Katie Price Archives - Ira SmithTrustee & Receiver Inc.

Income tax debt relief: Introduction

As 2018 draws to a close, I want to wish all of our readers a very happy, healthy and prosperous New Year. I hope that 2019 will be a great year for all of us. You have no doubt been bombarded so far with emails, articles, and programs on getting income tax debt relief for 2018 by making sure that you have taken advantage of all possible deductions before the year ends tonight. I thought I would take a slightly different approach to talk about another rich and famous person who is in hot water with the IRS.

Income tax debt relief: Even the rich and famous have income tax debt problems

We have previously written about rich and famous people who have debt problems and who have filed for bankruptcy. Their debt problems arose mainly out of irresponsible spending, financial mismanagement and income tax problems. These blogs were written to show you that it is not only ordinary people who run into trouble. People who many would think to have “all the money in the world” can also have financial problems. Financial mismanagement is not only an illness of the poor or middle class. It can strike anywhere or anyone.

Income tax debt relief: Some of our past rich and famous financial disaster blogs

Our previous financial mismanagement of the rich and famous includes:

FAMOUS CELEBRITY BANKRUPTCIES HAPPEN TOO

In this blog, I pointed out that many rich and famous people have gone bankrupt, including:

Samuel Clemens (Mark Twain)
Michael Jackson
Abraham Lincoln
Dorothy Hamill – Gold Medal Skater
Johnny Unitas – Football Hall of Fame
Milton Hershey – Founder Hershey’s
H.J. Heinz – Founder Heinz
Marvin Gaye
Mick Fleetwood – Fleetwood Mac
Walt Disney
Larry King
Burt Reynolds
PT Barnum
Tom Petty
David Cassidy
David Crosby
Ed McMahon
Henry Ford
M.C. Hammer
Toni Braxton
Natalie Cole
Robin Williams
78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce within two years of retirement.
The National Endowment for Financial Education says that 70% of all people who suddenly receive large amounts of money will lose it within a few years.

FORMER PRO ATHLETES WHO ARE BROKE: EARN OVER $400 MILLION & GO BANKRUPT?

In this blog, I talked about former pro athletes who are broke. Former NBA star and broadcaster Charles Barkley estimates that 60% – 70% of professional athletes go broke for all or any of the following reasons:

Buying lavish gifts and giving money to family and friends
Unsupportable lifestyles
Mansions around the world
Yachts
Exotic cars
Bad business ventures
Bad money managers
Not understanding financial matters
Zero savings
No rainy day fund
No retirement plan

DEBT FORGIVENESS CRA: CANADA REVENUE AGENCY BEATS DONOVAN BAILEY

In this blog, I wrote about Canadian Olympian. Donovan Bailey and his income tax debt problems with Canada Revenue Agency (CRA). We also described his income tax debt relief settlement plan to cut his income tax debt.. It seems that Mr. Bailey was not able to outrun CRA. Therefore he needed a formal debt settlement plan.

DEBT SETTLEMENT VS CONSUMER PROPOSAL CANADA: ENGLISH REALITY TV STAR KATIE PRICE NEEDS

This blog was about UK celebrity Katie Price who had many financial problems. I spoke about her financial issues and her UK bankruptcy proceedings.

Income tax debt relief: Dionne Warwick

Grammy Award-winning vocalist Dionne Warwick has filed for bankruptcy because she was in need of income tax debt relief. The 72-year-old vocalist, well-known for hits such as “Do You Know the Way to San Jose” and “That’s What Friends Are For” submitted the bankruptcy documents in New Jersey, where she lives.

She listed assets of $25,500 and liabilities of greater than $10.7 million in her bankruptcy filing. Her largest debt is income tax debt of near $7 million owed in back tax obligations to the Internal Revenue Service (IRS) as well as greater than $3 million in tax obligations to the state of California. This includes interest and penalties.

She declared her present income as $20,950 a month, with monthly expenditures just $10 less than that. Dionne Warwick’s press agent, Kevin Sasaki, claimed that the vocalist’s personal bankruptcy was primarily the outcome of “irresponsible and gross financial mismanagement” in the late 1980s to the mid-1990s.

Income tax debt relief: Start 2019 off the right way

No one likes to pay taxes, but everyone hates having CRA tax debt problems. Do you require CRA debt forgiveness? If you’re considering bankruptcy because of income tax debt, or for any reason. We can show you bankruptcy alternatives to get CRA debt forgiveness. We can end your debt pain through a consumer proposal, debt consolidation, and credit counselling. Contact a professional that you can trust – Ira Smith Trustee & Receiver Inc.

