News: Strip Clubs Are A Legit Business Expense, Explains Jim Jones [Audio]
Thursday, Mar 7, 2013 2:20PM
Dipset's Jim Jones has stood behind new reports claiming he is using his various visits to strip clubs as a legitimate write-off for the tax season.
According to Jimmy, he does not go to the gentlemen's clubs anymore for leisure but instead uses those spots as marketing expenses.
"Yeah, I mean, it's part of my life," Jones explained when asked about writing off his strip club money for his taxes. "I don't go to the strip club to actually waste money, we go to the strip club as an appearance and it makes you look better as a rapper, so it's part of the lifestyle. You know what I mean? Yeah, that's got to get written off. You know what I mean? I didn't go in there to blow that money to have fun. I've been going to the strip clubs for ten-plus years. I been to every strip club in the world. I'm not doing it for fun at this point. I think it's all part of the marketing and promotion strategy. The better you look in the club, the more people want to see what you're about, the more people want to listen to your music. It's all perception." ("Jenny Boom Boom TV")
Earlier this week, reports of Jim and other artists defending their strip club sprees surfaced online.
Rapper Jim Jones is figuring out how to deal with Uncle Sam next month, and he's considering deducting expenses on his income tax for making it rain. Well guess what, in theory he might have a fighting chance of winning. Jones is not alone. Bizzy Bone tells TMZ, "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?" The Game tells TMZ ... 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." Daz Dillinger tells us, "Hell yeah. I'm going to see about getting my taxes fixed as soon as possible." And Lil' Flip tells TMZ he's actually done it ... deducted making-it-rain expenses from his taxes. (TMZ)
There are reportedly two specific ways hip-hop artists could write off the money they drop at the strip clubs.
So here's the deal ... There are 2 possible ways a rapper could justify deducting strip club tips as a business expense: 1. ENTERTAINMENT EXPENSES. These costs could be deducted if the rapper is entertaining a client, customer or employee and the expense is not "lavish or extravagant." So it might be hard for Drake to justify dropping 50K in a club, but another rapper who lets a grand fly would have a much better argument. 2. ADVERTISING OR PUBLICITY. These expenses could be deducted if they are "reasonable ... and are directly related to [the rapper's] business." Funny thing ... a lot of rappers say making it rain is something they have to do to build their image so people will buy their records, so as crazy as it sounds, they may have a leg to stand on. But there's another problem -- those pesky receipts. Strippers don't typically take a time-out to pull a receipt out of their G-string. (TMZ)
The tax tips came just a day after Young Money's Drake reportedly blew $50,000 at a North Carolina gentlemen's club.
In his search the Canadian rapper must have made the dancers at Cameo Nightclub in Charlotte, North Carolina, very happy when he made it rain $50,000 on a recent visit to the club. Photos show that the 26-year-old brought a cardboard box full of $1 bills, which he threw in the air over the dancers with glee, until the floor was nothing but a sea of greenbacks. (Huffington Post)
Check out Jim Jones' interview: