January 27, 2012 – 5:46 pm
US Magazine reports that Bruce Jenner and Kris Kardashian don’t mind if their two young daughters Kendall and Kylie Jenner skip college, given the success of the girls’ modeling careers and teen fashion lines. High-visibility careers like modeling might be attractive in the present, but fame can be a fickle thing. Hitting the books is a long-run investment that’s been proven to [...]
January 17, 2012 – 4:01 pm
Image: TaxBrackets.org Lindsay Lohan might have received an “A” for behavior on her recent progress report, but she gets an “F” in financial literacy. The former child-star owes nearly $94,000 in back taxes from 2009. MSNBC reported that on Jan. 5 the Internal Revenue Service filed a notice of a Federal Tax Lien against Lohan. The [...]
September 28, 2011 – 5:40 pm
Broke professional sports stars are nothing new, but ever wonder why athletes — with their outsize salaries — seem so much more prone to bankruptcy than Average Joes? The New York Times took a shot at answering that question in a recent “Your Money” column by interviewing Hall of Fame quarterback Steve Young: Steve Young has [...]
August 26, 2011 – 9:33 am
In our popular Celebrity Financial Mistakes feature, we pointed out Burt Reynolds’s inglorious fiscal past, declaring bankruptcy once before: After a red-hot career in the 1970s, Burt Reynolds bought himself a helicopter, multiple vacation homes, and a sprawling Florida ranch, but his divorce from actress Loni Anderson left him broke (though he got to keep the [...]
News has broken that there will be a 2011 pro football season after all (woohoo!). Under the deal, veteran NFL players will still be paid millions for doing what they do best. However, the ability to earn an outsize paycheck doesn’t mean that all NFL stars are financially secure. The Wall Street Journal reports this [...]
R. Kelly is in trouble again, although at least this time it’s not a big-time felony mess. The Associated Press reports that he hasn’t made a mortgage payment on his Chicago mansion since June 2010, leading JP Morgan Chase to initiate foreclosure proceedings against the R&B singer: Crain’s reports the Olympia Field home’s appraised value fell [...]
Actress and dancer Debbie Reynolds, who’s perhaps best known for starring in Singin’ in the Rain, spent much of her career collecting an estimated 3,500 costumes and thousands more props to create a museum of Hollywood memorabilia. Unfortunately, sinking so much money into her hobby landed her in more than $4 million worth of debt, [...]
The Real Housewives reality-television franchise has spawned more bankruptcy filings than pro sports and celebrity accountant Kenneth Starr combined. We wondered why, so we reviewed the most notorious examples of the “real housewives” living beyond their means. Teresa Giudice is one of the most combative Real Housewives of New Jersey, and with this group, that’s [...]
April 19, 2011 – 12:54 pm
As you undoubtedly already know, the deadline for filing your 2010 taxes was yesterday. But if you’re reality-television rockers Ozzy and Sharon Osbourne, it was also a good day to pay taxes for 2008 and 2009. Better late than never! On April 4, the IRS put liens on the Osbournes’ two Los Angeles-area mansions to [...]
Last October, R&B singer Toni Braxton filed for bankruptcy — for the second time in 12 years. The court determined she owed her creditors — among them Tiffany & Co., Neiman Marcus, and the Four Seasons — between $10 million and $50 million in unpaid debts. Now Braxton has a reality television show ready to [...]
