Nicolas Cage Settles $6 Million Debt
Posted by Andru Edwards Categories: Movies, Legal Issues,
Nicolas Cage has settled $6 million of his tax debt. The Ghost Rider: Spirit of Vengeance actor has cleared almost half of the $13.3 million debt he owes for taxes in 2002 to 2004 and 2007 after he paid off $6,257,005.
Nicolas has blamed his former business manager Sam Levin for his problems, though he has countered this, claiming actor was overspending. "Over the course of my career I have paid at least $70 million in taxes. Unfortunately, due to a recent legal situation, another approximate $14 million is owed to the Internal Revenue Service (IRS), however, I am under new business management and am happy to say that I am current for 2009. All taxes will be paid including any to be determined state taxes," he said in 2010.
The 48-year-old actor's spending is legendary, and Sam has claimed that by 2008 the star owned "15 palatial homes around the world, four yachts, a Gulfstream jet and millions of dollars in jewelry and art."
Nicolas was forced to sell off many of his assets, including properties in California, Las Vegas and New Orleans as well as a British castle, yachts and a 67-million-year-old dinosaur skull worth $276,000.
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Nicolas Cage Countersued By Business Manager
Posted by K.C. Morgan Categories: Movies, Legal Issues, Rumors, Where Are They Now?,
Movie star Nicolas Cage recently admitted to having some serious financial troubles, suing his business manager because of his missing funds. But the manager - Samuel Levin, CPA - has filed a countersuit against the actor.
Levin said that Cage “had already squandered tens of millions of dollars,” when he was hired, and that the National Treasure star owed “millions” in “income taxes, with no funds available to pay the tax debt.”
The countersuit claims that Levin told Cage he needed to make at least $30 million per year to continue living in his usual manner. Levin says that in 2007 alone, the actor purchased three homes for the sum of $33 million and twenty-two cars (nine of which were made by Rolls Royce), among other extravagant purchases.
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| TMZ