Nelly's Grillz, a tax deduction! wtf! Options

[illumineering]

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April 11, 2006 — Here's a mouthful: Nelly's bejeweled teeth, the subject of his hit song "Grillz," are a deductible business expense, just as costly get-ups, high-priced conditioning, and plastic surgery for some entertainers, tax experts say.

Show business is, in essence, the business of show, and often, the costly accoutrements needed to maintain that image can be deducted from a tax return.

"I got my mouth lookin' somethin' like a disco ball," Nelly and co-singer Paul Wall rap in their hit single, celebrating their gold, platinum and jewel-encrusted dentures. Wall's oral ornamentation alone, featuring 65 princess-cut diamonds, is valued at $16,000.

"As nasty as that is, those Grillz are part of Nelly's costume. He uses them to promote his song and his stage act, so it's probably a business deduction," says CPA Shannon Nash, author of "For the Love of Money: The 411 to Taking Control of Your Taxes and Building Your Net Worth."



Who's On First? The Tax Man

As tax day approaches each year, taxpayers are often reminded of celebrities who famously ran afoul of the IRS. Willie Nelson was found owing the government $17 million in back taxes, penalties and interest after his tax shelters were disallowed.

The IRS seized Nelson's home and other assets. The country legend, who eventually paid the government back, later joked, "Seventeen million ain't much if you say it fast."

The long list of celebrity tax scofflaws also includes Pete Rose, who served five months in prison after underreporting $355,000 from 1984 to 1987, as well as Chuck Berry, Richard Pryor, and even Abbott and Costello.

In fact, Bud Abbott was forced to sell his 200-acre Encino, Calif., ranch, his wife's furs and jewelry, and was left destitute in 1959, after the IRS demanded $750,000. "The government took it all but the peanuts," he lamented.

Lou Costello, who died that year, had been set to star in a new comedy series, "It Pays to Be Ignorant," and while that wasn't a satire on his financial trouble, he never again had to ask "Who's On First?" On tax day, it's the IRS. Everybody else is on second.

Still, celebrities offer strange challenges for tax specialists, and Nelly's sparkling chompers are just the beginning. The Wolf Files sought the help of experts for the following tax questions:



Q: Can Paris Hilton Deduct Her Lap Dog Expenses?

These days, some celebrity wardrobes are incomplete without a canine accessory. Paris Hilton's most famous Chihuahua, Tinkerbell, might have lost lap time to Bambi, a smaller, more portable pooch. Nevertheless, Tinkerbell is a star in her own right — and might be a business deduction for her master.

Diamond encrusted teeth and dogs are tax deductions?

[*SuzieRawkSoxx*]

That's just f**king R E T A R D E D! i swear people dont know what to come up with next....

Maybe i should buy a "Grill" and make it a tax deductable then claim im in the "entertainment" industry.... FreAking D O U C H E S....

[EddieV]

Just wow...

[ecargnmyst]

haHA ...thats so stupid...there r ppl around the world who dont even HAVE teeth to chew with and they go and waste their money DECORATING their teeth??? argh...ppl who r just sooo rich that they do these silly things just upsets me

[lanbexx]

rofl i laughed really hard when reading this.

its pretty clever by the tax people. why hadnt anyone thought of this before?