Friedman LLP Launches Qualified Opportunity Consulting Zone Practice, mapping future investments for the greatest tax advantages
New York — DATE— Top 50 accounting and advisory firm, Friedman LLP, expands its dynamic service offerings to include Qualified Opportunity Zone (“QOZ”) Consulting . The QOZ program, created under the 2017 Tax Cuts and Jobs Act (“TCJA”), is a tax incentivized investment initiative meant to spur economic growth in low-income communities while providing investors with additional capital to expand existing businesses, form new businesses, or fund real estate developments.
At the helm of this new practice group is Partner Steven Bokiess, CPA. He brings more than 20 years of experience advising prominent real estate organizations involved in a wide range of properties, as well as extensive expertise in the financial arena. He has tax consulting and compliance services to a variety of real estate and asset management clients, including REITs, real estate partnerships, private equity funds, hedge funds, investment advisors, broker/dealers and mutual funds.
“In response to growing questions surrounding this new, complex and long-term investment strategy, we strategically assembled leading tax experts to create the QOZ Consulting Practice. I am confident that this new team will guide our clients through the TCJA, address the unique challenges they face and help them leverage key tax incentives to maximize investments,” said Steve.
“With QOZs currently spanning 12% of the land area of the nation, there is a tremendous opportunity for individual, trust or corporate investors to reap significant tax advantages,” remarked Robert Charron, CPA, Partner and the firm’s Tax Practice Leader. “The expansion of our service offerings to include this new practice group further demonstrates our commitment to staying on the pulse of industry and policy changes to deliver excellent client services.”
“Friedman has stayed at the forefront of tax reform since before President Trump’s election. The QOZ Consulting Practice includes advisors with direct access to breaking news from Capitol Hill, sought-after thought leaders and members of the firm’s elite TCJA Task Force,” added Co-Managing Partner and Leader of the Real Estate Practice Group, Fred Berk. “This team of experts is well-equipped to help guide our clients through the nuances of this new tax opportunity.”
To learn more about our latest practice group, head here.
About Friedman LLP
Friedman LLP, headquartered in Manhattan with locations throughout New Jersey and in Long Island, Pennsylvania, and Beijing, has been serving the accounting, tax and business consulting needs of public and private companies since 1924. Our industry-focused practice features concentrated areas of expertise and an understanding of the economic environment. We are innovative in our approach, act quickly in our decision-making and are flexible in our delivery of services. Our clients benefit from hands-on contact with our partners, cutting-edge technical expertise and our understanding of their industry and their business. Our clients have the advantage of working with a mid-size accounting firm that combines the staff and resources of a large firm with a philosophy of personal responsibility for our clients. Visit www.friedmanllp.com to learn more.