The Ethics Of Making Money, Bieber Missed His Taxes-Payback for Diddy Mess?
It’s been less than two decades since, thanks to YouTube, Justin Bieber became a global superstar. His launch to stardom happened quickly, and now the singer is worth hundreds of millions of dollars. However, making lots of money means paying lots of taxes, which has not happened in at least one case, leading to Biebs getting hit with a significant tax penalty.
Last week, TMZ reported that Justin Bieber, who became a dad this past summer, was considering suing his business managers. The singer apparently feels that his finances have not been handled properly for years. We now have a specific example of just what might be the problem, as Bieber reportedly owes nearly $400,000 in unpaid property taxes.
Why Justin Bieber Owes A Nearly $400K Tax Bill
In January 2023 Justin Bieber purchased a home in Coachella Valley, California, near the home of his former manager Scooter Braun, worth $16.6 million. A house that expensive comes with a pretty significant property tax bill, $380,349 to be exact. Half of those taxes were due on October 10, but according to The Sun which says it has seen the records, the bill has not been paid.
If that’s the case, then tax penalties will likely be assessed, and a tax penalty on a $380K bill is likely significant. Bieber can almost certainly afford it. The singer sold his music catalog the same month he bought the house for $200 million.
Bieber is far from the first star to end up in trouble over taxes. Wesley Snipes ended up in jail over tax issues in the past. Other celebrities have been arrested for non-payment of taxes as well as alleged tax fraud.
However, the fact that bills have not been paid may be part of the reason that the singer is considering legal action against his former business managers.
Justin Bieber Reportedly Thinks His Management Has Been Wasting His Fortune
Justin Bieber’s net worth has been estimated between $100 million and $300 million but whatever the number, it’s significant. However, Bieber himself may think the number should be a lot higher than it is. Last week it was reported that he was considering suing his business managers for mismanagement.
It’s unclear exactly how many people could be sued, or how much Bieber believes has been lost, but more than one manager are reportedly the target of any potential lawsuit, and a lot of money could be at stake. Bieber cut ties with his previous management company back in May.
Justin Bieber’s current team is apparently not entirely sold on the idea of suing. Some are reportedly suggesting that Bieber himself is at least partially to blame for any financial problems as he has been known to spend a lot of money on everything from private jets and houses to church donations.
Article by https://www.cinemablend.com/
Video Courtesy of The Economic Ninja
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