BISNOW
By Dees Stribling

This New Year's Eve isn't the only deadline that matters for OZ investors, just the one that happens to be front and center right now. Another deadline — marking the last time investors could get a tax break on a 2018 capital gain — passed in June, but it spawned a separate Dec. 31 deadline: for QOFs set up early this year, they have less than two and a half months to invest those funds in an OZ project or business.

This year's deadline means that for investments made in a QOF before Jan. 1 and held for seven years, investors will not pay tax on 15% of their deferred capital gains. For investments made for two years after Jan. 1, they won't pay tax on 10% of their deferred capital gains — still a discount, but not quite as good a deal. Read more.