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Easy money management tips

Easy money management tips

How you manage your money is an important task that you should take seriously. Not only will it reflect on your situation in the future, but it will also make your days go smoothly as you don’t have to worry about always running low in […]

Stress-free ways to manage your federal income taxes

Stress-free ways to manage your federal income taxes

According to Investopedia, “federal income tax is a tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities. Federal income taxes are applied to all forms of earnings that make up a taxpayer’s […]

Celebrities who had problems with filing tax

Celebrities who had problems with filing tax

Celebrities, even with their luxurious lifestyles, are not safe from the investigative eyes of the IRS. In fact, there is a long list of famous people who ran into trouble with the IRS. With the amount of money these stars earn, it’s no surprise that they experience complications with how they manage their financial streams. These are just some of the celebrities who learned their lesson the hard way.

Nicolas Cage. The Face/Off star once owed $14 million to the IRS after he bought a castle, a bunch of reptiles, and a pyramid tombstone. Cage says he had already settled $6 million of the debt that he had acquired after his lavish spending habits.

Wesley Snipes. Snipes failed to pay three years worth of taxes between 1999 and 2001 and had to go through a lengthy legal battle. After the verdict, the actor had to spend two years in federal prison and was released in 2013. In 2015, the IRS says that he still owes an additional $17.5 million.

Mike “The Situation” Sorentino. In January 2018, the Jersey Shore reality star pled guilty to tax evasion after failing to pay almost $9 million between 2010 to 2012. The star could face five years in prison after his sentencing in April 2018.

Stephen Baldwin. Baldwin failed to pay New York state income taxes for the years 2008, 2009 and 2010, which totaled for $400,000. Baldwin claims that his failure to pay tax was not done on purpose and that he was just following bad advice from his lawyers and accountants.

Ahmed Nashaat is a UCLA student who aims to be a financial advisor and an accountant. Always interested in working with numbers, Mr. Nashaat sincerely wants to help people manage money matters and their finances better. For more articles like this one, visit this “page.

Tags: Tax, celebrities, tax evasions

Sources:

https://www.gobankingrates.com/taxes/filing/celebrities-convicted-tax-evasion/
https://www.thisisinsider.com/celebrities-with-tax-trouble-irs-2017-4
https://blog.cheapism.com/celebrities-with-tax-problems/

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Here are signs that you’re financially independent

Here are signs that you’re financially independent

Almost everyone I know wants to become financially independent at a certain point in their lives. But have you ever wondered what financial independence actually means? It’s often defined as this: you’ve saved enough to support your current spending habits for the rest of your […]