# Grace Capital Management

> Independent wealth advisory firm in Austin, Texas providing personalized portfolio management, financial planning, and tax-advantaged alternative investment strategies for accredited investors. Earl Proeger is a Registered Representative of Concorde Investment Services, LLC (Series 7, Series 63, SIE).

Grace Capital Management works with accredited investors and business owners who face significant capital gains or income-tax events. The firm focuses on education-first planning across tax-advantaged strategy categories and coordinates with each client's CPA and attorney. Serving Austin, Dallas, Houston, San Antonio, and clients nationwide.

Important: Content on this site is educational and not an offer, solicitation, or recommendation to buy any security. Alternative investments are speculative, illiquid, and involve risk including possible loss of principal. They are available only to verified accredited investors. Distributions and outcomes are not guaranteed.

## Core Pages
- [Home](https://grace-cap.com/): Firm overview, approach, and how Grace Capital helps accredited investors manage tax and capital-gains events.
- [About](https://grace-cap.com/about/): Background, credentials, and advisory philosophy of Earl Proeger, Registered Representative of Concorde Investment Services, LLC.
- [Wealth Management](https://grace-cap.com/wealth-management/): Personalized portfolio management and financial-planning approach.
- [Investments](https://grace-cap.com/investments/): Overview of tax-advantaged strategy categories — 1031 exchanges and Delaware Statutory Trusts, Opportunity Zone strategies, intangible drilling cost programs, tax-loss harvesting, and development/Roth-conversion structures.
- [Resources](https://grace-cap.com/resources/): Educational articles and guides on tax strategy for accredited investors.
- [The Grace Capital Journal](https://grace-cap.com/blog/): Plain-English perspective on tax strategy, real estate, and disciplined wealth planning.
- [Glossary](https://grace-cap.com/glossary/): Definitions of the tax and alternative-investment terms used throughout the site.
- [Comparisons](https://grace-cap.com/comparisons/): Head-to-head explainers comparing deferral structures and fractional real estate vehicles.
- [Tax Strategies](https://grace-cap.com/tax-strategies/): Strategy categories for managing tax on large capital-gains and income events.
- [1031 Exchanges](https://grace-cap.com/1031-exchanges/): Like-kind exchange rules, deadlines, and replacement-property structures.
- [Contact](https://grace-cap.com/contact/): Phone, email, office location, and consultation request.

## The Journal
- [Opportunity Zone 2.0 Opens January 1. Your 180 Days May Already Be Running.](https://grace-cap.com/blog/opportunity-zone-2-0/): The rewritten Opportunity Zone program takes effect January 1, 2027, and the new terms apply to amounts invested in a qualified opportunity fund after December 31, 2026. A qualified opportunity fund takes only the gain rather than the whole sale proceeds, which is the structural difference from a 1031 exchange. Each investment carries its own five-year clock in place of the single hard-coded December 31, 2026 date; basis steps up 10% at five years, or 30% for a qualified rural opportunity fund holding at least 90% of assets in rural zone property; a ten-year hold permits an election to fair market value, now capped at thirty years. Because an investor has 180 days from a sale to place the gain, a gain realized in the second half of 2026 has a window that reaches the new rules. Published 2026-08-28.
- [The 1031 Exchange Misnomers](https://grace-cap.com/blog/1031-exchange-misnomers/): Widely held beliefs about like-kind exchanges that do not appear in the statute.

## Key Definitions and Comparisons
- [Opportunity Zone (QOZ)](https://grace-cap.com/glossary/opportunity-zone/): Designated community under IRC §1400Z-2, made a permanent part of the tax code by the One Big Beautiful Bill Act.
- [Qualified Opportunity Fund](https://grace-cap.com/glossary/qualified-opportunity-fund/): The vehicle through which eligible capital gains are invested into an Opportunity Zone.
- [1031 Exchange vs. Opportunity Zone Fund](https://grace-cap.com/comparisons/1031-vs-opportunity-zone/): Side-by-side comparison of the two deferral routes, including the proceeds-versus-gain distinction and the 2026-to-2027 timing question.

## Educational Resources
- [1031 Exchange Timeline](https://grace-cap.com/resources/1031-exchange-timeline/): Key deadlines and identification rules in a like-kind exchange.
- [Capital Gains Tax in Texas](https://grace-cap.com/resources/capital-gains-tax-texas/): How federal capital-gains rules affect Texas investors.
- [Tax Strategies for Accredited Investors](https://grace-cap.com/resources/tax-strategies-accredited-investors/): Overview of strategy categories for reducing tax on large gains.

## Interactive Tools
- [1031 Exchange Calculator](https://grace-cap.com/tools/1031-calculator/): Estimate deferred gain and reinvestment requirements.
- [Capital Gains Calculator](https://grace-cap.com/tools/capital-gains-calculator/): Estimate federal capital-gains liability on a sale.
- [Opportunity Zone Calculator](https://grace-cap.com/tools/oz-calculator/): Model an Opportunity Zone reinvestment scenario.
- [IDC Estimator](https://grace-cap.com/tools/idc-estimator/): Estimate potential first-year deductions from intangible drilling cost programs.
- [Depreciation Recapture Calculator](https://grace-cap.com/tools/depreciation-recapture-calculator/): Estimate Section 1250 unrecaptured-gain tax on the sale of a rental property.
- [Accredited Investor Quiz](https://grace-cap.com/tools/accredited-investor-quiz/): Check whether you may meet accredited-investor criteria.

## Contact
- Phone: (512) 485-1800
- Email: info@grace-cap.com
- Office: 11651 Jollyville Rd., Suite 300, Austin, Texas 78759