Author: News Room

Nearly a month has passed since President Trump last spoke publicly of his desire to kill the carried interest loophole. (Yes, we know, some of you don’t consider it a “loophole.”) And yet the private equity industry, which stands to lose big if the president upends the tax break, is still bracing for a fight.This is the biggest challenge to the provision since it was nearly neutered three years ago under former President Joe Biden, Grady McGregor writes for DealBook.A reminder: the carried interest rule means that executives at hedge funds and P.E. and venture capital firms pay roughly 20…

This winter, Denver has faced record-breaking Arctic blasts — below-zero temperatures, heavy snowfalls and brutal wind chills. But at Barolo Grill, a longtime Italian fixture in the affluent Cherry Creek neighborhood, the mood is warm. The restaurant has just logged its most lucrative January and February since it opened in 1992.“It is actually a bit bewildering,” said the owner, Ryan Fletter. “I am thrilled and surprised.”The first two months of the year are typically the slowest period for restaurants, and many take a January hiatus. This winter has posed even more challenges: frigid weather across the country, egg prices at…

Send questions about the office, money, careers and work-life balance to [email protected]. Include your name and location, or a request to remain anonymous. Letters may be edited.An Office RomanceI have been dating a man who works at the same company as I do since 2021. Our relationship has since developed, and it has been almost three years now. We love and trust each other, and since we are both in our mid-thirties (an age considered appropriate for marriage in Korea, where we live), we have decided to get married next year.For the past three years, I have kept the fact…

At the end of February, the House of Representatives passed a budget calling for up to $4.5 trillion in tax cuts over 10 years.Now, the haggling begins.Many of the tax cuts from the 2017 tax bill, which passed during President Trump’s first term, are set to expire at the end of this year. He wants them renewed, and Congress has shown little appetite for crossing him.Extending those provisions would eat up most of that $4.5 trillion, and on the campaign trail, Mr. Trump floated many additional ideas for tax cuts that would cost a lot of money. Few are likely…

In an era of heightened global tax transparency, disclosing offshore income accurately is no longer optional but a critical legal obligation. HM Revenue & Customs (HMRC) has significantly expanded its efforts to identify undisclosed foreign income, leveraging international agreements like the Common Reporting Standard (CRS) to access offshore financial data. For individuals and businesses with overseas assets or income, the Worldwide Disclosure Facility (WDF) offers a structured pathway to resolve historical discrepancies while mitigating penalties. This guide, informed by expertise from offshore tax specialists at Tax Accountant UK, demystifies the WDF process and underscores the importance of proactive compliance. What is the Worldwide Disclosure…

ZK the Goat, a rising star in the world of social media, has recently made headlines with his decision to relocate to Dubai. Known for its luxury, innovation, and business-friendly environment, Dubai offers the perfect backdrop for ZK’s next chapter. With 1.3 million followers on TikTok, 858,000 subscribers on YouTube, and 485,000 followers on Instagram, ZK is not just an influencer but a global brand. His move to Dubai is a strategic one, aimed at expanding his reach and capitalizing on the city’s dynamic social media and business landscape. Dubai, often referred to as the “City of Gold,” is a…

Thanks to the continued advancements of communication and travel, the world is becoming smaller. Many are able to work from almost anywhere, and trips to distant places are no longer limited to the vacation seasons like winter and summer. Unfortunately, despite this supposedly highly convenient era of digital solutions, frequent travelers continue to face a myriad of financial challenges. Issues like high transaction fees, unfavorable currency exchange rates, and the inability to use debit or credit cards in foreign countries are common problems. Luckily, there are now the likes of Black Banx, a digital banking powerhouse that has emerged…

Last month, Black Banx announced a remarkable financial performance for the first quarter of year, achieving record-breaking profits and setting a new benchmark for the company. Under the leadership of German billionaire Michael Gastauer, Black Banx reported a profit before tax of $639 million. This impressive figure reflects a series of innovative strategies that have revitalized the company’s revenue streams including fixed fees. The first quarter results were significantly bolstered by higher revenues, which reached $1.6 billion. A key driver of this increase was the implementation of fixed monthly account maintenance fees for the company’s 45 million customers. This…

In the evolving landscape of global finance, the conversation around financial inclusion has become more prevalent. Innovative technologies and business models are increasingly being leveraged to extend financial services to the underbanked and unbanked populations of the world. One such innovation is Black Banx, a digital financial platform that aims to revolutionize access to banking services for individuals and businesses across the globe. Here’s what you need to know about Black Banx and its role in financial inclusion. Understanding Black Banx Black Banx, formerly known as WB21, was founded by Michael Gastauer in 2015. Gastauer’s vision was to create…

Is post-Brexit UK shaping mergers and acquisitions, or are new challenges arising? The regulatory world is getting complex for businesses. Scott Dylan a co-founder of Inc & Co is a go-to expert on company mergers. He talks about how political changes, especially after Brexit, affect M&A decisions. Now, the UK asks for up to 1,830 reports a year in key areas. This makes it tough for firms, as there’s more work and big fines if rules are not followed. The interest in buying companies from abroad remains strong in the UK, despite Brexit. In 2018, cross-border deals were 30% of…