How Yo Gotti Almost Lost EVERYTHING to the IRS

Summary

Podcast Summary: Earn Your Leisure

Episode Title: How Yo Gotti Almost Lost EVERYTHING to the IRS
Release Date: March 16, 2026
Hosts: Rashad Bilal & Troy Millings
Guest: Yo Gotti
Podcast Network: iHeartPodcasts

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Overview

This episode dives deep into the financial missteps and hard-learned lessons of rapper and entrepreneur Yo Gotti, particularly focusing on how a lack of financial education about taxes nearly cost him his real estate empire. The conversation unpacks systemic gaps in financial literacy, the importance of proper advisory teams, and how Yo Gotti’s experience now shapes the way he educates and mentors the artists he works with.

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Key Discussion Points & Insights

1. Lack of Financial Education and Early Tax Issues

• Lack of Tax Knowledge: Yo Gotti reveals that, growing up, the only understanding he had of taxes was tied to annual tax refunds and celebrations, not the obligation to pay taxes on income or properties.
• Notable Quote:

  “When we heard of taxes, my mom and them got tax money. That’s when we got new Jordans, we got new outfits… so I didn’t know even in my earliest stages of getting money, I didn’t know we had to pay.” — Yo Gotti ([03:43]–[04:35])

2. The Real Estate Tax Wake-Up Call

• Property Taxes Forgotten: Despite purchasing 10–15 homes outright, Yo Gotti neglected to pay property taxes because no one taught him about them—not his family, school, banker, or early business team.
• Learning the Hard Way: He received a severe letter threatening property seizure for unpaid real estate taxes, prompting him to seek legal help.
• Notable Quote:

  “Keep in mind at this time, Brian, I got 10, 15 houses I done paid cash for that I didn’t have for four, five years that I never paid property taxes on because I didn’t know.” — Yo Gotti ([04:56]–[05:38])

• Quick Resolution: Yo Gotti was able to cover the overdue taxes because he had money saved, but he recognizes this isn’t the norm for most people.

3. The Power and Necessity of Financial Team Building

• Building a Proper Team: After this scare, Gotti learned the importance of assembling a professional team—a tax lawyer and CPA—to set things right.
• Mentoring Emerging Artists: Gotti insists every new artist he works with is strongly advised to hire a CPA and understand their tax obligations from day one.
• Notable Quote:

  “I’m giving you the information, like, ‘Yo, you need this, you need this, and this is why.’ And I'm giving them the example — the same thing I just told y’all, man. This is what happened to me.” — Yo Gotti ([07:12]–[07:19])

4. Industry-Wide Implications & Solutions

• Systemic Problem: The conversation acknowledges that this issue isn’t unique to Gotti or just hip-hop artists. The lack of fundamental financial education spans communities and professions.
• Mentoring Models: Discussion about the NBA and NFL's rookie symposiums inspires talk of developing a similar mandatory orientation for artists receiving record deals, providing financial boot camps.
• Contracts and Accountability: Gotti considers making CPA engagement a contractual requirement for working relationships, citing other managers who have adopted this for transparency.
• Notable Quote:

  “That’s something I actually may start implicating in my contracts… we already paid for the mistakes, so we gonna try to bypass you past those mistakes.” — Yo Gotti ([08:27]–[09:30])

5. The Call for Financial Curriculum in Schools

• Beyond Artists: Gotti and the hosts stress that smart, high-achieving individuals are also vulnerable to these gaps—he was an “A” student but still uninformed about taxes.
• Education as a Solution: Rashad mentions their ongoing efforts to integrate financial literacy into NYC’s school curriculum, with the hope of expanding nationwide.
• Notable Quote:

  “I made A’s in school, you know what I’m saying? And I didn’t know about it.” — Yo Gotti ([09:57]–[10:11])

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Memorable Moments & Notable Quotes

• On Growing Up and Financial Illiteracy:

  “Waiting on tax time, that was better than Christmas.” — Yo Gotti ([04:10])

• On Property Tax Shocker:

  “It just so happened that I get a letter in the mail telling me that they're gonna seize the properties if I don't pay these property taxes.” — Yo Gotti ([05:39]–[05:56])

