Forbes Magazine has just published a list of the “5 Richest Women In The U.S.”  There’s no doubting that men often times hog the media headlines in the world of business, but these woman stand tall in their own right.

Forbes has made a tradition of announcing the world’s richest men and women. Compared to last year’s list, not much has changed.

It’s staggering to see the vast fortunes of each woman. It should be noted that most of the money was inherited versus being self-made in business or through investments.

If you look at the list of the wealthiest self-made women, you’d see the likes of Oprah Winfrey, Doris Fisher (Gap), Gayle Cook (Cook Group) and Diane Hendricks (ABC Supply).

It should also be noted that many of the women decided to follow a philanthropic path and often donate their money to various charities.

Below is list of the five richest women in the U.S. –

Christy Walton – ($25.3 billion)
Christy Walton is the widow of John Walton, son of Walmart founder Sam Walton. After John Walton died in a plane crash in 2006, Christy inherited his fortune including enough stock to make more than $220 million in dividends in just six months. With the recent price appreciation of Walmart’s stock, the Walton family’s wealth has continued to grow.

Alice Walton – ($23.3 billion)
Alice Walton is the daughter of Walmart founder Sam Walton and heiress to a portion of the Walton fortune. She recently opened an art museum with art being displayed from the Walton estate. Although she is actively involved in numerous charitable organizations, her reputation has been clouded by a series of DUI arrests.

Jacqueline Mars – ($13.8 billion)
Jacqueline Mars made her money from M&Ms, Snickers, Dog Food and many of the other products we use every day. The Mars company currently has revenue of $30 billion annually and is the world’s largest confectionary company. Jacqueline Mars is the third generation of the Mars family after her grandfather, Frank Mars, founded the company in 1911.

Anne Cox Chambers – ($12.5 billion)
Anne Cox is the daughter of James Cox, the founder of Cox Enterprises. James Cox worked as a school teacher until buying a local newspaper in 1898 which sparked a media business that includes 17 newspapers, 15 TV stations and 86 radio stations.

Abigail Johnson – ($10. 3 billion)
Abigail Johnson’s father, Edward Crosby “Ned” Johnson, controls Fidelity Investments which is the largest mutual fund company in the United States. She is already one of the top executives at the firm, but there is a rumoured succession plan in place. Abigail Johnson began working at Fidelity in 1988 as an analyst and she holds a Master’s in Business Administration from Harvard University.

Term life insurance provides insurance for a specific period of time. Once that time period is up the person being insured can drop the policy or pay annually increasing premiums to extend the coverage.

If the insured should pass away then the beneficiary will receive the death benefit money. In most families the major bread winner will have a term life insurance policy as it can be very damaging to families when the main means of financial support is cut off.

It is always difficult to determine if you should carry term or permanent life insurance. Term life insurance really only offers death benefits such as funeral costs etc, so if you die then it is worth having the policy. If you outlive the policy then it was a waste of money.

Permanent life insurance offers both death benefits as well as something like a “savings account”. So if you die you will get back at least some of the money you put into the policy. If you only want your policy to last 10 years or less then you should go with term life insurance. If your policy is for 20 years or more then permanent is the best, though permanent life insurance is more expensive then term.

Term life insurance is the more affordable way to have death benefits. As with any type of insurance you will make monthly or quarterly payments and as long as you don’t miss a payment you can submit a claim on your policy. Policies can be customized for your particular needs. Currently term life insurance is the simplest form of insurance you can purchase.

You can purchase large amounts of this insurance for a long time at very low prices. If you need to pay off a loan and may have difficulties if a family member dies or if you want to protect your children then term life insurance is an excellent insurance choice. Most states will let you renew your term life insurance until you are 85 or 95 years of age, each state will be different.

The main benefit from term life insurance is that you receive large payouts after a short time period. Having term insurance coverage is great if you are carrying debt as it can cover the debt instead of leaving your debt to your nearest relative. No matter why you have taken out the coverage it is a great way to ensure your loved ones are taken care on if something should happen to you.

