Designers Dolce and Gabbana Are Allegedly Going to Jail for Tax Evasion Too!

It’s true what they say, mo’ money really does equal mo’ problems! I’m sure what’s going on with these celebrities dodging the system lately and now the trend is spreading overseas. Italian designers Domenico Dolce and Stefano Gabbana of the “Dolce and Gabanna” fashion empire, have allegedly been slammed for tax evasion in their native Milan, Italy.  According to Time Magazine, the pair was allegedly convicted of tax evasion Wednesday for “failing to declare euros 1 billion ($1.3 billion) in income to authorities” AND they have both supposedly been sentenced to almost two years in jail!

As reported by Time:

Two years ago, a judge threw out a tax evasion and fraud case against the pair, whose label Dolce and Gabbana is a Milan fashion mainstay. Italy’s high court later ruled the designers could be prosecuted for tax evasion, though not for fraud. The designers have denied the current charges.

At this point, I’m chalking this tax reluctancy issue up to greed. It’s not a miscommunication or ignorance. These people just want it all, even if it’s illegal! D&B withheld taxes for over a BILLION dollars! Time reported that “prosecutors argued that the pair had evaded taxes on income of 416 million euros each and 200 million euros through a Luxembourg-based company”. It’s not like this higher end name brand couldn’t afford to file and pay their country’s taxes.
For all you D&G fans and buyers out there, I know the possibility of D&G supposedly going to jail will probably be a huge blow to the fashion industry, in addition to possibly setting the brand back when it comes to keeping up with other designers. I know this is happening overseas, but the rules below still apply!
To avoid this sink hole of a money pit, FILE YOUR TAXES, PERIOD. Don’t go see Deacon Johnson in the church’s basement or some guy you know is good at math. Use the professionals (Jackson Hewitt, H&R Block, etc) that’s why that whole profession was created. D&G, I’m not sure who the proper people are over in Italy but I’m more than confident that you two wouldn’t have a had a problem filing if you had chosen to do so.

How to avoid “Tax Issues.”

  1. Decrease your number of exemptions to a true number.
  2. Don’t claim children that are not yours, during the year or on your taxes.
  3. Give your sister her children’s social security numbers back
  4. File your taxes by April 15 each year.
  5. If there are unforeseen circumstances, file for a 3 month extension.
  6. If you cannot pay all of your taxes at one-time, set-up a payment plan.
  7. Don’t forget to develop appropriate tax-shelters for yourself.
  8. Keep your money tight and hire a licensed CPA with an office.

Dr. O


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