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Shortly after everyone viewed the secret wedding photos of Swizz and Alicia marrying in Italy, we could barely get out our oohs and ahhhs before tax documents surfaced showing Dean owes $2.4 million in taxes. Accumulating since 2006-2008, the total is part of a larger seven-year debt due to 35 different tax liens from the IRS.
Keys certainly has money of her own -- as does Beatz, who, according to Forbes, made $8 million in 2008 alone -- but what is going on here? Should Alicia have dug a little deeper before walking down the aisle? Maybe money grows on trees in the Dean household, but with more than 30 tax liens, child support and tax debt in the millions, Keys might have benefited from taking a moment to think before walking down the aisle.
"Celebrity or not, when you are preparing to marry someone you should disclose any type of financial obligations that will impact the marriage," Dr. Taffy Wagner, owner of Money Talk Matters and author of 'Debt Dilemma,' told Black Voices. "Just because the person wasn't involved the financial decision at the time, doesn't mean they won't be affected by the financial consequences."
As Swizz is pictured on his honeymoon poppin' and literally showering his friends with bottles of champagne sans his new wife, what does this mean for the expectant mother Alicia?
"Because these are tax liens, Alicia has to be concerned what will happen to her husband. Look what happened to Wesley Snipes," Wagner warned. "The IRS doesn't discriminate based on celebrity. If you owe them money, you owe them money."
Stress will continue to ensue if the reports of the couple searching $14 million dollar homes are true.
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Recording artist John Legend (R) and Christine Teigen attend the Intermix Summer Rooftop concert at Skylight West on August 4, 2010 in New York City.
Lamar Odom and Khloe Kardashian attend Power Balance Goes "All-In For A Cure" at Drai's Hollywood on August 3, 2010 in Hollywood, California.
Actor Terry Crews and Rebecca Crews attend "The Expendables" Los Angeles Premiere at Grauman's Chinese Theatre on August 3, 2010 in Hollywood, California.
Lamar Odom and Khloe Kardashian attend the Casio "Shock the World" event at The Manhattan Center on August 2, 2010 in New York City.
(L-R) The Dream and Christina Millian attend Grey Goose Entertainment And BET's "Rising Icons" at 1OAK on July 27, 2009 in New York City.
Actors Will Smith (L) and wife Jada Pinkett Smith (R) attend "The Karate Kid" film premiere at Le Grand Rex on July 25, 2010 in Paris, France.
Swizz Beatz and Alicia Keys attend the Art For Life East Hampton 11th Annual Benefit at Russell Simmons' East Hampton Estate on July 24, 2010 in East Hampton, New York.
Christine Teigen and John Legend attend the Art For Life East Hampton 11th Annual Benefit hosted by Anthony Anderson at Russell Simmons' East Hampton Estate on July 24, 2010 in East Hampton, New York.
Actor Terry Crews and wife Jessica attend the IGN Celebrates "The Expendables" Comic-Con party held at the Float at the Hard Rock San Diego on July 22, 2010 in San Diego, California.
Actress Gabrielle Union and Basketball Player Dwyane Wade attend Summer Groove All-Star Basketball Game at American Airlines Arena on July 18, 2010 in Miami, Florida.
"If they plan on buying a house together, both of their credit reports will be pulled," Wagner said. "With Swizz's credit being impaired, they would be required to pay higher interest on their home unless everything is put in her name, impacting the dynamic of the relationship. While this is not her debt or her obligation, it will affect what they can do in their household. His decisions in business, from other marriages and in fathering other children, all can put a strain on their marriage."
In order for men/women not to find themselves in a similar situation, Wagner urges couples to "look at your partner's credit report and know about your partner's student loans."
Wagner said that according to research, 20 percent of marriages fail due to financial problems in the first five years of the relationship. To avoid these problems, preparation for your financial future is key.
"We can be in love and not see some things," she said, "but ask yourself: Can you live with someone with financial issues? If you can, make sure the person has a game plan to get out of financial distress so it doesn't fall on your shoulders. If not how will you protect yourself? You prepare for a marriage during your engagement -- and not just the catering and the cake."
Follow writer Shirea L. Carroll on Twitter @InviteOnly
Comments: (67)
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By: Keith on 8/11/2010 2:43PM
Someone should have done a little more research before publishing this article. Swizz Beats has consistently been on the list of the 20 richest African americans according to forbes.In his ten-year career, which began when he was 16, producer and hip-hop musician Swizz Beatz has produced songs that appeared on albums totaling over 80 million copies sold. Before he was 21, he had written more hits than many songwriters produce in a lifetime. He has worked with well-known hip-hop acts such as Mary J. Blige, Nas, Jay-Z, and DMX, and has also released a solo album.I doubt his "Tax Liens" will be a problem for him.
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By: Shaking My Damn Head on 8/11/2010 4:38PM
Well Keith, he needs to use some of the cash he's flashing on Forbes to pay these debts. Being on Forbes list doesnt mean you can afford or are paying your creditors. Being on Forbes list only means that the "corporation" known as Swizz Beats made said amount. Thats not what he takes home. He has to pay a lot of taxes, lawyers, managers, etc... before he gets his cut (net), which may be a tenth to a quarter of the gross earnings. These people he has to pay don't come cheap but are necessary to operating his business. So, don't think the number on the Forbes list is what they are walking away with. Anywhoo, the author of the article stated that Alicia should have looked deeper before walking down the aisle. I say she should have looked deeper before spreading her legs. She is forever tied to him and his 99 problems. SMDH! Ladies, put on your thinking cap before you put on the condem and ask yourself, is this the right move?!