If you desire a consultation to discuss your life insurance needs, then contact The Life of Luxury using the below form and we will set-up a consultation with an insurance professional who can provide options for your specific financial situation.

It’s an understatement to say that having some sort of an estate plan can help benefit your heirs and the various causes you support. Passing along your assets is better left to your own wishes and desires than the legal court system.

But rather than tangible assets such as money or possessions, ethical wills bequeath values, beliefs, and ideals to loved ones.

If you want to pass along your personal ideas and values, in addition to a financial inheritance, then you will need to create an ethical will.

An ethical will is a written document that includes instructions for life, morals, values and family stories that one generation hopes to pass on to the next. Ethical Wills are gaining in popularity today as some people want to find a way to leave their loved ones with “values” instead of just “valuables.”

Unlike a last will and trust, ethical wills are not legally binding documents. Ethical wills can come in a variety of forms, from a short letter to a lengthy autobiographical statement, from an audio-recorded message to a bound album.

Some people will choose to share their own ethical wills during life, usually at an important date, such as an anniversary or family milestone like sending children to college or at their own retirement.

Ethical wills have now seemed to have gone mainstream. They are a way to share personal life experiences, lessons and ideals with the people you love. Drafting an ethical will can really help you clarify and articulate what’s important to you, how you want to be remembered and the qualities you hope your family will embody for generations to come.

An important aspect of an ethical will is you are not telling anyone what to do or think, but rather providing your loved ones with a specific reminder of you and your personal beliefs.

An ethical will can also offer practical guidance to your heirs. You can use one to assist your family in understanding how you want them to handle emergencies or any changes in circumstances, such as the need for any special financial or medical assistance.

If an ethical will is right for you, then please take the time and create one. But first , you should make sure that you have an estate plan. If you already have an estate plan, then make sure it is up to date.

Remember, an ethical will is not a legal document and is not enforceable by our legal court system. Therefore, an ethical will can not be used in place of the financial documents detailed in your own estate plan.

This is an opportunity to own a truly unique collection. Thomas Black has put his personal tennis collection – TSB Tennis – up for sale.

Thomas has been collecting tennis memorabilia for over two decades and you’d be hard pressed to locate anyone with more sporting antique knowledge than he does.

This special tennis collection consists of 147 unique tennis racquets, and includes two Thomas Tate racquets. Additional tennis pieces include racquets with fishtails, fantails and bantails. This collection surely tells a story of the development of the tennis racquet through history.

Thomas’ love of collecting began in golf, where he built a substantial collection of memorabilia before it was sold on by Christie’s at Pebble Beach, USA. Next he focused on the sport of tennis and his private tennis collection is completely unique in every sense.

There’s no doubt that the incredible level of quality runs through all of the items. Each hand picked by a man of true knowledge, vision and with an exceptional eye for detail.

It’s definitely one of the most valuable collections anywhere in the world, both in historical and financial terms. I doubt it will ever be matched again due to fact a collection of this size is so rare and the disposable nature of today’s tennis racquets.

Thomas Black was quoted, “In today’s world it would be impossible to accumulate a collection with so much depth and interesting original pieces. It is certainly a complete anthology of tennis.”

The TSB Tennis collection is made of tennis related art, racquets, metal figures, bronzes, some silver items and tennis presses. A number of racquets alone are individually estimated at over £10,000.

It will just as rare to see the collection as less than 30 people will see the TSB Tennis and only one will be able to own the unique and personal story it tells.

The Thomas Black tennis collection has been valued at over £400,000 but, as one of the largest and oldest collections in the world and with the current disposable tennis culture, this collection is priceless for any savvy buyer.

Nobody has to tell us that we’re enduring some very troubling economics times. Instead of complaining, let’s buckle down and learn from what we’re experiencing.

