Entertainment and Pop Culture

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We all love to gawk at celebrities in the news. The rest of the world may focus on sex tapes and wardrobe malfunctions, but here we like to discuss and cover the trials and tribulations of the rich and famous. Tax and finance information affecting celebrities and others from the entertainment world fascinate us, and result in some of the most interesting quirky behavior like musicians touring to pay off tax debts.

When people from the entertainment world get into financial trouble, it often makes the news, and seems incredulous from there higher income. However, because touring musicians and other celebrities who earn income in various states and countries have more complex filing requirements, it stands to reason that they need larger numbers of financial personnel in their orbit. The entertainment world often features colorful financial advisors, who create news and scandals of their own.

Willie Nelson’s story of the IRS seizing his assets made news in 1990, but other artists have found themselves in tax problems. Other entertainment figures that found themselves in IRS problems over the years include Wesley Snipes, Richard Hatch, O.J. Simpson, Sinbad, and Lauryn Hill. O.J. Simpson has had a series of legal problems, some criminal and some civil, which included his spending 9 years in person for robbery. Most entertainment scofflaws limit themselves to financial scandals.

See something money related in the news about someone famous? Saw something on Twitter or Instagram that you think that we should cover here? Tag us, DM us, forward the Post to Us, or mail us so we can cover it. Seriously, hit us up on social media and we’ll share it with everyone else.

50 Cent Files for Bankruptcy – #FinanceFriday Lessons

By |2021-03-01T22:39:57-05:00July 17th, 2015|#FinanceFriday|

Curtis James Jackson III, AKA 50 Cent, filed for bankruptcy. Despite a Net Worth of $155 million a few months prior, he now lists assets and debts between $10 and $50 Million. Individuals who quickly make huge sums of money in a short time (think pro athletes, lottery winners), forget that the level of income will not go on forever.

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