No Mo Money

Recent reports of artists such as Lauryn Hill and Mary J. Blige  among others, being in hock to the IRS or elsewhere prompted New Jersey’s The Record to speculate: Why do so many music people have so much trouble with money?

Hill claimed at her sentencing for tax evasion. “I needed to be able to earn so I could pay my taxes, without compromising the health and welfare of my children, and I was being denied that.” Blige was said to sum up that a reported tax lien of $3.4 million was the result of not having “the right people in the right places doing the right things.”

Bad investments, excessive overspending and failure to monitor who’s handling your money, as in the case of MC Hammer, are other pitfalls to avoid when sudden stardom brings an overwhelming financial windfall.