Some of band’s corporations suspended and its manager sued for failure to file tax returns

I’ve got a feeling…..that this is another case of a “business manager” that doesn’t know what he is doing.

The Peas’ business manager says that his failure to file taxes for the band was “inadvertent.”  What?

Ok, let’s put it like this.  There is a place for a business manager in sports and entertainment.  I work with a number or pro athletes and entertainers, but since I am their financial advisor, I don’t promote concerts, book tours, or handle marketing deals.  A business manager can do that.  But when it comes to important financial issues such as taxes, investments, retirement or estate planning, there needs to be a professional involved that focuses on those important issues.  What good is it to make a client money on a marketing deal, only to have it reduced by penalties and other fees for not paying the proper taxes.

They come to Pittsburgh in March.  Perhaps I’ll show them how a real financial advisor takes care of his clients.