Behind the Music: Back Taxes
Ask any guy what his dream job is and rock star is sure to make the list. Life doesn’t get any better when you’re making big bucks playing music in front of thousands of people.
But while being an entertainer can be fun, it’s still a job – with taxes to pay.
Entertainers are no exception when it comes to the financial responsibilities everyone else faces.
IRS agents may don black leather pants and hip jackets at weekend concerts, but that doesn’t mean they’re any less lenient to rock stars who’ve come to owe back tax debt to the IRS. Here’s a look at a few rock stars who got into tax trouble with Uncle Sam.
After the music stops and the money’s spent, musicians of all stripes can find themselves in hot water. A couple hit singles can bring a little bit of fortune, but financial mismanagement or a hard partying lifestyle can make taxes an afterthought.
Musicians may be in a better position to pay off their back taxes with royalties from still-played radio hits, but you don’t need a one hit wonder to get your taxes in order. With the help of a tax professional or tax attorney, you can write a tune that’s music to the IRS’s ears.
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