Hip Hop Wired is reporting that the rapper Nas is having some serious financial problems. In addition to owing his wife Kelis $44,000 per month in child support, it turns out that the artist also owes the federal government another $2.5 million in taxes. Here are quick thoughts about Nas, love and money:
Nas Photos
NEW YORK - OCTOBER 16: Rapper Nas performs at a concert presented by Heineken Red Star Soul at Gotham Hall on October 16, 2009 in New York City. (Photo by Mike Coppola/Getty Images) *** Local Caption *** Nas
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NEW YORK - OCTOBER 16: Rapper Nas attends a concert presented by Heineken Red Star Soul at Gotham Hall on October 16, 2009 in New York City. (Photo by Mike Coppola/Getty Images) *** Local Caption *** Nas
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NEW YORK - OCTOBER 16: Rapper Nas attends a concert presented by Heineken Red Star Soul at Gotham Hall on October 16, 2009 in New York City. (Photo by Mike Coppola/Getty Images) *** Local Caption *** Nas
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NEW YORK - OCTOBER 16: Rappers Ludacris (L) and Nas perform in a concert presented by Heineken Red Star Soul at Gotham Hall on October 16, 2009 in New York City. (Photo by Mike Coppola/Getty Images) *** Local Caption *** Ludacris;Nas
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NEW YORK - OCTOBER 16: Rappers Ludacris (L) and Nas perform in a concert presented by Heineken Red Star Soul at Gotham Hall on October 16, 2009 in New York City. (Photo by Mike Coppola/Getty Images) *** Local Caption *** Ludacris;Nas
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Queen Latifah and Nas attend the Common & Friends Benefit Concert at the Hollywood Palladium on September 26, 2009 in Hollywood, California. Common & Friends Benefit Concert the Hollywood Palladium Hollywood, CA United States September 26, 2009 Photo by Johnny Nunez/WireImage.com To license this image (58499260), contact WireImage.com
Johnny Nunez/WireImage.com
Queen Latifah and Nas attend the Common & Friends Benefit Concert at the Hollywood Palladium on September 26, 2009 in Hollywood, California. Common & Friends Benefit Concert the Hollywood Palladium Hollywood, CA United States September 26, 2009 Photo by Johnny Nunez/WireImage.com To license this image (58499263), contact WireImage.com
Johnny Nunez/WireImage.com
LONDON - SEPTEMBER 25 : Nas performs at the Orange RocksCorps concert at the Royal Albert Hall on September 25, 2009 in London, England. (Photo by Samir Hussein/Getty Images) *** Local Caption *** Nas
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LONDON - SEPTEMBER 25: Nas performs at the Orange RocksCorps concert at the Royal Albert Hall on September 25, 2009 in London, England. (Photo by Samir Hussein/Getty Images) *** Local Caption *** Nas
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LONDON - SEPTEMBER 25: Nas performs at the Orange RocksCorps concert at the Royal Albert Hall on September 25, 2009 in London, England. (Photo by Samir Hussein/Getty Images) *** Local Caption *** Nas
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1) Nas has a complicated life. His decision to marry the "love of his life" is going to cost him for the rest of his life. The rapper's tax situation could be due to irresponsibility (as appears to be the case with Method Man and Nicolas Cage), or it could simply be a matter of using write-offs that were not allowed by the IRS. We can't assume that Nas' tax trouble automatically makes him into a horrible citizen.
2) He is not as rich as you think. I remember Will Smith once explaining how "a million dollars really isn't that much money." After Uncle Sam takes half, and the agents and attorneys get their cut, you are lucky to have $350,000 left over. Sure, that's plenty of money, but it may not be very much money relative to the cost of living the celebrity lifestyle, and taking care of all the friends and relatives begging you for financial support. Success is a beautiful thing, but the problem is that success draws attention and financial vacuum cleaners who want to suck you dry. So, I am not sure why every artist loves to show the world how rich he is. I'd be quiet about my wealth.
