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Thread started 11/12/21 8:24pm

luv4u

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The Estate Discussion (Court stuff) - Continues Here .........

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Continue discussion here--------------------------------------

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Click on the link to sign up for updates or to view court documents. - luv4u

Link to court documents: http://www.mncourts.gov/I...elson.aspx

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Edmonton, AB - canada
Mod Goddess of the SNIP & BAN Making Moves - OF4S
Ohh purple joy oh purple bliss oh purple rapture!
REAL MUSIC by REAL MUSICIANS - Prince
"I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben
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Reply #1 posted 11/12/21 8:28pm

luv4u

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Pop Star Prince’s Estate Fight With IRS Set for March Trial



Nov. 5, 2021, 12:40 PM
Source: Aysha Bagchi
Reporter

A trial in the Prince estate’s tax battle with the IRS is set to start on March 21, 2022.


The musical star’s estate originally told the IRS it was worth about $82 million, but the agency has pegged the real figure at about $163 million. A major area of dispute for the parties is how much Prince’s music rights were worth at the time of his death.




https://news.bloombergtax.com/daily-tax-report/pop-star-princes-estate-tax-case-scheduled-for-march-trial?fbclid=IwAR3An0FWIaL1KRKKf-JhE7NrT-HORKJ0p4SF99JmP4sWqa4MtkX4IM9QELI

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Here we go neutral

Edmonton, AB - canada
Mod Goddess of the SNIP & BAN Making Moves - OF4S
Ohh purple joy oh purple bliss oh purple rapture!
REAL MUSIC by REAL MUSICIANS - Prince
"I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben
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Reply #2 posted 11/13/21 5:49am

FrankieCoco1

I think they really need to take account of sales figures in 2015 rather than what’s gone on since his death. For example, HitNRun 2 only sold 2000 in its first week of release. It’s only with investment in remastering and a little bit more promotional thought (podcasts, posts in social media, releasing sought after limited editions), that’s sales since 2016 of Prince music appear to have gone up. Perhaps Rodserling can advise about the state of sales in 2015, but I’d think Prince wasn’t making much money on sales of product. May be ticket sales for concerts, but that stopped at the point of his passing.
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Reply #3 posted 11/14/21 11:38am

laytonian

FrankieCoco1 said:

I think they really need to take account of sales figures in 2015 rather than what’s gone on since his death. For example, HitNRun 2 only sold 2000 in its first week of release. It’s only with investment in remastering and a little bit more promotional thought (podcasts, posts in social media, releasing sought after limited editions), that’s sales since 2016 of Prince music appear to have gone up. Perhaps Rodserling can advise about the state of sales in 2015, but I’d think Prince wasn’t making much money on sales of product. May be ticket sales for concerts, but that stopped at the point of his passing.


Although H&R2 only sold 2,000 copies its first week, that was enough to place it at #23 on the R&B charts -- and with little promotion.

His main income, past the Purple Rain era, was from concerts. Even in the last few years of his life, he was making millions from concerts. Coachella was supposedly $5 million. The Dec 2015 concert at St Bart's was well over a million for that one private concert.

Welcome to "the org", laytonian… come bathe with me.
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Reply #4 posted 11/16/21 7:05am

udo

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laytonian said:


His main income, past the Purple Rain era, was from concerts. Even in the last few years of his life, he was making millions from concerts. Coachella was supposedly $5 million. The Dec 2015 concert at St Bart's was well over a million for that one private concert.

.

I.e.: the estate is lsoing money big time now.

Pills and thrills and daffodils will kill... If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
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Reply #5 posted 11/16/21 10:45am

FrankieCoco1

udo said:



laytonian said:




His main income, past the Purple Rain era, was from concerts. Even in the last few years of his life, he was making millions from concerts. Coachella was supposedly $5 million. The Dec 2015 concert at St Bart's was well over a million for that one private concert.



.


I.e.: the estate is lsoing money big time now.



I think the IRS are vastly over-rating the value, and even the estate might be. It’s like trying to value a palace that is in state of dis-repair. Meanwhile the lawyers on both sides will be coining it in.
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Reply #6 posted 11/18/21 4:30pm

nelcp777

FrankieCoco1 said:

udo said:

.

I.e.: the estate is lsoing money big time now.

I think the IRS are vastly over-rating the value, and even the estate might be. It’s like trying to value a palace that is in state of dis-repair. Meanwhile the lawyers on both sides will be coining it in.

It is all about the money sadly.

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Reply #7 posted 11/24/21 3:23am

Vannormal

udo said:

laytonian said:


His main income, past the Purple Rain era, was from concerts. Even in the last few years of his life, he was making millions from concerts. Coachella was supposedly $5 million. The Dec 2015 concert at St Bart's was well over a million for that one private concert.

.

I.e.: the estate is lsoing money big time now.

How do you know that ?

"The whole problem with the world is that fools and fanatics are always so certain of themselves.
And wiser people so full of doubts"
(Bertrand Russsell 1872-1972)
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Reply #8 posted 11/25/21 7:58am

udo

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Vannormal said:

udo said:

.

I.e.: the estate is lsoing money big time now.

How do you know that ?

.

Did you ever investigate how much the leaches charge for all of ther 'services'?

How long this things lasts?

Pills and thrills and daffodils will kill... If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
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Reply #9 posted 11/26/21 2:20am

Vannormal

udo said:

Vannormal said:

How do you know that ?

.

Did you ever investigate how much the leaches charge for all of ther 'services'?

How long this things lasts?

I really have no idea how it even works, so certainly not an expert in that field.

If you are, please explain us,

and how long 'things will/might last'.

"The whole problem with the world is that fools and fanatics are always so certain of themselves.
And wiser people so full of doubts"
(Bertrand Russsell 1872-1972)
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Reply #10 posted 11/26/21 3:11am

udo

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Vannormal said:

udo said:

.

Did you ever investigate how much the leaches charge for all of ther 'services'?

How long this things lasts?

I really have no idea how it even works, so certainly not an expert in that field.

If you are, please explain us,

and how long 'things will/might last'.

.

I never claim to be an expert.

Simply rea the stuff at https://www.mncourts.gov/...elson.aspx

Once in a whil you will see discussions about stuff to be paid, complete with invoices (redacted), etc.

Then you get an idea how much they burn.

Then I think of when Prince was alive and that money wasn't burned but he failed to pay some taxes.

Pills and thrills and daffodils will kill... If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
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Reply #11 posted 11/26/21 4:54am

Vannormal

Well, at some point he asked $1 milion for a concert,

even asked $5 milion for another concert from what I read.

He performed regularly, did regular tours etc.

Prince surely wasn't poor, but apparently had diffculties managing his very exquisite life style.

"The whole problem with the world is that fools and fanatics are always so certain of themselves.
And wiser people so full of doubts"
(Bertrand Russsell 1872-1972)
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Reply #12 posted 11/26/21 6:23am

udo

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The invoices are in the range of a few 100K each and up...

I did not do a totalization but was slightly flabbergasted but also not about the obscene sums of currency they demand for 'services'.

Pills and thrills and daffodils will kill... If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
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