celebration of “the breadth and beauty of Black ancestry,” as Beyoncé wrote on an Instagram post announcing its release, “Black Is King” is a companion to 2019’s “The Lion King: The Gift,” the album she made to accompany Disney’s CGI remake of the 1994 animated movie. (Beyoncé voiced adult Nala in the film.) It follows a young man’s journey to self-discovery, with a focus on Black history and African traditions, told through the artist’s own narration.
Read full article and watch video @ CNN.com

Continue Reading

Trending

Hey there!

Forgot password?

Don't have an account? Register

Forgot your password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Close
of

    Processing files…