Monday, November 19th, 2007
Financial Turmoil
Posted by Bossip Staff
Bossip recently interviewed Damon Dash were he discussed his paper situation. Although Dash said his finances are fine, the New York Post says something different:
The records show that hip-hop mogul Damon Dash – whose estimated $50 million fortune bought him a chauffeur-driven $400,000 Maybach sedan, diamond-encrusted watches and more than 1,000 pairs of sneakers – owes the state more than $2 million.
Dash, 36, is one of almost 225,000 city debtors who together have shortchanged the city and state more than $1 billion in income taxes, penalties and interest, the records show.
Dame better pay up, SMH. Cicely Tyson and Ben Vereen are on the list as well.
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Topics: Damon Dash
1st
1st after the 1st? lol
he better go head and make up with Jigga and make a State Property 3!lmao
Sounds like someone needs to get their ***** together, and quick!!!!!!
TX.
Imma need u to put on ur thinkin cap for this.
2nd from the bottom 3rd room.
The NY post is a tabloid for all you NON nyers.
Go ahead Dame and stick it to the middle cl***** by not paying your damn taxes. The working middle cl***** pays more taxes than anybody and every time these millionaires don’t pay their taxes they stick it to us even more trying to make up the difference.
We would all be in jail right now not paying our taxes.
Sucks to you. Should have married a black woman.
I know The Post is owned by the same ***** that owns Fox and everything else connected to that ***** peoplez….But Dash better Hoffa At Jay for a loan ASAP…
50 Million compared to 350 Mil?
I dunno, bruh I dunno…
He was said to be fond of internet recently. Some of his female fans found him on a millionaire&celebs dating club MeetRich.com. He has a personal account there with his handsome pictures, blog…In his friend circle, some other stars can be found there. Of course, many hot girls join in his circle. One of girls there said that they often joked, even flirt with each other.
Ben Vereen us Ushers pops.
Trifling.
http://www.theblackactor.com
wtf
that is what he gets for buying 1,000 pairs of sneakers.
Mr Dash,
If this is at all true, PLEASE PAY YOUR BILLS FIRST.
You know before you spend $135K on a CAR.
*sigh*
See what happens when you pop ***** about your ol’ boy? Not a good look Damon.
I agree, not a good look. Pay ya bills….shut the fugg up about ya loot and get off the public radar homie.
sitfu.com
Taking a Closer Look at the Stories Ignored
by the Mainstream Media
All of u guys are right. But why they gotta put the brotha pick right on the TOP? Dang…
was it neccessary for them to list the deaceased Jam Master Jay? Death and taxes….
Dame on some Imelda Marcos ***** with 1,000 pairs of sneakers. Some starvin’ bare-foot kid in Nigeria would kill for a pair of ol’ Jordans Dame wore once then tossed in his *****in’ basement.
oh I see now. I guess ’cause he owes the most. lol
Loser!
These so-called business men/women in Hip Hop were never really business people. Basically, they just jumped on the Hip Hop jugernaut where business deals were flying everywhere. At one point just about any have way hot rapper could put out a clothing line and call him/herself a designer. Just about any rapper could put out a sneeker and call themself an entrepenure.
Hip Hop was just hot and people were making money who werern’t really business trained. These guys never even graduated from high school.
Now that Hip Hop is not as hot, “the chickens have come home to roost.” Now these guys really have to be business savy in order to hold on to their fortunes.
A lot of these guys are going to go broke as the goose (Hip Hop) that laid the golden egg (people stacking cheese everywhere) is dead (records sales are in the toilet).
Co-sign jazzyphile. These dudes had a lot of people fooled like a certain hip-hop couple out there who shall remain nameless cuz people hear there names and go STANSOLUTLY CRAZY LOL!!!!
But….what I have alwayz wondered, since I found out he is married back in like 2004 is…
1. Aaliyah died in August of 2001 and he has a 7 year old child with his CURRENT wife so when did they get married?
2. I could have swore he and Aaliyah claimed to be engaged at the time of her death. But then again EVERYONE is engaged in Hollywood as soon as they start dating AND she was promoting an album at the time so that doesn’t mean anything. But they were dating so when did this marriage thing happen?? Before, during or after his relationship with Aaliyah?
Either way, I have never like him. I can’t stand his whole s*****e and his head is ENORMOUS!!!
Dame said “Real thorough Harlem cats don’t pay taxes” Stanley Crouch is busy trying to be accepted by NY’s White power elite but doesn’t pay taxes.
stanley crouch is on there, lol thats the brother that tries to air us out in the daily news, lol
Hell, most major players don’t pay taxes and that includes corporations. Y’all the ones being conditionted to do so and like little sheep, y’all just go straight to the pasture to be slaughered.
I wonder if Bossip still rolls wit dame dash and not Jay z. I wonder if there gonna call him back and do another interview
Sigh….. why won’t these negros pay their taxes don’t they know yt is just waiting to do a Red Foxx on dat azz.
Corporation may get away without paying taxes. Believe me, the IRS will eventually catch up with these entertainer types and breakem’ down like salt on a snail. Can I say: Red Toxx, Sammy Davis, Jr., Peabo Bryson, Ronald Isley, etc.
