*You thought you had it bad. Damon Dash is in some deep debt. On the “Sway in the Morning” show on Shade 45, the rapper revealed that his troubles with the IRS exceeded the original $2million it was thought that he owed.
“I owe way more than $2 million in taxes. That must’ve just been the IRS,” Dash said, laughing, before admitting that he was in a bad space financially. “Nah, nah, I’m f—ed up.”
Dash and his former partners Jay-Z and Kareem “Biggs” Burke founded Roc-A-Fella Records and released a few singles. As the company grew, Jay-Z eventually left the trio because he basically outgrew his home.
But that left Dash and friends out in the cold. So he started other business ventures, but eventually ran into some tax issues.
“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.”
He claims that the audit is due to his accountant’s failure to itemize his expenses. Now that things are in motion, he can’t make any real big moves. Instead, he’ll be waiting for what he thinks will be a long process to be over.
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