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By: b&b on 8/11/2010 3:13PM
Must be a really old Forbes magazine!
Bad move, they should have waited until he straightened out his financial problems.
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By: topaz on 8/11/2010 3:46PM
well swizz owes irs and different states too coz whatever he makes, its gone. since alicia married him, her income is definetly affected because she makes up the majority of her income to support them. by law , she's responsible to pay child support, taxes etc even though he has money too. just because he was listed in forbes, doesn't mean that they money is legit! record companies and feds gets a huge gap out of him. he needs to pay up and alicia better start taking care of her finances as well look out for her baby too.
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By: M. Alexander on 8/12/2010 7:54AM
He may be one of the richest AA men but he hasn't been paying his taxes so the question becomes if he's so wealthy, why is he not paying his tax !
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By: michelle franklin on 8/12/2010 9:27AM
SHUGGA...USE YOUR BRAIN!!! I DON'T CARE HOW MUCH MONEY WAS REPORTED IN FORBES. IF SWISS HAD ANY GOOD SINCE OR THE MONEY TO PAY THOSE TAXES ,HE SHOULD HAVE GIVEN IT UP AT THE TIME THEY WERE DUE (IF HE WAS AWARE) BECAUSE THE FINES AND PENALTY'S THAT ADD UP ON 2 MIL, WILL SCARE THE HELL OUT OF ANY OTHER HUMAN BEING . BUT A MAN LIKE SWISS,WHOM YOU SAY HAS THE MONEY,IS ALLOWING THOSE FINES TO KEEP CALCULATING TO BIGGER FINES...WHAT SINCE DOES
THAT MAKE...PAY THE MONEY OR DON'T PAY THE MONEY ,MARRY ALECIA AND SHE'LL PAY IT! OOPS THAT'S WHAT HE DID!
BUT THE BOTTOM LINE IS, IF YOU HAVE THE MONEY TO PAY THAT FAKE A*S IRS ,WHO IS REALLY NOT A LEGAL COLLECTION AGENCY,BUT THE GOVERNMENT SOME HOW THINKS WE OWE WHEN WE MAKE MONEY FOR OUR SELVES...JUST PAY THE BAST*RDS AND DO IT QUICKLY!! BECAUSE ITS ALREADY BAD THAT HE HAD TO GIVE THEM SOME OF HIS HARD EARNED MONEY WITH OUT THEM HAVING THE NERVE TO PUT A FINE WITH IT!
ISN'T IT STRANGE HOW WE PAY TAXES AT WORKED THROUGH DEDUCTIONS, AND WHEN YOU GO TO BUY GROCERIES FOR THE MONTH ,IRS IS AT THAT CASH REGISTER,WITH THEIR HAND OUT AGAIN SAYING "GIVE ME MY CUT" THEN YOU GO SHOPPING FOR CLOTHES AND ACCESSORY'S ,AND THE IRS IS THERE TOO! GOT DAMN! DIDN'T I PAY AT THE OFFICE WHEN I PICKED UP THAT CHECK FROM WORK... I COULD HAVE SWORN I SAW STATE AND FEDERAL GET THEIR MONEY OFF THE BACK! THEN I GO TO PAY MY BILLS,PG&E,AND PHONE ,AND LOOK ON THE BILL , AND MORE TAXES LISTED IN LONG LINES! SO AT THE END OF THE DAY, YOU MADE $5,000.00 THEY TOOK OUT 2300.00 IN TAXES FROM DEDUCTIONS AND YOU MIGHT AS WELL SAY YOU WORK FOR THE IRS...IRS IS AMERICAS "PIMP"...?
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By: vdog on 8/12/2010 10:03AM
Yo KEITH. Just because he MADE THE MONEY back in the day doesn't mean he STILL HAS IT. Just ask ANTOINE WALKER and DAMON DASH.
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By: sonya palmer on 8/12/2010 11:09AM
please if he was so good then why the hell did he not pay his taxes. if the irs has 30 liens on his name he can't be all that. plus he has an ex wife child support the list goes on and on. remember the irs doesn't care if you are a celebrity they will take their money and if they have to put your butt in prison.
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By: hypocrites on 8/12/2010 12:16PM
the only thing they should have researched more was their claim that alicia keys is a "graceful and intelligent" HA!
She is a skanky trifling homewrecker, one of the WORST that ever did it because doesn't even feel bad about it. Graceful my big toe Shirea
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By: chris on 8/12/2010 12:45PM
All of that is commendable,but just because he has accomplished so much at a young age doesn't mean that he is good at handling his finances. If you are not his accountant you don't know what's in his bank account. The list of platinum plus artists(black,white and other)and producers who have had or are having money issues is long enough to wrap around the earth. Wesley Snipes,Toni Braxton and the "King of Pop" himself come to mind.
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