Gulf Opportunity Zone

Filed Under »
Dictionary Says

Definition of 'Gulf Opportunity Zone'

A bundle of special federal income tax credits and deductions available to businesses opened in the Hurricane Katrina Disaster Area after August 27, 2005. The property must meet several further requirements to qualify for the deductions and credits. For example, massage parlors, liquor stores, golf courses, and a few other types of businesses are excluded.
Investopedia Says

Investopedia explains 'Gulf Opportunity Zone'

The deduction allows for 50% depreciation and an increased Section 179 expense deduction. It also provides a tax credit for hiring individuals from certain groups and a deduction for certain demolition, clean-up and environmental remediation costs. The purpose of this subsidy is to encourage economic growth in an area that business owners might otherwise find unattractive.

Articles Of Interest

  1.

    Tax Credit For Plan Expenses Incurred By Small Businesses

    Determine whether your business is eligible to claim a tax credit for establishing a retirement plan.

  2. Saver's Tax Credit: A Retirement Savings Incentive

    Here's another reason to put money toward your retirement nest egg.

  3. 5 Tax Credits You Shouldn't Miss

    If you're not taking advantage of these deductions, you could be missing out on tax savings.

  4. IRS Special Enrollment Examination (SEE) Study Guide

    The enrolled agent status is the highest credential awarded by the IRS.

  5. How To Deduct Your Job Search Expenses

    With approximately 12 million Americans out of a job right now, many people are spending significant dollars to be noticed by potential employers. Fortunately, some of these job-search costs ...

  6. 8 Little-Known Tax Deductions And Credits

    These little-known tax deductions can lead you to finding your own unique expenses that you didn't know you could claim.

  7. Common Tax Mistakes To Avoid

    Find out what mistakes people often make on their returns, and how to avoid them on yours.

  8. Should Married Taxpayers File Together?

    The earned income credit is one tax incentive married couples filing a joint tax return can take advantage of. Is it a good idea?

  9. Are You Really Eligible For The Earned Income Tax Credit?

    The amount of your earned income credit (EIC) is dependent upon how big your family is.

  10. Key Tax Breaks For Parents

    Parents should take notice of these important tax breaks in 2013.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  2. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  3. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  4. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  5. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.

  6. Chartalism

    A non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=42f75c9f2f4b95e8ad733a26e4e29a85