These days, the importance of money is at an all time high. The economic crisis is hitting many of us very hard. So it’s very important that we are prepared for anything that it might bring along with it. Teaching our own children to appreciate money and the value of money is one important way to make the financial crisis a good family bonding experience.

You, of all people, should know how much a budget can make or break your household’s financial balance.

It’s really important for everyone to learn how to budget and not waste their money on useless stuff. By teaching your kids how to better appreciate money, then you are actually helping them become better citizens, better adults in the future.

Saving is a good and simple way to begin your children’s lesson in finances. You have to make sure that you point out all of the benefits that these things do for them like it helps them prepare for something that they might need money for in the future. Whether it be something that they want to buy or some other thing they want to spend their money on, you can actually tell them all of these things to convince them that saving money today is never a bad idea.

You can let them participate when it comes to planning out the household budget as well. This makes them feel more part of the family because it lets them get involved in adult matters. It teaches them responsibility and that there are certain things that need to be prioritized over others. It also shows them that money is not something that they can have whenever they want.

Another great idea is to have them start their own small business. It could be mowing the lawn of the neighborhood, if they’re old enough, or it could be something that they enjoy altogether. For example, joining you in you rown business or store where they can sell some of the products of their hobbies for a price.

If your kids can learn all the good things that money brings, you can also teach them to become more responsible adults in the future. You should be careful never to overindulge as this might bring about a spending spree from your kids which, in light of the recent crises, you surely do not want happening.

Ollia Alexandra Rarisame is a stunningly beautiful, 26-year old Russian socialite and heiress of a Russian oil magnate.

She is the daughter of a prominent Russian businessman, oil-magnate and politician, and loves living a life of luxury.

Ollia can often be spotted at over-the-top, luxurious parties along with Greek and Russian shipping-heirs on St. Tropez Super Yachts. There is one guarantee, she is always “dressed to the nines” and wearing the latest fashion that rivals any celebrity woman today.

With her love for high fashion, Ollia Alexandra Rarisame has worked hard and founded her own fashion label – aptly named “Rarisame”. Ollia’s luxury clothing label is scheduled to launch later this year in the United Kingdom.

For such a young age, you could say that Ollia Rarisame has “lived a lifetime.” Because of her past life experiences, it has molded her into the beautiful, entrepreneur that she is today.

Ollia was born in St. Petersburg in May of 1987. She didn’t live the stereo-typical childhood since her father was a popular political figure. This caused her family to constantly be in the spotlight – not always for the right reasons.

At age eight, her family moved to Ekaterinburg, Russia to be closer to her father’s company headquarters. Due to her father’s political involvement, not only did he receive death threats but sadly Ollia did as well. In addition, her family were also the victims of mob attacks, law enforcement harassment, assassination attempts, and even bomb attacks at the family home. Despite this very disruptive upbringing, it is another factor that drives her strong willed character as an adult.

When asked to describe her chilling childhood, Ollia Rarisame replied, “It was a scary place to be in; I would wake up each morning to go to school, and would be afraid to leave the house till it was made sure that nobody was waiting or hiding nearby, up to this day, when it’s all in the past, I am paranoid about safety, and get scared if I see a man walking behind me on a street, thinking he may have bad intentions.”

Ollia’s family next enrolled her in a nearby, prestigious boarding school to try and shelter her. She states, “I was so young at the time, I didn’t realize the full situation so I was quite excited to move, even though the girls gave me a hard time at school and I was constantly bullied by them, because their boyfriends always stood up for me and always took my side which infuriated the girls even more! I had to grow up fast, I was such a child compared to the others.”

As she grew up, Ollia continued her education at the university level and started to show a strong interest in the fashion industry. She continued perfecting her skills and expanding her love for the business at the London College of Fashion.

During school, Ollia was the resident stylist for her super-rich friends as well as her friends’ mothers. Her designer talent was quite evident as she consulted and provided them expert advice on what to wear and how to wear it. As she gained confidence and the continued approval from her peers, this drove her love of great style and the ambition to create her own luxury, fashion brand label – “Rarisame”.

