While rumors have recently been circulating that Roc-A-Fella co-founder Damon Dash was broke, he appeared on “Sway in the Morning” radio show on Shade 45 to discuss matters for himself.
He reportedly owed $2 million in back taxes and when asked about it he corrected, “I owe way more than $2 million in taxes. That must’ve just been the IRS,” he said, laughing but then admitted, “Nah, nah, I’m f***ed up.”
He also explained, “They’re auditing me. When you’re a business man, you have a lot of businesses, a lot of times they think you’re laundering money or you’re pretending you’re writing things off that you don’t,” he continued. “I’m a true businessman. As you know, I believe in my independence, I have no partners, so every dollar I make goes right back into every business I have.”
He faults the audit as a result of his accountant’s failure to itemize his expenses.
“It’s the price of business; it is what it is,” he explained. “I owe taxes: I got to pay.
Damon Dash is known for being co-founder of Roc-A-Fella Records along with Jay-Z and Kareem “Biggs” Burke. The label is responsible for the careers of Jay-Z, Memphis Bleek, Beanie Sigel and Kanye West.
Watch the full interview below:
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