June 14, 2019
The San Francisco Chronicle quoted Tax Principal Michael D'Addio in an article about investing in tax-advantaged opportunity zone funds.
By Kathleen Pender
Featured: Michael D'Addio, Principal, Tax & Business Services
Excerpt:
The fund itself must meet complicated rules and deadlines for investing the money. "These rules are nuts, they're crazy," said Michael D'Addio, a principal with the accounting firm Marcum... If the fund buys empty land, "there is no requirement to improve it," D'Addio said. However, it must be used in a trade or business. It can't be held purely for investment, but it's unclear how much development is required.
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland.
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