Monday, 30 March 2015
Last updated 2 days ago
Sep 18 2012 | 11:04am ET
New York City has quietly dropped plans that could have increased taxes on hedge fund managers based in the Big Apple.
The city's Department of Finance late last year decided it would no longer allow hedge fund and private equity fund managers to claim an exemption from its unincorporated business tax, a 4% levy on expenses such as staff compensation. But now, Tax Analysts reports, the city, the world's largest hedge fund center, has changed its mind and will not change the way it audits hedge funds.
"Expense attribution remains an ongoing area we review, but we are not pursuing an audit program specific to the hedge fund industry at this time," Owen Stone, press secretary for the department, told Tax Analysts.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…