Entries tagged with: taxes

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by Fred Pessaro // BBG

Juicy J counts deductibles for his 1040 Form
Juicy J

I love what I do. But it might be time to think about career advancement if other jobs have perks like these:

Rapper Jim Jones is figuring out how to deal with Uncle Sam next month, and he's considering deducting expenses on his income tax for making it rain. Well guess what, in theory he might have a fighting chance of winning.

Jones is not alone. Bizzy Bone tells TMZ, "I'm giving charity to females who need their light bills paid. So, of course, that's a write-off. You write off your kids, don't you?"

The Game tells TMZ ... making it rain "is good for business and promotion that comes with the lifestyle of a rapper. They bump our music in a strip club, so me giving the girls a little bit of change to shake their ass -- that comes with the business. Everybody wins." -[TMZ]

No word on if Molly, Kush and Hennessy are also deductible. I'm calling my accountant.

Coachella 2012 (more by Dana (distortion) Yavin)
Coachella

"Promoters of the Coachella and Stagecoach music festivals, two of America's premier music events, are threatening to move the shows -- possibly out of the Coachella Valley -- if a proposed admissions tax is enacted by the host city.

Goldenvoice president Paul Tollett said next year's festivals would be the last in Indio.

The threat comes in response to a string of text messages obtained by The Desert Sun in which Goldenvoice vice president Skip Paige tells an Indio official that organizers are seriously considering moving the festival out of the city.

Polo club owner Alex Haagen III said he and Goldenvoice would build a new venue somewhere else.

"If the tax initiative of putting $4million to $6 million onto Coachella gets on the ballot," said Tollett, "we're going to take off 2014; 2015 we'll be at a new facility outside of Indio." [Desert Sun]

Coachella 2013 is currently scheduled for April 12 - 14 and then April 19 - 21.

Lauren Hill at Highline Ballroom, June 2012 (more by Bao Nguyen)
Lauryn Hill

Acclaimed hip-hop artist Lauryn Hill took responsibility for failing to file three years of taxes on income of $1.8 million and pleaded guilty to tax evasion charges today in federal court.
The South Orange native could face up to three years in prison and $75,000 in fines for her offenses and will be sentenced in late November.

Hill's attorney Nathan Hockman said the star had been targeted by the federal government because of her celebrity status.

"There are many people in society who fail to file their taxes on time who only face civil liability," Hockman said. "They chose Ms. Hill in particular because of who she was."

Hill spoke little at her hearing today and stood attentively with her arms crossed in front of her chest when the judge first addressed her. She appeared in a white button-down shirt, blue blazer and long coral skirt.
She did, however, take issue with two statements made by U.S. District Judge Michael Shipp that she discussed in whispers with Hockman at length.

Hill raised her concerns with Hockman when the judge asked her if anyone had forced her to enter a guilty plea either directly or indirectly, and again when the judge ordered her to undergo mental health counseling as directed by pre-trial intervention services.

Through her attorney, Hill asked the judge to clarify what he meant by the words "directly" and "directed."
"Ms. Hill is very particular about language," Hockman said. "Language is very important to Ms. Hill." [NJ.com]

Just when Lauryn was getting her career back on track! Of course Lauryn is nowhere near the first celebrity with tax problems. (Willie Nelson and Little Wayne to name a few.) Good luck Lauryn!

by BBG

Nas at Rock The Bells (more by Dana (distortion) Yavin)
Nas

Cue sad trombone...

The next time you buy a Nas album, you're really just handing your money over to the government -- because the rapper's delinquent tax filings have caused Uncle Sam to begin garnishing his wages... Nas is in tax debt up to his eyeballs ... if his eyeballs were $6,000,000 tall.

So the government has finally tired of waiting for Nas to pay up, so they filed documents in the state of Georgia to have his wages garnished -- via the music publishing organizations BMI and ASCAP -- until the debt is paid off. -[TMZ]

In related news, I was happy to see that those NJ-based promoters being held captive in Africa due to a Nas no-show in Angola, were let go back to the US (after being held for close to 50 days).

Nas did show up for SXSW this year though, and spoke to a VEVO interviewer in the process. Watch that talk below...

Continue reading "Nas's wages garnished by the IRS"

Hot Chip on the Daily News (thx Brian)
I Tax

Gov. Paterson's proposed $121 billion budget hits New Yorkers in their iPods - and nickels-and-dimes them in lots of other places, too.

Trying to close a $15.4 billion budget gap, Paterson called for 88 new fees and a host of other taxes, including an "iPod tax" that taxes the sale of downloaded music and other "digitally delivered entertainment services."

"We're going to have to take some extreme measures," Paterson said Tuesday after unveiling the slash-and-burn budget.
[Daily News]