How Rappers Deduct “Making It Rain” Expenses From Their Taxes
Earlier this week, we posted photos of Drake making it rain $50,000 at a strip club in Charlotte, North Carolina, and we’re sure many of you were shocked at the amount of money that was strewn all over the floor … but did you know that as a rapper, Drake could actually write that off on his taxes as a business expense?
According to a group of rappers who know a thing or two about “making it rain” in the strip club, deducting those expenses from their taxes is a legitimate practice.
Rappers Jim Jones, Bizzy Bone and The Game all plan to do that next month when they face Uncle Sam, and TMZ says that it could actually work!
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.
Now, TMZ does note that it’s hard to exactly prove how much cash you dropped at the strip club — since “strippers don’t typically take a time-out to pull a receipt out of their G-string” — rappers still get away with deducting “making it rain” expenses from their taxes.
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.”
Bizzy Bone: “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?”
Daz Dillinger: “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.
Well I’ll be damned! Rappers really can deduct “making it rain” expenses from their taxes. You learn something new every day.
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