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CPA

Blake Christian

Park City, Utah

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About Blake Christian

Blake Christian is a certified public accountant. He is currently at partner at HCVT LLP, based in Park City, Utah, and Long Beach, California.

HCVT was founded in 1991. It provides various services, including those related to tax, accounting, business management, and mergers and acquisitions.

Christian has more than 35 years of experience in tax consulting and compliance services. His clients have included multinational, large, closely held, owner-managed businesses and high net worth individuals. Christian leads HCVT’s consulting practice for Opportunity Zones.

Prior to joining HCVT more than 25 years ago, Christian was a partner at KPMG and a tax director for a health plan company. Christian is frequently quoted in the media for his insights on Opportunity Zones.

He has a master’s degree in taxation from the University of Southern California and a bachelor’s degree in accounting and finance from California State University, Long Beach. Christian is a member of the American Institute of Certified Public Accountants, the California Society of Certified Public Accountants and is president-elect of the Utah Association of Certified Public Accountants, Mountain Chapter, among other organizations.

He is certified to practice in California and Utah.

Company

HCVT CPAs

Address

136 Heber Avenue, Park City

TOTAL ANSWERS

121

Answers to Opportunity Zones

121 Questions Answered

What counts as a “substantial” improvement in an Opportunity Zone project?

8 Members Answered

What are the pros and cons of self-certification of a Qualified Opportunity Fund?

5 Members Answered

What counts as a “substantial” improvement in an Opportunity Zone project?

8 Members Answered

What do the new regulations say about how the substantial improvement test is determined?

1 Members Answered

Can non-capital gains funds be co-mingled with capital gains funds for an Opportunity Zone investment?

10 Members Answered

How can I best use the working capital safe harbor?

4 Members Answered

How can I best use the working capital safe harbor?

4 Members Answered

What is the best Opportunity Fund investment vehicle to choose? Why?

5 Members Answered

What happens if I invest in an Opportunity Zone in a state that has not opted to conform to the federal OZ rules?

4 Members Answered

Can non-capital gains funds be co-mingled with capital gains funds for an Opportunity Zone investment?

10 Members Answered

How can I make sure that the fund or developer will follow the 31-month rule?

4 Members Answered

What happens when a QOF sells an asset before 10 years but reinvests those proceeds in another QOZ?

3 Members Answered

How can Investors secure the benefit from a QOF by purchasing from an existing OZ investor?

3 Members Answered

How can I refinance proceeds from a Qualified Opportunity Fund and leverage distributions?

5 Members Answered

How do I prove that my building has been vacant for five years prior to being purchased by a QOF or QOZ business?

7 Members Answered

How flexible are the boundaries of the Opportunity Zones?

6 Members Answered

How does an entity become a Qualified Opportunity Fund (QOF)?

11 Members Answered

Can a QOF be structured to pay dividends to nonqualified investors without creating a taxable event for qualified investors?

11 Members Answered

Why are triple net leases not approved investments under the new OZ regulations?

4 Members Answered

What can local communities and local stakeholders do to incentivize investment in their Opportunity Zones?

3 Members Answered

As an investor, how can I find projects in Opportunity Zones?

4 Members Answered

How can pre-existing entities qualify in a Qualified Opportunity Fund?

5 Members Answered

If Cannabis is Illegal Under Federal Law, How Is It Legal to Invest In a cannabis business in an opportunity zone and still get the federal tax benefits?

4 Members Answered

How does the 100% bonus depreciation work in opportunity zone investments?

3 Members Answered

How can I defer bitcoin capital gains through a purchase of real estate in a Qualified Opportunity Zone?

5 Members Answered

I deferred gain based on an investment in a QOF, and now that QOF has dissolved before the end of my deferral period. What happens to my deferred gain?

6 Members Answered

How do I self-certify to set up my own OZ fund and what are the costs involved?

7 Members Answered

How could we invest into an EB-5 project that is also in an opportunity zone and enjoy benefits of both programs?

4 Members Answered

Does my money actually have to be invested for a full 10 years to get a step up in basis for the appreciation tax benefit?

5 Members Answered

What types of gain can be deferred through investment in a QOF?

11 Members Answered

Are there classes of Opportunity Zones?

11 Members Answered

How can a Qualified Opportunity Fund have multiple tiers of structures?

11 Members Answered

Are there any special regulations when investing in tech companies in OZs?

5 Members Answered

What is the basis for a ground-up development project in an OZ?

5 Members Answered

What is the definition of “original use” for both real and tangible property?

5 Members Answered

Is there a way to structure a QOF so that it can accept non-qualified OZ investment funds in tandem with qualified investments, then pay out the benefit to the non-qualified investors?

