Rappers Writing Off “Making It Rain” As A Tax Deduction
TMZ - 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. 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.
First thing’s first – Daz Dillinger should be “making it rain” in the club about as much as I should. It should be a light like a light, drizzle, sun shower when Daz Dillinger is in the club. Him and Mack 10 and Kurupt and the rest of Tha Dogg Pound should be counting their pennies in the club, wisely choosing who to spend their money on. It should be bright and fucking sunny when they are in the club.
But gotta give credit where credit is due. These fucking retard rappers know their accounting loopholes. Its like that nerd who’s Dean Prichardt’s assistant in Old School: “As stupid as they appear, they’re actually very good at paperwork.” I mean can you imagine Bizzy Bone sitting down with his accountant Kenny Schmelkin talking about his tax deductible expenses? “Well as far as work related expenses – I purchased that new studio to record in. Write off about 25 thou for that. Charity – I made it rain at The Trophy Club. Donated at least about $10,000 to single mothers of Houston. Public image advertising – at least 10-15 niggas in the club gonna by my album after I threw that trashbag full of singles.” Before you know it, Bone Thugs is only declaring like 15 grand in taxable income. Granted they only gross like $25,000 off of residuals from “Tha Crossroads” but nonetheless their accounting is on point. You gotta spend money to make money. You gotta break a few eggs to make an omelets. And you gotta make it rain to sell records. Just the cost of doing business.