http://www.gozonegateway.com Your gateway to investing in the GO Zone Wed, 16 Jul 2008 16:37:33 +0000 http://backend.userland.com/rss092 en The following article was written by our GO Zone tax advisor. In my opinion, the requirement for the GO Zone property to be own by someone who is active in a trade or business creates an overall potential for investor benefit but contains two traps for the unwary. Let’s go back to ... http://www.gozonegateway.com/articles/what-does-active-really-mean-two-tax-traps-for/ The folllowing article was written by our GO Zone tax advisor. My answer to this question…No! In December of 2007, there were positions offered in tax literature that stated an IRC 1031-exchange form a GO Zone property to a non-GO Zone property would be allowed. In my opinion, this position was (at best) ... http://www.gozonegateway.com/articles/1031-exchange-from-a-go-zone-property-to-non-go-zone-without-recapture-bonus-depreciation/ The following article was written by our GO Zone tax advisor. The appropriate use of IRC 1031-type exchanges is a legitimate tax concern as it can materially effect the economics of (1) Developing a portfolio of real estate investments via the deferral of gain and (2) Exiting from real estate investments ... http://www.gozonegateway.com/articles/1031-exchange-go-zone-property-without-recapture/ The material benefits of the GO Zone for real estate investing are: 1. Additional first-year bonus depreciation of 50% (fifty percent). 2. Increase in expensing of machinery, equipment and (in some cases) software bought for use in a business from $105,000 to $205,000 and raised the phase-out level from $420,000 to $1,020,000 3. Extension of ... http://www.gozonegateway.com/articles/go-zone-real-estate-investing-benefits/ Finally! The first round of the Mississippi Small Rental Assistance Program (SRAP) apps were due in last November, and after 7 months of back and forth from all the government entities involved, the first checks have started to get disbursed. Approximately $6.5 million has been approved and closings ... http://www.gozonegateway.com/mda/mda-small-rental-assistance-program-pushes-through-first-round/ The following properties do not generally qualify for GO Zone tax treatment: 1. Private or commercial golf course 2. Country Club 3. Massage Parlor 4. Hot tub facility 5. Suntan facility 6. Property where the principal sale is alcoholic beverages for consumption off premises 7. Property used directly for gambling 8. Property used for animal racing ... http://www.gozonegateway.com/articles/what-properties-do-not-qualify-for-go-zone-tax-treatment/ The following post was written by our GO Zone tax advisor. Tax benefits are granted from governmental taxing authorities so as to direct private enterprise activity towards a desired direction. In the case of real estate investing in the GO Zone, taxing authorities wanted to stimulate investment activity predominately through ... http://www.gozonegateway.com/articles/what-tax-benefits-are-granted-to-a-go-zone/ The GO Zone Act established geographical areas, called Gulf Opportunity Zones (GO Zone), corresponding roughly with the devastation of Hurricane Katrina, Rita and Wilma. The purpose of the legislation, as it relates to real estate, were to establish tax relief measures so these geographical areas could rebuild their infrastructure ... http://www.gozonegateway.com/articles/what-are-go-zones-and-where-are-they/ Many people want to know if the state of Mississippi must recognize the GO Zone Bonus Depreciation. The answer here, is no. There is no absolute necessity that the tax code of any state must correspond with the federal tax code. For instance, if you buy a property classified under ... http://www.gozonegateway.com/go-zone-news/must-mississippi-recognize-the-go-zone-depreciation/ After Katrina caused such destruction along the Gulf Coast, the US Congress passed the Gulf Opportunity Zone Act of 2005 also known as the GO Zone Investment act to support people interested in investing in the region. This Act gives investors the opportunity to write off up to 50% of ... http://www.gozonegateway.com/articles/go-zone-real-estate-investment-2/