15 Members Answered

If my primary residence is located in an Opportunity Zone, is there any way that I can take advantage of the OZ program?

14 Members Answered

How can I document compliance with the “market-rate lease” requirement?

9 Members Answered

What happens if I invest in a QOF, but they don’t deploy my funds before the testing period?

16 Members Answered

What are the rules regarding what can be in a Qualified Opportunity Fund?

14 Members Answered

How can tribal governments benefit from Opportunity Zones?

4 Members Answered

How and when can I take advantage of owning a commercial property in an Opportunity Zone?

14 Members Answered

What factors should be taken into consideration when selecting between 1031 Exchanges and the Opportunity Zone tax incentive?

10 Members Answered

Does Puerto Rico benefit from the Opportunity Zone program in the same way that other Qualified Opportunity Zone census tracts in the U.S. do?

9 Members Answered

How can cities best take advantage of the Opportunity Zone program?

8 Members Answered

What happens if an S corporation that owns a share of a QOF changes ownership? 

8 Members Answered

What happens to the tax benefits of an Opportunity Zone fund if its original owner dies?

9 Members Answered

Is there a deadline for when I need to deploy funds to benefit from the 10-year tax deferral?

7 Members Answered

Are there any benefits to delaying the date at which I establish a QOF? 

12 Members Answered

What does the “anti-abuse rule” mean in practice?

9 Members Answered

How does the second set of proposed regulations define original use when it comes to OZ property?

6 Members Answered

How will it impact me if I invest the same amount in an OZ-conforming state compared to a non-conforming state?

8 Members Answered

Are there any Opportunity Zones in the Virgin Islands or other U.S. territories?

10 Members Answered

If we set aside a reserve to pay the 2026 capital gains tax liability, is that taxable?

13 Members Answered

What is the best deal structure for a tribal OZ fund on Native American land?

5 Members Answered

How does a service business satisfy the 50% revenue test?

6 Members Answered

Can vacant land purchased in an Opportunity Zone in May of 2017 qualify?

2 Members Answered

If a vacant building located in an Opportunity Zone was purchased in November 2017 for future adaptive re-use development, can it still qualify under the existing purchasing LLC?

5 Members Answered

If a freelancer or solopreneur starts an online business, forms an LLC and locates it in a co-working space in an Opportunity Zone, how can this qualify as an Opportunity Zone business?

5 Members Answered

How do I self-certify to set up my own OZ fund and what are the costs involved?

7 Members Answered

Is there flexibility on the 31-month safe harbor rule?

11 Members Answered

Do residents of non-conforming states receive the OZ benefits if they invest in an Opportunity Zone project in a state that conforms with the federal OZ regulations?

9 Members Answered

Can you contribute a note payable instead of cash to an QOF?

8 Members Answered

When using appreciated property to fund the QOF, what basis rules come into play?

7 Members Answered

What happens if an operating business I’ve invested in gets bought out?

9 Members Answered

How can a Section 1231 gain be reinvested at the entity level rather than at the equity holder level?

7 Members Answered

How much of a rush should I be in to invest in an OZ?

17 Members Answered

What does it mean for investors that Hawaii approved legislation S.B. 1130 to conform its tax code to the Internal Revenue Code?

9 Members Answered

How can a leased property qualify as an OZ business?

6 Members Answered

How strict are the rules on a property having been vacant for the purposes of defining it as an "Original Use Property”?

10 Members Answered

How can my business meet the 50 percent active gross income test?

6 Members Answered

How likely is it that the OZ regulation will get extended instead of sunsetting on Dec. 31, 2047?

13 Members Answered

What is the difference between the applicable financial statement valuation method and the alternative valuation method when it comes to leased tangible property?

4 Members Answered

Are Qualified Opportunity Funds considered a security that is regulated by the SEC?

8 Members Answered

How can QOFs prove that they meet the 90 % Substantially All test?

10 Members Answered

How can I show reasonable cause to avoid the penalty for failing to have 90 % of my QOF’s assets in an OZ?

10 Members Answered

How can California residents enjoy the full tax advantages of Opportunity Zone investments?

10 Members Answered

How can I get an extension to the 31-month period for my working capital plan for my QOF?

10 Members Answered

How does IRS treat a group of sellers in a related party sale?

5 Members Answered

How can I document that I originally planned to make land improvements?

9 Members Answered

How are penalties calculated if a QOF fails to meet the 90% Substantially All test?

11 Members Answered

How do I prepare a written plan for capital in order to qualify for the Working Capital Safe Harbor?

12 Members Answered

What do the new regulations say about which lifetime gratuitous transfers do or do not constitute “inclusion events”?

