TOPH SHELDON CPA FOR THE SELF-EMPLOYED ® 9200 MONTGOMERY RD., STE. #5A CINCINNATI, OH 45242 513-342-4000 WWW.TOPHCPA.COM
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INSIDE 1
Updates of a Journey in Accounting and Life
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Don’t Let the Rain Dampen Your Spirits The Best Time of Year to Solve Your Tax Problems The Give and Take of Marrying an Entrepreneur Everything Popcorn
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Celebrities Who’ve Gotten in Trouble With Their Taxes
Telltale Tax Nightmares
Hot Water as Far as the Eye Can See Everybody is human, even if we forget that sometimes. And,
with committing numerous offenses that landed him in and out of jail. It came as no surprise then that in July of 2017, DMX was charged with 14 federal counts of tax fraud. He was charged with felony counts related to his failure to file income taxes from 2010 to 2015, during which time he made at least $2.3 million. The cumulation of these charges resulted in him being ordered to pay $2.29 million as restitution to the government in 2018 — oh, and spend a year in jail for good measure. Willie Nelson Country music superstar Willie Nelson couldn’t sing his way out of trouble when he was slapped with a whopping 16.7-million-dollar bill in 1990 for unpaid back taxes. Unfortunately, the icon, whose career has spanned over six decades, couldn’t fork over the cash and lost many of his possessions in the ensuing squabble with the IRS. However, many assets that were repossessed ended up being his saving grace, because they didn’t end up taking him to prison. He released an album titled “The IRS Tapes: Who’ll Buy My Memories” in an attempt to raise the finances to pay off his debts, and by 1993, he had done just that.
just like the rest of us, celebrities can land themselves in some serious trouble
if they make the wrong choices regarding their taxes. All the glitz and glamour in all the king’s kingdom can’t save you from the taxman, and these poor souls
had to find that out the hard way.
DMX All he did was try to have a party up in here — and who can blame him? — until it all came crashing down. American rapper DMX knows just as much about running into the wrong side of the law as he does about success. When he wasn’t busy selling nearly 75 million records in his lifetime, he was preoccupied
The lap of luxury isn’t always luxurious.
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