The Ira Smith Team has decades and generations of experience dealing with diverse issues and complex files, including negotiating with CRA. We deliver the highest quality of professional service. Don’t settle for less. Give us a call today and Starting Over, Starting Now you can overcome your financial difficulties.

Again I wish all of you a healthy, happy and prosperous New Year.

Debt settlement vs consumer proposal Canada: Introduction

This debt settlement vs consumer proposal Canada Brandon’s Blog is to tell you a story how a once very rich person can run into debt troubles. If you want specific information about the difference between debt settlement and consumer proposal, read our blog “DEBT SETTLEMENT OR CONSUMER PROPOSAL CANADA: NEW CANADIAN GOVERNMENT REPORT EXPOSES DEBT SETTLEMENT COMPANIES HARMING CONSUMERS” published May 3, 2017. You may also wish to read our blog “FAMOUS CELEBRITY BANKRUPTCIES HAPPEN TOO”. Katie Price certainly fits into that crowd.

To find out more about how a consumer proposal works, you can also use the search function in our Brandon’s Blog site for any of the following phrases:

is consumer proposal worth it
consumer proposals faq
disadvantages of consumer proposal
consumer proposal vs credit counselling
how much does a consumer proposal cost
consumer proposal pros and cons
what happens after a consumer proposal

This will bring up more of our blogs on this topic.

Debt settlement vs consumer proposal Canada: The Katie Price Story

English former beauty model, reality TV star, and businesswoman, Katie Price, was a self-made success that had scooped ₤45 million after years of brilliant business transactions and plain old hard work. Unfortunately, the former glamour model will not have the ability to delight in the fruits of her work. It is said Katie is on the brink of bankruptcy having spent all her fortune.

Debt settlement vs consumer proposal Canada: Working for a pair of “knickers”

Things seem to be so bad the for the reality TV star mom. She once was paid for a social media post with one pair of slacks. Her ₤2 million Sussex estate has fallen under a state of disrepair. The swimming pool is dirty, yards are thick with growth and the tennis courts are abandoned. Katie, 40, has additionally begun marketing her horses and llamas. The ₤77,000 Audi she purchased for separated hubby Kieran Hayler for his 30th birthday celebration is also for sale.

The modelling jobs have dried up and last month she even admitted staging lewd images in Thailand with toyboy Kris Boyson. She was spotted mowing her own lawn amid claims she’s started laying off staff to stay in the black.

Debt settlement vs consumer proposal Canada: How Katie Price spent her money

Taking to Instagram, she also admitted the bailiffs had visited her house to demand £3,000 for an electricity bill. But what has the mother-of-five spent all her money on? On top of that, she’s said to have spent £120,000 on housekeepers, gardeners, and nannies – one of whom Kieran claimed to have had a year-long affair with.

Katie Price was also visited by bailiffs demanding the £3,000 she failed to pay an electrician. Her monthly heating bill apparently comes to £2,000 because she keeps it on 24-7, and her other monthly outgoings include £1,500 for twice-weekly manicures and pedicures, £1,000 on getting her hair done, £800 on massages every other day, £800 on a makeup artist, £400.

And that’s not to mention the apparent £60,000 a year she’s forking out on farm machinery such as a tractor and milking machine. She also spends on a £25,000 annual cosmetic budget.

Last Christmas she confessed ₤2,000 spent on decorations. She feared it may be her terminally ill mother Amy’s last one.

Debt settlement vs consumer proposal Canada: How Katie Price is now earning money

And while back then she generated millions from her scents, publications, reality TV show as well as x-rated shoots, nowadays her only source of work seems to be her program, My Crazy Life Now. She is determined to make back some money. Katie claimed to be intending to revive her beauty version alter ego Jordan. She also plans a release of a variety of sex playthings.

One source was quoted as saying “Katie told me when all else fails sex sells”. “It’s the way she’s taking things – she’s bringing back Jordan to fix her finances. She said that it was a no-brainer to go back to her old image.”

Debt settlement vs consumer proposal Canada: Are you in need of debt settlement?

If you’re thinking about debt settlement or a consumer proposal or are looking for ways to end your financial debt call Ira Smith Trustee & Receiver Inc. We understand the stress and pain your financial problems are causing you. We feel your pain and we can end it for you.

Our strategy for every single person is to develop a result we’re Starting Over, Starting Now comes true, starting the minute you walk through our door. You’re just one call away from taking the necessary actions to get you your debt settlement and back on the road to leading a healthy and stress-free life.