It wasn’t too long ago that Nicolas Cage, the National Treasure star, put a few of his houses up for sale in efforts to pay back some of the $6.3 million he owed the government in unpaid back taxes.
But as his homes sit unsold, the IRS filed another tax lien on the actor whose government tab now totals $6,617,550.84. Failing to pay your taxes for multiple years is never a good idea. This kind of balance due makes Pam Anderson’s $1.1 million debt look a little less daunting.
Not to mention from 2002-04 Cage improperly deducted things like limo rides, meals and gifts from his tax return to the tune of $3.3 million.
There are a few financial lessons we can take from this kind of celebrity mishap:
- Always pay your taxes.
- Have someone else look over your return to make sure it has been completed properly.
- Just because you’re rich and famous doesn’t mean you can get away with poor money management.
I’m not sure searching for actual treasure will help Mr. Cage out, but perhaps he should seek out a financial advisor to help get him back on track.