After finishing her University studies, she was involved in several high profile internships, including: Tatler (featured as a ‘Babe of the Month’), Valentino, Vogue and Bulgari.

Ollia Rarisame currently resides in Belgravia – in central London. With her affluent lifestyle and luxury industry connections, Ollia is known as a Russian multi-millionaire, and is proud to have the very wealthy Abramovich family as her close friends.

In addition to her love for luxury fashion, Ollia keeps busy with many philanthropic ventures including her involvement in both the Serpentine Gallery Patron and Anti-Human Trafficking charities.

Talent, drive and determination will take Ollia Alexandra Rarisame very far in life. Her extraordinary good looks and flare for the “good life” could well make her the next Kim Kardashian, as she’s close to launching her exciting new fashion line: “Rarisame” in the UK.

She has been extremely busy preparing for her brand launch by jetting between Paris, London and New York Fashion weeks. When asked about her exciting future, Ollia concludes, “Rarisame will be a one-way stop for women wanting great designs that complement the female form. Her collection will boast a combination of strong shapes that evoke empowerment and class, but with ultra-modern twists that gives the label its edge. My designs have been created to accentuate the female body in the right places. It is for women who don’t run for trends; instead, understand the importance of clean lines, great fit and modern elegance with an edge.”

Summer is almost upon us and families are already planning or preparing their summer vacation. But just like you, identity thieves are also looking forward to this busy travel period.

It’s no secret, that identity thieves are constantly planning new ways to steal your personal information. Consumers often let their guards down on vacation, putting them at greater risk of identity theft.

Equifax is a global leader in consumer and commercial information solutions and wants to help everybody from being the unfortunate victim of identify theft.

Equifax would like to share the top 10 ways consumers can help protect themselves while traveling any time of the year:

1. Don’t announce your travel plans on social media. This invites identity thieves to target your house while you’re away.
2. Place a hold on your mail. When criminals see an overflowing mailbox, they see an easy way to steal personal information.
3. Go through your wallet and leave at home your library card and other cards with your name on them. Carry only necessities in your wallet when traveling. Tourist areas are hotspots for pickpockets.
4. Set up a travel alert on your credit card accounts, and freeze your credit with the three credit bureaus.
5. Leave your laptop computer at home if you can. If you must travel with a laptop, update your anti-virus and anti-spyware programs. Do not access bank accounts from your laptop while in a hotel room or at a coffee shop or other public location.
6. While staying at a hotel, lock important documents such as your passport in a safe.
7. Use only ATMs located in banks.
8. Protect your smartphone. Create a password for access, and use an application with a GPS locator to find your phone if it is lost or stolen.
9. Don’t put your full name and address on luggage tags. Include just your last name and phone number.
10. Tear up and discard used boarding passes. Many travelers leave boarding passes behind in airplanes or hotels. They often contain full names and other personal information.

In an effort to curb the growing problem of identity theft, be alert at all times and try to stay one step ahead of the crooks.

Trey Loughran is the president of the Personal Solutions unit at Equifax and was quoted, “By developing good identity protection habits at home and on the road, you can reduce your risk of becoming a victim.”

Remember the wise saying ……  an ounce of prevention is worth a pound of cure.  So be prepared and start dreaming about and planning your special vacation getaway!

If you need help making your summer travel plans, please contact The Life of Luxury using the below form:

Photo: Driver’s Selection by Porsche Design

Now available, it’s the gift for that child that has it all – a Porsche Go-Kart !!!

It’s a lightweight pedal-powered go-kart that was designed suitable for drivers of up to 5’2″ and up to 110 pounds.

The target age range is 5-8 years. Just think junior may be driving a luxury Porsche before his parents!