Does anyone live in New York here? Think New York will make Jeter pay 10 million dollars in taxes? A lot of people i talk to said New York tax office is being unfair to Jeter and he should not have to pay because he plays for the Yankees and he’s perfect. I guess only the poor need to pay taxes and not Derek Jeter. I live in Atlanta just wondering if anyone else know about this.
Ny Daily News:
November 17, 2007
Derek Jeter and the state Department of Taxation and Finance are locked in a battle over where he makes his home.
The Bombers captain says he lives in Florida, while the tax collectors argue he resides in Manhattan’s Trump World Towers.
At stake is a sum that could run into the millions: the amount of taxes he should have paid from 2001 to 2003 if he was a New Yorker those years.
State tax officials refused to comment on the Jeter case but outlined the factors that determine whether someone is “domiciled” in New York.
The key issues are whether he owns a home here, has business activity and family or social ties here, where he keeps items “near and dear,” and the residence he lists on do*****ents like voting rolls.
“We add them all together and decide where do we feel the person has most ties,” said Mark Volk, deputy counsel for the tax department.
In legal papers submitted to the Division of Tax Appeals, the state noted Jeter’s “numerous public statements professing his love for New York.”
He hasn’t backed off those statements. “As a Yankee, Derek has great affection for the people of New York and its amazing fans, but since the mid-1990s, he has made his home in Tampa, Fla.,” said his agent Casey Close.
Tax officials said most residency disputes settle quickly – but Jeter’s case is already before an administrative law judge. It could be months before the judge makes a decision, and if Jeter loses, he can appeal.
John Lieberman, a Manhattan accountant who works with athletes and entertainers, said he thinks Albany is making an example out of Jeter.
“The new administration in New York wants to publicize these high-profile cases to make other people comply with these rules,” he said. “They do a very good job and they do their homework. This is not frivolous, but I’m sure they’re using it as a test case.”
It’s unclear how much the state dunned Jeter for, but Lieberman estimated it could be $10 million.
That’s because nonresidents pay taxes only on the income they get from New York sources, while residents are taxed on everything they earn.
So while Jeter may have paid New York taxes on his $22 million Yankee salary, if he loses he’ll have to cough up some of his endorsement and investment earnings – plus interest.
His mother doesn’t think that would be fair. “My son is from Florida,” she said. “He’s lived in Florida all his [adult] life.”
Ma Dorothy goes to bat for Derek Jeter
BY MIKE JACCARINO and TRACY CONNOR
DAILY NEWS STAFF WRITERS
Saturday, November 17th 2007, 4:00 AM
Derek Jeter’s mother, Dorothy, scolds a reporter outside her New Jersey home, saying: ‘My boy does everything right.’ Albans/News
Derek Jeter’s mother, Dorothy, scolds a reporter outside her New Jersey home, saying: ‘My boy does everything right.’
Derek Jeter says he resided in New York from 2001 to 2003. Antonelli/News
Derek Jeter says he resided in New York from 2001 to 2003.
Don’t you dare call my son a tax cheat!
Derek Jeter’s mother defended him Friday amid allegations he sidestepped state taxes by declaring Florida his home state when he really lives in New York.
“He pays his taxes,” Dorothy Jeter told the Daily News.
“My boy does everything right – everything right,” she said at her New Jersey home. “He’s paid taxes in New York for every doggone day he’s been there.”
@ It’smesuprise
Yeah, that was cold for listing JMJ like that! Let that man rest in peace!
He had a baby while him and Aaliyah were together. In other words, he got with Aaliyah right after the birth of his kid. I remember not reading about the kid until he was with Aaliyah.
do you know that there is no law saying that you have to pay your taxes???
Interesting about BEN VEREEN…..he has started a “church” out here in LA. I was kind of tricked into going, because I am a believer in Jesus Christ and the church that he “preaches” at is a “scientology” church. So it looks like he is running from his taxes and collecting on these LA people’s. Damn shame. Glad I didn’t give them any money that day.
@Jazzyphile,
Not all Rappers didn’t graduate from High School, in fact most Rappers did graduate from High School, but didn’t go to College.
Yet there are many who did some College and even some who graduated, but in order to maintain street rep they keep that on the D/L.
Just like Kanye West / Diddy and a few other.
Don’t say stupid things until you have the stats to back it up.
There are stats that show that 60% of all startup business fail/go bankrupt each year, and as such being a Rapper is considered a business, being that you work for yourself and you become an employer, so Rap is no different than other U.S. business failure rate statistic.
Taxes: If you owe $10 -to- $30,000 in taxes you are hounded to pay it.
If you owe two million dollars, with attorney fees included with IRS deal, you end up paying just over one million dollars, so either way Dame is ok.
@gymo
Not that it’s important since they’re both multi-millionaires and icons. I bet you won’t find high school diplomas in the Jay-Z and MJB households, just to mention a few.
I never said all rappers–you knuckle head!
how stupid can one be? did he really think that his debt to the city would just dissappear? lol! he should have paid them off with his severence package from rockawear!
Including Jeter, that’s 6 black people on the list.
Why do they have to go and ruin it. Pay your taxes, the rest of us have to. What the hell.
Interesting about Crouch, old crusty running his mouth about everyone else.