Re:Inside the Secretive World of Tax-Avoidance Experts (2015)
by lordnacho on Monday October 08, 2018 @08:30AM
(#18166805)
So I think they were related, due to there being some law about writing off artistic ventures. Unfortunately I don't really understand the details.
The idea was for people to spend at least a couple of hours a week listening to and commenting on the music of P Diddy. I'm not sure how it connected legally on his side of the deal, but I also got this feeling that my musical input would not have a great impact on the artistic vision of Mr Diddy.
The poetry one was some guys who somehow found out that you could publish a book of crap poetry and write it off as a loss. Some spidery network of entities would in effect use this to reduce your taxes by a lot.
I know of people who've had the court rule against them, and they ended up in massive trouble.
The idea was for people to spend at least a couple of hours a week listening to and commenting on the music of P Diddy. I'm not sure how it connected legally on his side of the deal, but I also got this feeling that my musical input would not have a great impact on the artistic vision of Mr Diddy.
The poetry one was some guys who somehow found out that you could publish a book of crap poetry and write it off as a loss. Some spidery network of entities would in effect use this to reduce your taxes by a lot.
I know of people who've had the court rule against them, and they ended up in massive trouble.