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UK ups tax on PE ‘carried interest’ to 32%

Private Equity Wire

The UK is to raise taxes on performance fees, or “carried interest,” for private equity fund managers from 28% to 32%, effective April 2025 — a smaller increase than many in the industry had anticipated, according to a report by Reuters.

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Taking Over Finances for Your Elderly Parents? This Checklist Can Help.

The Motley Fool

Gather financial accounts and legal documents First, you want to gather all your parents' financial accounts and relevant legal documents (if your parents are anything like mine, this is much easier said than done). Income like dividends could also generate a tax bill. Here are four steps to guide you.

Finance 246
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Is Your Small Business Ready for This New Federal Reporting Requirement in 2024?

The Motley Fool

Image source: Getty Images Small business owners have to deal with a few different types of legal compliance and document filing requirements throughout the year. But along with forming an LLC, filing annual reports for a corporation, or filing business tax returns, now there's a new one called "BOI."

Legal 246
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Why More People Are Choosing to Donate Their Cars

The Motley Fool

Image source: Getty Images If you itemize deductions on your tax return, you can claim a deduction for any charitable giving you've done throughout the year. Tax deductions The obvious reason to donate your car is to get a tax deduction. This doesn't just include money -- if you donate property, you can take a deduction as well.

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Is a Living Trust Really the Best Way to Pass an Inheritance to Your Family?

The Motley Fool

You should also know that when wills go through probate, they become a matter of public record, the same way your nosy neighbors could technically get a hold of your mortgage documents and see how much you borrowed for your home. And if you're thinking that a living trust could serve as a tax shelter of sorts for your family, think again.

Legal 246
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Need Customer Service Help With Taxes? Here's What the IRS Says to Do

The Motley Fool

Image source: Getty Images Recently, the IRS warned that phone delays should be anticipated during the run-up to the tax-filing deadline for submitting 2023 tax returns. In response to the fact so many taxpayers call for help with their taxes at this time of year, the agency suggested an alternative if you need customer support.

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Made a Mistake on Your 2023 Taxes? Here's What to Do Now

The Motley Fool

Image source: Getty Images You've finally sent off your tax return to the IRS and -- too late -- realize that you did something wrong. If the mistake caused you to underreport your income and the government catches wind of it, it could charge you additional taxes plus a penalty. Whatever the cause, you've now got a problem.

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