Dipset’s Jim Jones, Game, Lil’ Flip and more hip-hop artists have stood behind using the strip club as a key tax write-off for the Internal Revenue Service (IRS).
According to Jimmy and Game, spending money at the adult clubs should be recognized as legitimate business expenses.
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 comes 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)
A couple years ago, Maybach Music Group leader Rick Ross reportedly spent $1 million at Miami’s King of Diamonds.
Rick Ross knows how to burn money. The ‘B.M.F.’ rapper recently celebrated his 35th birthday in his hometown of Miami, shelling out approximately $1 million for a wild night on the town. The Bawse followed his birthday party at Play nightclub with an after-hours bash at Miami’s famed King of Diamonds strip club, where he was joined by a handful of celebrity friends, including Busta Rhymes, Pharrell Williams and fellow Bugatti Boys member, Diddy. During the course of the night, Ross reportedly spent $1 million at the popular Miami strip club, where Lil Wayne also celebrated his return to the city, after serving jail time in New York. (The Boom Box)