Kanye West attends Fashion Group International's Night of Stars Gala at Cipriani Wall Street in New York City on Oct. 24, 2019.The Late Late Show"God is using me as a human being… as humbly as I can put it he’s using me to show off. Last year, I made $115 million and still ended up $35 million in debt. This year, I looked up and I just got $68 million returned to me on my tax returns," West claimed about his apparently divinely inspired tax windfall.
"He could literally have $1 billion in the bank and keep $35 million in debt just because he hasn't paid it off yet," LaFond adds. "Making $115 million doesn't mean he directly needs to pay off his $35 million debt, and additionally he could have made $115 million and spent it all." She suggests thinking about it like student loan debt. You could have $200,000 in student loan debt and make $500,000 a year but keep paying the minimum payment on your loan for years.
Similarly, Pesce says that it's very possible to have such big swings in income and tax liability, especially in the entertainment business. "There might have been a lot more expenses associated with this debt that gave rise to this suprising tax refund," Pesce says.
I guess he hasn’t read the bible! “I’ll say it again—it is easier for a camel to go through the eye of a needle than for a rich person to enter the Kingdom of God!” Matthew 19:24
Fraud
Entertainment Entertainment Latest News, Entertainment Entertainment Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: RollingStone - 🏆 483. / 51 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Source: etnow - 🏆 696. / 51 Read more »