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Cage's Business Manager -- Troubled History

10/16/2009 11:55 AM PDT BY TMZ STAFF

Nicolas CageWhy is Nic Cage in such deep trouble??? The person Nic's suing has tried to explain Cage's financial troubles before...

Last year, the IRS put the screws to Cage after they discovered the actor tried to write off $3.3. million in personal expenses as business expenses from 2002 to 2004 -- things like limo rides, meals, gifts and Cage's private jet.

Cage's business manager, Samuel J. Levin tried to explain the situation to Forbes, telling them Nic's tax moves were "customary in the entertainment industry" -- the IRS didn't see it that way.

Ultimately, Uncle Sam forced Cage to hand over $660,000 in back taxes and penalties.

But now, Cage has an even bigger financial mess on his hands -- accusing Levin of being so reckless and incompetent with his money, that he's been forced "down a path of financial ruin."

And this time it's Nic who's doing something "customary in the entertainment industry" -- he's hired power lawyer Marty Singer to sue Levin's pants off.

15 COMMENTS

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1.

o rly    

Look at me, I'm like Simone, I'm so cool!

1831 days ago
2.

o rly    

NOT!!!

1831 days ago
3.

Simone    

Pot, kettle about getting a life, o rly.

1831 days ago
4.

o rly    

I'm Simone, I copy other people's quotes because I lack the "wit" to come up with my own.

1831 days ago
5.

Simone    

LMAO that's rich coming from you, troll. Go join the Kooky club of originality.

1831 days ago
6.

o rly    

Simone, don't get you get it? Trolling is a art.
Kooky is better than you'll ever be.
TMZ hall of famer, you're a TMZ hall of shamer/lamer.

1831 days ago
7.

Simone - number 1    

I think rly and the fake "Simone" are the same person. You both are just the same loser trying to get some attention using my name. I just feel sorry for people like you that stay all day long here pretending to be arguing among yourselves. Ridiculous and pathetic!!!!!!

1831 days ago
8.

o rly    

Simone, I see you used spell check this time; good for you!

1831 days ago
9.

bitzod    

UNDER WATER IS DOA as 10,00 home a day are taking the price is right down.BANKSS&cons infated the prices and goverment got kickbacks.SOS as 1970`s only dhas time baby boomers and populations worldwide are dieing off.Banks can`t carry the NOTES on underwater homes&rentals.Florida`s homes and condo`s are owned by investors and in fact 75% of them are just investors gambles.NIC is just the norm as under water banks call in notes.FOOD&Farms are the backbone of the american markets and FOOD is better than GOLD.The markets in real estate are over old school babyboomers dieinf off and NO GNP`s.NIC will be back in last than a year with his income.

1831 days ago
10.

bka62223    

Nic.. if the legend I've heard is true, there's a couple of points I'd like to make about your bad luck:

Dude... you never shoulda sat on "The Kings" throne... talk about bad mojo!!!

And then to strike a pose on the floor... well that's really, really bad taste & double bad mojo!!!

Never shoulda messed with E.P.!!!!

Sorry, I'm just sayin'...

1831 days ago
11.

donna    

Nic...at the very least check your astrology chart, both natal and progressions, as well as daily. Saturn is afflicted, and leaves us no alternative accept to learn, and evolve. As Capricorns, the challenge is the inertia to overcome these obstacles, as only we can do!!!
Blessings.

1819 days ago

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