The Porsche Go-Kart is available from Driver’s Selection by Porsche Design, who is the lifestyle
clothing and accessories line of the luxury automaker.

The Porsche Go-Kart is available exclusively through authorized Porsche dealerships and comes with a suggested retail price of $900. It also comes with the following features:

· A sturdy metal frame and pneumatic air filled tires
· Ability to pedal both forward and backwards
· Coaster braking system

To learn more about the Porsche Go-Kart, please visit http://shop3.porsche.com/usa/ or contact The Life of Luxury using the form below:

Sometimes even kings are not immune to the recession and economic hardship. One of the surprising cutbacks is that King Juan Carlos of Spain is relinquishing his approximately, 21 million-euro ($27 million) yacht – tiled “Fortuna.”

As the European country of Spain continues to battle the never-ending recession and record unemployment, hard choices must continue to be made.

The Fortuna yacht is similar to other assets such as the royal palaces, which are owned by the state and managed by the National Heritage for the use of the 75-year-old king and his family.

Fortuna is 41.5-metre (136-foot) in length and was donated back in 2000 by a business group. It’s costly to maintain in addition to taking it out on the Mediterranean. According to the Spanish press, each sailing costs more than 20,000 euros for each refuelling.

Last week, a spokesman for the institution was quoted “The king has taken the decision to ask the National Heritage to proceed with the release of the asset,” said late Thursday.

The next step is the National Heritage board needs to approve the King Juan Carlos yacht’s transfer back to the government. The next choice would be to keep the luxury yacht or to sell Fortuna.

Source: AFP

Photo: CXC Simulations

For avid car lovers, there is no thrill like being on a race track and getting that adrenaline rush. But for most of us, the closest we’ll ever get is watching on TV or attending a live car race event.

Car simulators are a hot trend right now. Based in Los Angeles, CXC Simulations offers state-of-the-art racing simulators for professional racing teams and drivers, and for users who wish to experience the thrill of racing in their own home.

CXC Simulations was approached by Toyota of North Hollywood to retrofit a 2006 Lola Champ Car and used as a racing simulator by people of all sizes and abilities.

The Champ Car simulator had a number of very strict requirements. Even though it needed to end up as a simulator, CXC had to make sure that it could be used as a racecar even after its work was done. The client requested unparalleled realism, easy access in and out of the car, a seat that would accommodate a wide range of body sizes, as well as in-game and on-car branding.

Mobile One Porsche Super Cup and Former IndyCar/Champ Car Driver – Matt Halliday was quoted, “It is pretty amazing what the CXC guys have been able to do with this project and the realistic nature combining the forces and drivability of the real car is very accurate.”

The custom Champ Car simulator features three 55″ LCD screens offer a 180 degree field of view that completely covers the driver’s peripheral vision. A high-powered force feedback system was added to provide drivers with the same experience they would have on the track.

Offering an LED gauge system, custom stairs for easy access, and a custom-made wide seat and headrest covered in leather, this one-of-a-kind simulator is certain to be a success.

To learn more about the production simulators from CXC Simulations, please visit: http://www.cxcsimulations.com/products/motion-pro/

For most of us, the idea of having IRS troubles brings cold sweats and sleepless nights. When we hear celebrities are having tax issues, we stretch our ears, pop popcorn, grab a bottle of something fun and bubbly and say “oooh, what did they do?”

Probably, we enjoy the gossip because we don’t really feel sorry for them.

After all, most celebrities have or will have enough money coming in to eventually pay the fine. Yet some do time. Here’s a list of famous celebrity tangled finances, past and present, as reported by newsworthy sources. Grab that snack and drink.