8 Members Answered

What’s the best way to value a QOF’s leased property?

7 Members Answered

Can I combine a 1031 exchange with an Opportunity Zone investment?

7 Members Answered

Why can most QOF only accept deferred gain prior to Jan. 1, 2027?

12 Members Answered

Since the working capital safe harbor applies to QOZ businesses, why can’t a fund also be a trade or business?

16 Members Answered

Is there any way for a current business located in a OZ to transfer assets in-kind (via taxable sale) to a QOF in exchange for an interest, while also getting deferral on the gain from that sale?

9 Members Answered

How worried should I be about the penalties for failing to maintain QOZ assets?

6 Members Answered

What happens if I don’t get my money invested in actual OZ projects by Dec. 31 this year?

13 Members Answered

How is blockchain changing CRE transactions in OZs?

2 Members Answered

How can a QOF investing in operating businesses know for sure that the business is a qualified OZ operation?

11 Members Answered

Can I use capital from a QOZ sale for other purposes?

7 Members Answered

Why are certain businesses excluded from taking advantage of the OZ program?

10 Members Answered

What happens if I don’t have enough distributable cash flow to pay my taxes in 2026?

11 Members Answered

What does it mean for investors that Hawaii approved legislation S.B. 1130 to conform its tax code to the Internal Revenue Code?

9 Members Answered

Is there a difference if the transfer of the QOF interest is to a trust or an individual?

6 Members Answered

What happens with the OZ benefits if an investor of a QOF die and the assets are passed down to the investor’s children?

12 Members Answered

How can I get my country club to qualify for the OZ incentive?

11 Members Answered

How strict is the “sin list” rule?

9 Members Answered

What is the requirement on the timing of OZ Investments?

6 Members Answered

What kinds of OZ investment transfers don’t qualify as inclusion events?

8 Members Answered

Can a QOF itself invest in another QOF?

14 Members Answered

How does the QOZ system work under Indian tribal law?

6 Members Answered

Why shouldn’t my QOZB make a loan to another with a term of more than 18 months?

6 Members Answered

If a QOF can be an entity that predates the effective date of the OZ regulations, how far back can it go?

9 Members Answered

What happens with my investments when the Opportunity Zone program expires on Dec. 31, 2047?

10 Members Answered

How detailed must the plan be to improve land in an OZ at the time of purchase?

7 Members Answered

Since QOFs can self-certify, how can investors check that they are complying with the regulations?

10 Members Answered

How can existing owners of property in OZs take advantage of the tax benefits without selling?

8 Members Answered

How do the second set of regulations establish anti-abuse rules when it comes to land use in an Opportunity Zone?

10 Members Answered

What happens if only parts of my real estate property is inside the OZ?

9 Members Answered

How can my business qualify as a QOZ business?

9 Members Answered

What data was used to identify eligible tracts for the OZ program?

12 Members Answered

How can tangible property owned by a QOF or a QOZB meet the original use or substantial improvement test?

3 Members Answered

What happens if a lease is between related parties in an OZ transaction?

10 Members Answered

What are the criteria for real estate and other tangible property to qualify as QOZBP?

6 Members Answered

If a QOF buys a building that is 95% completed by the seller, is that still considered to be construction in progress?

8 Members Answered

Is the growing education technology market suitable for the OZ industry?

7 Members Answered

What happens if a QOF or business has generated ordinary income from the sale of depreciated personal property at the time of exiting after 10 years?

5 Members Answered

What happens if an investor lives in a non-conforming state when investing in a QOF but moves to a conforming state a few years before the 10-year time limit to exit the fund?

4 Members Answered

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What does it mean to be a VERIFIED member on OpportunityZone.com?

OpportunityZone.com verifies certified public accountants (“CPA”) before placing them on this website. Not all professionals pass the verification process, and we are not paid by members in any way for verified badges. The entire verification process is performed by OpportunityZone.com staff members based in Irvine, California.

We perform a general background check on the member by using BeenVerified.com’s online background check tool. Refer to the disclaimer on BeenVerified.com for details since BeenVerified.com is not a comprehensive database and can miss certain records.

If we encounter any serious criminal violations on BeenVerified.com, this disqualifies the applicant from obtaining the verified badge from OpportunityZone.com. For CPAs that practice accountancy in the united states, a staff member on our team uses best efforts to check the CPA is in good standing with the board of accountancy of the state in which they practice accountancy.

The verified badge does not mean or represent that the CPA has experience or specializes in opportunity zones. Please consult the state board of accountancy or other government-based sites for more information on a particular CPA. Also, use your own diligence to vet any professionals on our website, we don’t make any representations of the qualifications of the professionals listed.

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