3) Please explain $44,000 per month in child support? Many men who make the kind of money that Nas allegedly makes (reported to be $250,000 per month) are considered to have infinite wealth. The truth, however, is that much of his income as an artist is volatile, uncertain, and likely to go down over time. The idea that he is being asked to pay so much in child support seems to neglect the fact that his resources do not go as far as Kelis and others might be inclined to think. The next time someone wonders why wealthy celebs don't want to get married, they only need to look at the case of Nas and Kelis to find the answer. Love is supposed to be priceless, but child support courts seem to know exactly what that price should be.
When it comes to Nas, Kelis and the IRS, the bottom line is this: Nas needs a financial intervention to help him to realistically manage his financial life. By analyzing his situation and others, we also can learn how our personal decisions in love and life affect our financial situation. The truth is that who you choose to marry and how you manage your relationships plays a huge role in your financial stability. Finally, I am a fan of carefully constructed prenuptial agreements, so that wealth can be shared in such a way that marriage doesn't become financially devastating. They say love and money shouldn't mix, but relationship mistakes should not cost millions.
Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the book, "Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good." To have Dr. Boyce commentary delivered to your email, please click here. 
Comments: (23)
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By: jessup1218 on 10/19/2009 7:22PM
NAS, huh, another rapper in financial trouble, 70 percent of lottery winners file for bankruptcy because success came to quick. Google it. Nas is just one uneducated brother who helped thuggnate a generation of young black boys. Oh, but we still blame George Bush.
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By: IKE BAKER on 10/20/2009 2:14PM
All that rapping about knowledge that nas does, and when it comes down to taking care of his wealth he is clueless. when you have that kind of money you find some one who has their own money. kelis can careless if nas will be broke in about 10years, Its good times for home girl while it last, and of course uncle sam is goint to get his.
Nas next cd title "BROKE N NO JOKE".
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By: Baby ruth on 10/20/2009 10:21PM
Hey sus7637 they put that stuff about nas for people to comment about,if you look below the story it states add a comment. so that gives people the right to make a comment, so why are you taking it personel and attacking people who are doing what aol wants add a comment,Mr baker only gave his opinion, that might line up with what happens to many artist, who dont take care of their finances. Oh by the way you sound like a good christian.
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By: Jim on 10/21/2009 11:24AM
O'Reilly sicking his dogs on Nas
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By: bruce B Mc Leod III ESq on 10/21/2009 1:05PM
Hey it not what you make, it is what you get to keep all the child support well.... I am a Tax attorney NAS bro,, give me a call contact my websit
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By: howest2008 keith on 10/22/2009 7:11PM
The Freshman Class of (Engaged Rapper 101)Should be
just like him signing a Recording Contract , make
sure that his spouse sign a (Just In Case We Get
Divorced Contract)...
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By: SMH on 10/21/2009 3:53PM
Where exactly did he see a pretty face?He damn sure didn`t see a pretty face on Kelis?
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By: Andre on 10/21/2009 5:08PM
Kelis is a cute chick. She not a ten but she easy on the eyes. Depends on your taste. I'd take her home one night if I had the chance.
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By: James Earl on 10/21/2009 6:56PM
Nas's divorce reminds me alot of REDD FOXX"S IRS and Divorce situation,how do these court's think that a Rapper(man)can pay all that money to the IRS,lawery's,child support,and agent's,and still keep living any kind of life style.The IRS came into(REDD FOXX'S) home and took every thing he worked for.In the end this killed his health.NAS hold your head.
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By: smdhatyou on 10/21/2009 8:54PM
damn.. it'd be cheaper to kill her. what the hell is kelis going to do for nas' kid that costs $44,000. and women wonder why we run trains on em and don't wanna settle down. when we try to be family men and do the right thing, they try to put their fist wrist and entire arm up our a$$e$. Nas, a bt of advice. for 528000 a year... you can find a damn good sniper. best of luck to you and that money grubbin whore u chose to impregnate. you were better off with the hoe jay-z banged in your bentley. at least she didn't cost as much and was wayyyyyyy prettier. in the end, they're both whores who banged for cash. not much dfference in the 2 from what i see = /
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