Kevin Federline – Britney Spears’ baby daddy is apparently in some hot water with the IRS, and it appears that the bill came due on Valentine’s Day. On February 19th, the websitePerezhilton.com<http://perezhilton.com/2013-02-19-kevin-federline-tax-lien#.UUEDABw3uSo> reported that Kevin Federline apparently owes the IRS a whopping $57,000.00 in tax payments for the years 2009 and 2010. Yahoo Entertainment<http://nz.entertainment.yahoo.com/celebrity/news/article/-/16165613/kevin-federline-issued-57-000-tax-bill/> wrote, “A federal tax lien was field against ‘Scream & Shout’ singer’s second husband Kevin Federline on February 14th, claiming he owes $30,517.16 for
outstanding income tax bills from 2009 and $27,098.23 from 2010.” The article further extracts from TMZ.com <http://tmz.com/>, “According to gossip website TMZ.com <http://tmz.com/>, the former back-up dancer’s income came from a small part in straight to DVD movie ‘American Pie: The Book of Love’ and from his stint on the reality series ‘Celebrity Fit Club’ in 2010, as well as his hefty spousal support payments.”

Martha Stewart – Who could forget the white-gloved one behind bars, cutting snowflake shapes out of white prison paper to bedazzle her cell? According to People.com <http://people.com/>, the home and garden guru served five months in prison and five months of home confinement in 2004. The People.com article reads<http://www.people.com/people/article/0,,664728,00.html>, “Stewart, 62, was convicted on March 5 of conspiring with her Merrill Lynch stockbroker, Peter Bacanovic, to deceive authorities probing her December 2001 sale of ImClone Systems stock. Jurors said she lied during two interviews with investigators. Bacanovic also was sentenced to five months in prison and two years’ probation and was fined $4,000. Stewart, wearing a black pantsuit and joined by her daughter Alexis, shed no tears during Friday’s highly emotional hearing, though her voice quivered at times as she spoke to Judge Cedarbaum.” According to the website Legalzoom.com<http://www.legalzoom.com/legal-headlines/celebrity-lawsuits/10-celebrities-convicted-tax>, Stewart was forced to pay $220,000 in back taxes and penalties to the State of New York, “learning the hard way that East Hampton mansions also generate taxes. Her claim that she hardly spent time there didn’t reduce her burden, or appease the state of New York,” the site states.

Sammy Davis Jr. – It was not a sweet surprise for “The Candy Man” when he died in 1990 leaving behind a hefty $5.2 million tax bill. In October 1991, People.com<http://www.people.com/people/archive/article/0,,20111004,00.html> writer John Tayman wrote about the sale of nearly everything Davis Jr. owned to cover this tax bill. The writer states, “During 60 years as an entertainer, he filled nightclubs, concert halls and movie houses. But last Sunday, Sammy Davis Jr., who died a year and a half ago of throat cancer, pulled what may be his final SRO crowd. Some 1,300 people including celebrities, collectors and the merely curious—shouldered into a prestigious Hollywood auction house for the sale of Davis’s memorabilia. Included in the eclectic collection of goods: inscribed photos of Davis pals Elvis Presley (offered at $3,750) and Marilyn Monroe ($5,500); an eight-foot-tall fiberglass statue of a character from The Planet of the Apes ($2,500); and approximately 350 of Davis’s musical arrangements ($10,000). When the gavel came down for the last time, $440,000 worth of trinkets and memories had been sold, every dollar’s worth carefully logged by an agent from the Internal Revenue Service who sat impassively in the front row.”

