The news that the IRS is after rapper Flo Rida for a $1 million debt to the IRS probably makes him 'Whistle.' a different tune. What tax bracket is he in? Who is managing his finances? How did he accumulate a debt of that magnitude to the United States internal revenue service?
Beyond the obvious conclusion that he made a lot of money and didn’t pay taxes or thinking that it's a race relations thing and he's being set up, it appears that someone has faltered in the application of money management skills.
Think about it. Between Flo Rida, Mitt Romney and President Barack Obama, who owes the IRS $1million? It would seem that one of these three did not have someone to count the deductions or make some charitable contributions or find some major loopholes in advance to spare Tramar Dillard this enormous debt. (Tramar being the given name of the indebted) Mitt Romney and his Bain Capital buddies probably smirk this situation.
It is a clear indication that Flo Rida needs financial guidance. It’s not how much you make, it’s HOW you hide what you make that determines how much you keep. Was there no wise investments to divert that dough to tax free shelters or off shore accounts?.
Big money needs a big mind to manage it. A big head is not the same thing. Who owes the IRS $1 million and is able to pay them? Reports say that Flo Rida had been making regular payments toward this debt from 2009, up until recently. He should do a telethon and let his fans bail him out.
It is incredulous that Flo Rida could rise up from the 187th street projects to such monetary heights and not have a clue. This rapper may have street cred but he needs an education. Is he a candidate for the Suze Orman Money Class?
But, no worries, Flo Rida was voted best selling UK singles artist for 2012. The 'Wild Ones' should make him a couple more millions. His Hits 'Low' and 'Elevator' put him at the top of the charts and now he is at the top of the IRS hit list, too.
His South Florida home, which has a certain Scarface appeal; replete with a security system that cost over $50,000 (the subject of another lawsuit for non payment after services were rendered by ADT ) is reported to be among the assets the IRS has attached.
Will Flo Rida be ruined and have to go back to the 187th street projects? Don’t bet on it.