… in other strip club news
Rappers & Taxes: Can They Write Off Strip Club Expenses?
Rappers are trying to have the money they make it rain with classified as tax write offs. As crazy as it sounds, they may be onto something.
The Game says … “Making it rain is good for business and promotion that comes with the lifestyle of a rapper. They bump our music in a strip club, so me giving the girls a little bit of change to shake their ass — that comes with the business. Everybody wins.” And Lil’ Flip aslo says he has actually done it … deducted making-it-rain expenses from his taxes.
There are two ways for a rapper to have strip club expenses deducted from their taxes. They are as follows:
1. ENTERTAINMENT EXPENSES A rapper can write off expenses if they are entertaining a client, customer, or employee and the total money spent can’t be “lavish or extravagant.” That means if a rapper goes to the strip club and drops one to five thousand dollars, they can write it off. However, Drake’s recent $50,000 strip club excursion wouldn’t be permitted for deduction under this.
2. ADVERTISING OR PUBLICITY Rappers can use this method to write off expenses if they are “reasonable and are related directly to the rapper’s business. this could open the floodgates because every rapper will try to say they go to the strip club and throw all of that money to boost their rep and image in the entertainment industry, which is part of their business.
Bizzy Bone said “I’m giving charity to females who need their light bills paid. So, of course, that’s a write-off. You write off your kids, don’t you?” Should rappers be able to write off strip club expenses? I bet me and you wouldn’t be able to do this. And when is the last time you saw a stripper with a receipt book.