Wesley Snipes – According to Forbes.com <http://forbes.com/>, American film actor and martial artist, Mr. Snipes is doing time, having recently celebrated his 50th birthday in federal prison. Contributor and attorney Robert W. Wood writes in his Forbes article on Snipes, “In 2008, Snipes was convicted of three misdemeanor counts<http://www.forbes.com/sites/williampbarrett/2011/03/02/jailed-wesley-snipes-appeals-his-tax-convictions-to-the-supremes/> of failing to file tax returns. He reported to prison on December 9, 2010. He was initially sentenced to McKean Federal Correctional Institution<http://www.bop.gov/locations/institutions/mck/index.jsp>, a medium-security prison in northwest Pennsylvania. He is now at the adjacent prison camp, a minimum security Club Fed<http://movies.yahoo.com/blogs/movie-talk/wesley-snipes-turns-50-club-fed-180646061.html>, where he is inmate number 43355-018. According to E! Online<http://www.eonline.com/news/215254/five-things-to-know-about-wesley-snipes-prison-stint>, this federal prison camp houses roughly 290 white-collar inmates. Remember Snipes in “White Men Can’t Jump<http://movies.yahoo.com/movie/white-men-can-t-jump/>“? Perhaps in his new digs Snipes should start shooting a sequel: “White-Collar Men Can’t Jump.” In his immensely successful screen life, Snipes normally cares about film release dates. But his next release date is more important: He’s scheduled for a July 19, 2013 release. That means less than a year to go.”

Stephen Baldwin – On the Piers Morgan show, actor Alec Baldwin commented on his brother Stephen Baldwin’s arrest that it was “all prearranged with the DA for him to go in.” Still, it can’t be fun to be handcuffed for failing to pay your bills to the IRS.  Just this past December, CNN reported that Stephen Baldwin had been taken into custody for his problems with the IRS. “Actor Stephen Baldwin was arrested Thursday on a charge of failing to file New York state personal income tax returns for three years, according to a statement released by the Rockland County district attorney’s office. According to the statement, Baldwin’s alleged tax liability for failure to file in 2008, 2009 and 2010 is more than $350,000, including penalties and interest. The arrest was a result of an investigation conducted by the Rockland County Special Investigations Unit and the New York State Department of Taxation and Finance, the statement said,” the article reads.  Baldwin was arrested but did not serve jail time.

Leona Helmsle – Who can forget that the Queen of Mean spent 16 years in prison over her IRS debacle? In April 2012, New York magazine published an article on famous scandals, noting that “her trial in 1989 for tax evasion was a delicious coda to the decade, offering up the pleasure of watching the Queen of Mean, outrageous, nasty, and entitled, be forced to swap her 10,000-square-foot Park Lane penthouse for a prison cell.” The article further states “Charged with 235 counts of tax evasion, [her husband] Harry, a frail 80-year-old, was found unfit to stand trial, so Leona was left to face her employees’ revenge. The high point: housekeeper Elizabeth Baum’s recounting that Leona told her ‘We don’t pay taxes, only little people pay taxes.’ Fined $7.1 million, Leona served eighteen months in prison and was freed in 1994 (her husband died in 1997).”

Marc Anthony– The ‘I Need to Know’ singer and songwriter was not in tune with the IRS and was reported as having owed more than $3 million in back taxes in 2010. The New York Daily News<http://www.nydailynews.com/entertainment/gossip/lo-hubby-marc-anthony-tune-irs-owes-3-million-article-1.471213> article of December 31, 2010 states “Crooner Marc Anthony is running a more than $3 million IRS tab. Long Island property he owns has been hit with two tax liens worth $3.4 million, documents posted on RadarOnline show.” Examiner.com<http://www.examiner.com/list/celebrity-tax-evaders/marc-anthony>reported that the singer cited bad management as the reason for his debts adding up.

Lionel Richie – “Hello, is it Me You’re Looking For?” The answer to the IRS was “Yes” when Richie was questioned about his tax bill in 2012. According to Todayentertainment.com<http://todayentertainment.today.com/_news/2012/04/13/11184169-irs-lionel-richie-owes-11-million-in-unpaid-taxes?lite>, the music legend owes a whopping $1.1 million in unpaid taxes from 2010. The April 2012 article states, “In addition, Richie has been slapped with a lien, meaning the federal government has the right to seize his assets if he does not pay up in a timely manner.  Fortunately, with new projects in the works it seems the “All Night Long” crooner should be able to scrounge up the cash to put this financial matter behind him.”

By Vladimir Nardin, Opinion-Corp.com <http://opinion-corp.com>