Once again another African-American star is in the news for “Tax Evasion.” There has been a lot of back-and forth about the actual amount, but there seems to be a little smoke to this fire. However, there is some good news. Ms. Lauryn, Grammy Winner, signed with SONY and this should cover her debt to society. I am just wondering, will she grab this bull by the horn so she can kill it for once and for all?
Last Friday, she plead guilty to “3 Counts of Failing to File Federal Income Tax Returns.” She did not file returns between 2005-2007. Her income was reported as 1.8 million and she still did not file. I wonder what most of us would do with that kind of money.
She was released on a $150,000.00 bond. The judge was nice enough to let her keep all of her engagements. Allegedly, she was suppose to seek mental health counseling ,also. However, Ms.Hill makes it clear that she has to go to “family counseling” and NOT “mental health” counseling. I am not sure, if I owed that kind of money, I would not be depressed myself. I am wondering what is the difference? Either way, something is wrong, if you think that big brother is NOT watching those of us who make a few more pennies than average. She may need some support (talk-therapy)and who cares, all of us can use a little counseling and one-on-one counseling from time-t0-time.
This issue keeps coming-up in our community. First Wesley Snipes and now Lauryn Hill. Is it just that we don’t want to pay or what? My lawyer told me that people just don’t want to pay. I was appalled because I always pay, and try to keep my name off of some “powers-of-that-be” books. Now, I ain’t gonna say, I ain’t had a tax lien or two in the past. Well, many years ago, I didn’t understand how this money thing worked but I have it well controlled for now. Get a licensed CPA. Bubba and dem can’t do your taxes in the basement, once you make over about $65,000.00/year. Also, once you reach a certain level, if the kid ain’t yours, don’t claim him/her. Enough of that foolishness already.
Hill has six children, so I am glad that the judge had mercy on her. The relationship between a parent and their children is most important. Lauryn’s kids need her and I do believe that she is a wonderful mother, who just does not like to pay taxes LOL . Anyway, she is getting it together and has made arrangements. Now, y’all know, we all have had to make arrangements before. I ain’t mad at Lauryn, I am just glad she got her a good lawyer and made things happen in her behalf.
How to avoid “Tax Issues.”
- Decrease your number of exemptions to a true number.
- Don’t claim children that are not yours, during the year or on your taxes.
- Give your sister her children’s social security numbers back
- File your taxes by April 15 each year.
- If there are unforeseen circumstances, file for a 3 month extension.
- If you cannot pay all of your taxes at one-time, set-up a payment plan.
- Don’t forget to develop appropriate tax-shelters for yourself.
- Keep your money tight and hire a licensed CPA with an office.
I hope this has been helpful, and Lauryn we are proud of you and we support you.
Dr. O
