So why OZ? Why focus so much time and energy in Opportunity Zones? Through my own journey that began 18 years ago, I’ve seen my seemingly divergent work experiences, passions and excitement line up perfectly with what I am doing today. These experiences are in line with finding my why, align perfectly with my how and the experiences I‘ve had that have led to the expertise in that how.
It was really going through this process that honed in the Soterian vison and Soterian process. And if it made this much impact on me, how could I not want to give this same result to my clients, friends and loved ones?
As part of Soterian’ s vision, it exists to help others “Find their Why, Find their How and Find their When” through life mastery, strategic planning, and tax redirection. As part of the tax redirection piece, it was natural that I dive into the most recent changes to the tax code, wherein I discovered a couple of lines of legislation that could be the most profound wealth transfer, wealth creation, and tax mitigation opportunity for generations.
Additionally, the Opportunity Zone legislation lines up with Soterian’s mandate to make an impact. The very definition of the word Soterian means “to do good with the resources at hand.” We believe in trying to help the less fortunate out of the abundance with which we have been blessed. Accordingly, the Tax Cuts and Jobs Act of 2017 lines up perfectly with Soterian’s goals. It presents an opportunity to take appreciated assets, which by very definition represent the abundance with which we have been blessed, and reinvest those assets into good projects in areas that have historically not had the opportunity to participate.
Because of our team’s experience in the IRC 1031 Exchange world, we have seen the impact of tax deferred returns. When we saw the opportunity to not only receive tax deferral, but also receive a step-up in basis, and then to be able to exit the new investment with no capital gains, we got really excited. As a result, we have applied significant resources into exploring, understanding and creatively utilizing the Tax Cuts and Jobs Act for the benefit of our clients, in order to maximize their impact over the next 150 years. We are looking forward to the ride.