Our OC brother Nic Cage, faces off with IRS! | FerrariChat
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Our OC brother Nic Cage, faces off with IRS!

Discussion in 'California (Southern)' started by SrfCity, Feb 20, 2008.

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  1. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #1 SrfCity, Feb 20, 2008
    The IRS says movie star Nicolas Cage used a company he owns to wrongly write off $3.3 million in personal expenses, including limos, meals, gifts, travel and his Gulfstream 1159A turbojet. ... The feds hit Cage both ways, denying Saturn a deduction for the disputed expenses while taxing Cage individually on the perks as salary and "constructive dividends."

    Cage's business manager, Samuel J. Levin, says in an e-mail that the expenses were proper as "customary in the entertainment industry" and were partly based on the actor's "security needs."

    http://taxprof.typepad.com/taxprof_blog/2008/02/actor-nicolas-c.html


    They're slapping around another celebrity and trying to set yet another example....
     
  2. mksu19

    mksu19 Formula 3

    Jan 4, 2008
    1,864
    LAX / YVR / MNL
    Full Name:
    Capt. K. Banzon
    #2 mksu19, Feb 20, 2008
    I sure hope they never find out about him being involved in the "big boost". He just did it to save his brothers dumb arse. :D
     
  3. amenasce

    amenasce Three Time F1 World Champ
    Silver Subscribed

    Oct 17, 2001
    34,361
    Full Name:
    Joe Mansion
    #3 amenasce, Feb 20, 2008
    Continue to slap them and as soon as they can they will move out ...pretty smart !!
     
  4. burnout04

    burnout04 Karting

    Sep 16, 2005
    156
    Malibu/Dubai
    #4 burnout04, Feb 21, 2008
    if the government wants to make an example of you......you better just bend over and take it. at the end of the day they write, and control the laws, so you better just be done with it and move on. they almost always win, and the more you fight it, the more they will want to f*ck you
     
  5. sailor2

    sailor2 Formula Junior

    Jun 14, 2004
    447
    #5 sailor2, Feb 21, 2008
    Quick, someone forward him Wesley Snipes' number.
     
  6. wingfeather

    wingfeather F1 Rookie

    Feb 1, 2007
    3,653
    rock bottom
    #6 wingfeather, Feb 21, 2008
    Is there another country with better tax treatment for the uber riche?
     
  7. PDX Tifosi

    PDX Tifosi Karting

    Jun 19, 2007
    109
    Vancouver, WA
    Full Name:
    Dan
    #7 PDX Tifosi, Feb 21, 2008
    Monaco.
     
  8. arezzo

    arezzo Formula Junior
    BANNED

    Jul 29, 2003
    699
    Kuwait
    Full Name:
    SH
    #8 arezzo, Feb 21, 2008
    Too many to list, google tax haven...


     
  9. Jim Bremner

    Jim Bremner Karting

    Jan 2, 2006
    148
    #9 Jim Bremner, Feb 21, 2008
    when the new people take office things will get worse
     
  10. JERRYZ

    JERRYZ Formula Junior

    Sep 1, 2004
    662
    Orange County, CA
    #10 JERRYZ, Feb 21, 2008
    Nick's not our OC Brotha anymore. He sold his house to Terribles for $35m last month. After the intruder incident he felt NB wasn't safe for him and his family. They went back to LA.
     
  11. mksu19

    mksu19 Formula 3

    Jan 4, 2008
    1,864
    LAX / YVR / MNL
    Full Name:
    Capt. K. Banzon
    #11 mksu19, Feb 21, 2008
    The Philippines! All you gotta do is "buy" a contact (usually for less than $500.00 per annum) from within the internal revenue and you're set! They're pretty up to date and plenty of F-Cars there too. Factory service is also available for dirt cheap, you'll practically be paying for just the parts cause labor is so so cheap!!! Gotta love the ultra corrupt countries. :D
     
  12. mksu19

    mksu19 Formula 3

    Jan 4, 2008
    1,864
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    Full Name:
    Capt. K. Banzon
    #12 mksu19, Feb 21, 2008
    Oh yeah, he's much safer now! :D
     
  13. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #13 SrfCity, Feb 21, 2008
    Hmm, $35M? Probably another reason why the IRS is on the hunt.
     
  14. TG

    TG F1 Veteran

    Oct 26, 2004
    6,290
    Newport Beach, CA
    Full Name:
    Taylor
    #14 TG, Feb 21, 2008
    The Terribles boat looks quite fitting in the slip.

    Through a friend familiar with that level of security, he thinks there is more to the story with the naked intruder.
     

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