February 7, 2010

Sinbad Bankruptcy! (NEWS)

Sinbad, the standup comic and actor who used to be on top of the world, has apparently hit hard times as reports come in that he has declared bankruptcy, facing a mountain of debt and tax troubles.

Sinbad, who starred on Star Search long ago before becoming a popualr comedian and tv & movie actor, has been having financial problems for several years now, and they are getting no better it would seem. The latest news has the Attorney General's office ordering him to sell his home so that he can pay up his millions of dollars in tax debt. Sinbad is apparently delinquent in over 8 million dollars in federal taxes, making him the latest of many celebrities to be getting terrible advice from their accountants and tax lawyers, one has to assume. How do you wind up owing that much?

With tax season coming up soon many tax consultants and financial advisers will be offering their wares, so make sure to be careful and choose one that will treat your money right and keep you on the right side of the IRS.

Sinbad Bankruptcy! (NEWS)

Comedian-turned-actor SINBAD ADKINS has been declared bankrupt, according to U.S. reports. The Jingle All The Way star allegedly owes more than $8.15 million (£5.1 million) in delinquent federal taxes. The U.S. Attorney General's office has now ordered him to sell his home to pay the debts, according to The Detroit News Earlier this month (Dec09), a federal judge was asked to foreclose on several tax liens and determine whether or not Adkins was the owner of a $1.5 million (£937,500) home in California - and the star filed for bankruptcy the following day....

Sinbad Bankruptcy! (NEWS)

Posted at February 7, 2010 3:55 AM