Dame Dash Speaks On Tax Problems

Posted By: August 9, 2011 @ 9:24 AM EST General

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“Nah, nah, I’m fucked up.”

Last Friday, Roc-A-Fella Records co-founder Dame Dash visited Sway In the Morning On Shade 45. During his interview, he admitted to his financial setbacks and owing the IRS $2 million in back taxes. He insists that he isn’t broke. Instead, his money gets recycled into his other businesses.

“They’re auditing me. When you’re a business man, you have a lot of businesses, a lot of times they think you’re laundering money or you’re pretending you’re writing things off that you don’t,” he continued. “I’m a true businessman. As you know, I believe in my independence, I have no partners, so every dollar I make goes right back into every business I have.”

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22 Comments
  • Biittcchh!

    Respect to Dame..

  • ZoomZoomDad-Otis

    U remember DAME DASH on that MTV CRIBS saying “i only wear a white tee shirt 1 time and throw it away i never wear the same white tee twice”. Dude was spending $$$ like crazy instead of saving it.

  • deebo

    @ZoomZoomDad-Otis

    ye i remember seeing that, but at the time he had so much money coming in he could do it.

    i’ve always liked dame cause he speaks the truth and says it how it is and ain’t scared to say it.

  • rahrahrah

    @ zoomzoomdad-otis

    But it was a business expense. Every actor deducts his clothing as a business expense, because he is an incorporated business, and their appearance is important for maintaining their brand. Of course there are limits on how much of your food clothing and shelter expenses can be declared business expenses. But this is the nature of tax laws. If you can afford to flow everything through a corporation, if you can afford a good accountant then this is what you should do. But a good accountant is expensive, scrimp on that and you will be talking to the taxman, ass out in a cocaine drought!

  • Ac@pella!

    I respect Dame for being honest and humble. U can tell he’s definitely matured since his days at Roc-A-Fella. I wish nothing but the best for him in the future. #Salute

  • get bucks

    I wonder if Dame is on a lifetime ban form success, because of Jay-Z? It seems like this guy can’t catch a friggin’ break out here. This is crazy treatment for a guy that discovered/invested in Kanye West’s rap career. His asshole rep aside; Dame’s ear/vision has shaped music for the last 15 years. That should count for somethin’.

  • http://pizzaaarahut.com troofa

    HE should just find the new jay z and kanye .i know he can do it its 6billion humans on this earth.Trust me he can definitely spot new talent than currency! i say jpin twitter and send out demo submissions and pick the hottest shit smoking.Dames name still hold weight and someonme will give him a shot if he comes with some selling points period!

  • VIBRANT THANG

    Didnt he get his tax break from Uncle Sam Bush like the other corporate owners n CEOs. They getting away like bandits from corporate loopholes, these so called job creators that really not creating any jobs. Not here in the U.S. Anyway Dash, u pay ur fair share.

  • sway-z

    Yeah his name still holds weight….as a nigga who spazzed on and disrespected just about everybody he dealt with. This is the main reason Hov wanted to get from around this nigga, he had to play good cop and clean up all the shit Dame would stir up. Especially in a fickle ass business like the music industry, you can’t burn bridges when your poppin

  • Sc_r

    Dame blackballed himself.. He’ll be back though far from a dumb nigga.. But jay-z throw his name on every hot new act got em scared to fuck w dame

  • Fuck Ya Life

    I thought I saw something on tv or the net last year with Dame tryna relaunch Roc-A-Fella with Curren$y as an artist? Anyway I knew this guy was gonna have problems with something money related when he was talking about its easy to blow a million in 1 night clubbing.

  • franky knuckles

    dame has always been the truth! yess maybe a loudmouth dude but he’s a great businessman, real hustler, loyal dude!

  • Black Shady

    sad…….but thats his problems

  • Hip Hop Delegation

    Dame Dash is a legend in the realm of Hip Hop. It’s sad that divide and conquer was the only way for a business founded by 3 black men to have longevity. For Kanye & Jay to be rapping “Otis” and Dame to be F’d up is an injustice to the game.

  • Dope

    Even when money get’s ”recycled” trough other businesses he is supposed to earn. And he doesn’t seem to earn it the way he speaks.

  • http://www.twitter.com/korey_k koreyk

    I really think the tax thing is nothing major I’m looking at creative control tv and this guy is throwing events, festivals, and dropping albums. Its clear he ain’t doin it like Jay-Z but he good.

  • Biittcchh!

    @ Hip Hop Delegation.. You aint never lie…

  • http://www.derecording.com Ionic8

    Wesley is waiting for you Bruh, smh…8

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