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Friday's Three Burning Legal Questions

Here are today's three burning legal questions, along with the answers provided by the blogosphere.

1. Question: I am a rapper. Can I take a tax deduction for the tens of thousands of one-dollar bills that I distribute to strippers in strip clubs when I "make it rain"?

Answer: Some of your fellow rappers like Drake and Bizzy Bone claim that they are entitled to claim stripper tips as a business expense. I'm not certain these rappers also have their CPA licenses, however, so deduct at your own risk. (Accounting WebStrip Club Tips Rain Tax Deductions for Rapper)

2. Question: My husband is having an affair with another woman. While he was out with his floozie, I advertised a "Lying Cheating Sale" on Craigslist and sold all of his things (clothes, tools, furniture, etc.). Can I keep all of the money?

Answer: Unlikely. In divorce proceedings, the court often requires both sides to account for all assets, including funds raised from a Lying Cheating Sale. The court will then likely divide up the assets as it sees fit. (The Province, White Rock woman holds 'Lying Cheating Sale' to sell all her husband's stuff while he's 'gone with his floozie')

3. Question: Any chance that I could successfully create a fake movie, like in Argo, to allow myself to claim millions of dollars in tax deductions and tax relief? 

Answer: No, the tax authorities are on to "film-tax fraud." (The Associated Press, 5 convicted of inventing movie to hide tax fraud)

Posted by Bruce Carton on March 15, 2013 at 04:34 PM | Permalink | Comments (1)

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