4 – Young Buck
Musicians, unlike most people, don’t get regular paychecks with taxes withheld. They get their money with no taxes taken out.
That can be a gift or a curse, depending on who it is, and this is why entertainers in general get in trouble with the IRS, and rapper Young Buck owed the IRS hundreds of thousands of dollars in back taxes.
His problem was even worse, because when he got into money trouble, his rap career was basically over.
In 2012, IRS Agents raided his house and took basically everything of value from his house. That included his leather dining chairs, his watches, his tattoo kit, and even his refrigerator with the food in it!
Truth be told, the tax issue was probably not completely Young Buck’s fault. There supposedly was some miscommunication between his lawyer and business manager about who was supposed to pay the taxes.
The IRS did have a heart and loaned back Young Buck his refrigerator, along with a few other things. But taxes weren’t his only financial problems.
Twenty-two creditors submitted claims totaling $11.5 million dollars! He ended up having to file for bankruptcy.
What people don’t understand about being rich is that it is easy some times to be rich but very hard to remain rich,there come in the place of planning, investment, saving,if not ,one will fall back again to poverty
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