It seems as if not even Hollywood is exempt from the fact that life has a tendency to come full circle. Nicolas Cage saw his finances crumble this year, leaving the actor currently facing a tax bill of over $5 million. While Cage is in the process of suing his former financial advisor for mismanaging his funds, it looks like his dire financial straits may be temporarily fixed, and by none other than fellow A-lister Johnny Depp.
In a true “that’s what friends are for” move, the Public Enemies star has reportedly called his old friend to let him know that he will front “whatever he needs” to get him out of this crisis. Depp is generous in his financial and emotional support, possibly seeing the move as a way to pay Cage back for launching Depp’s stellar career: It was Nic who arranged for Depp, then an unknown musician, to meet with his agent, which led him to A Nightmare on Elm Street.
The problem is that whatever he gives him is taxable income; however the tax on 5 million is better than A tax of 5 million.
am S U R E that the accountants will work it all out so that this appears to be a loan NOT a gift. Ergo, if you borrow money from the bank that is NOT considered taxable income. Besides, the point, Johnny Depp, obviously is a good person. How rare in the Hollywood scene for not only emotional support but financial.
It’s nothing that amazing really, I have often helped friends out financially when they are in trouble and i’m sure you have too, ok we aren’t talking the same scale of money here.
I also have to add that none of this is anyone’s business, it annoys me to think that this is becoming public knowledge when really, it should just be between them.
I’m sure the homeless will be relieved to hear that thanks to Depps millions they wont be stuck with Cage sleeping amongst them lols.
Notice how this “bailout” mirrors that of the federal governments bailout of wall street and the banks.Don’t go say Depp has a big heart!
He’s only looking out after his own!
depp may be doing it for publicity (which i doubt), however it’s still nice. Plus, can’t say that it’s no big deal. We r talking millions of dollars here, people.
It’s not taxable income to Mr. Cage. It’s just a gift, which is not taxable to the recipient.
While the band’s been known to perform without a member before, a Harry-less 1D is apparently not an option
You find decent human beings in the strangest places. Personal Honour may not be dead after all.
Johnny Depp’s generousity to his fellow actor and friend is not surprising. Everything about him is personable and likeable. His work ethtic is immeasurable and his obvious appreciation for his friends and loved ones is inspiring for all of us to follow. I have always been a huge fan and like the fact that he does life and work ”his way” with only the best of intensions and with the deepest of convictions. I have never written a comment on anyone before, but this is one man whose talents and charm and desire to do all his work the very best that can be cannot be extolled enough. He is just a really great guy!!!!!!!!!!!!!. Sincerely, Bet Broughton