• On Mentoring and Transparency:

  “I want to see our family do it the right way. So I do think if they was putting it in the record labels a part of the structures or in the schools again…” — Yo Gotti ([09:41])

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Timestamps for Major Segments

• [03:35] — Introduction of the topic: lack of financial education and IRS issues
• [04:30] — Yo Gotti’s background with money and misunderstanding of taxes
• [05:00] — The revelation about unpaid property taxes
• [06:20] — Getting professional help: engaging a CPA and tax lawyer
• [07:00] — How Gotti now teaches and advises new artists about finances
• [08:05] — Proposed solutions: rookie symposium concept for artists
• [08:27] — Considering contractual requirements for financial team engagement
• [09:41] — The broader call for schools and labels to provide financial education
• [09:57] — Discussion on integrating financial literacy into school curriculum

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Conclusion

This candid episode is both a cautionary tale and a call to action: Yo Gotti’s near-miss with the IRS highlights how crucial financial education and the right advisory team are in the entertainment industry and beyond. The hosts and guest champion the need for proactive mentoring and systemic financial literacy—from school classrooms to entertainment contracts—so the next generation doesn't learn these expensive lessons the hard way.

Transcript

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[Guest/Artist Manager]

A lot of artists get have issues. IRS or their accountant might have taken advantage of them or businessman. Did you ever have any issues?

[Host]

No, I had no, I had them type. I ain't had them type of issues, but I did have. I didn't have them type of issues where it affected me, but I did have a. I call it, I want to call it, I call it a lack of information in the beginning when it came to that, when it came to that area, you know, unfortunately for me, because, you know, I'm good with my money, I'm good with saving money, I'm good with keeping money. Even when I learned the information, I was in position to handle it. You know what I mean? Because we grew up, we grew up. I grew up. Maybe they should teach this in school too. Because I grew up thinking when we heard of Texas, my mom and them got tax money. That's when we got new Jordans, we got new outfits, we got new joints. It was a celebration when it was text time, waiting on tax time, that was better than Christmas, you know what I'm saying? So I didn't know in the, you know, even in my earliest stages of getting money, I didn't know we had to pay. So it ain't that I didn't want to pay or that I wouldn't pay. I didn't know because a lack of information. They ain't teach me that in school. Yeah, I'm saying nobody taught me that in school, when I opened up my bank and started putting big chicks in the bank, my banker didn't tell me I had to pay taxes. I didn't have a CPA in the beginning, so I didn't know that. Right. So for me, I was buying real estate early, right? And I just happened to get a letter. They say, like, yo, we gonna. What they call it, like, seize your property if you don't pay this. And yeah, put a lien on it. I didn't even know you had to pay property taxes on a house that you had paid cash. Keep in mind at this time, Brian, I got 10, 15 houses I didn't pay cash for that I didn't have for four, five years that I never paid property taxes on because I didn't know.

[Guest/Artist Manager]

For five years.

[Host]

Yeah.

[Guest/Artist Manager]

Wow.

[Host]

I didn't know. So it just so happened that I get a letter in the mail telling me that they want to. They're going to seize the properties if I don't pay these property taxes. And I get a letter about the tax. But I. You know what I'm saying? So I hit my lawyer at the time that wasn't even a tax lawyer. He just, you know, he was a criminal lawyer lawyer. I know from back in the G. You know what I'm saying? So I hit him like, yo, let me. I need to send you these papers. And he. He sent me to a tax lawyer and a cpa, you know what I mean? And I sat down with them and they pretty much put me on game, you know what I'm saying? Like this how this work? This how this go, you know what I mean? Go get your statements. We'll look, got everything together. This is what you owe. This is how it.

[Guest/Artist Manager]

But luckily for you, you had. You had money.

[Host]

Yeah, I had the paper to handle it. But I think. I think I do think that's a thing, though, because I do think there's a thing where depending on where you. How you grow up, you may not even know that exists. And then you ain't good with the paper. And by the time it come to your front doorstep, you ain't in position.

[Guest/Artist Manager]

Well, let me ask you.

[Host]

So you in the hole from the you and you deep in the hole. So one of the things I do, you know, one of the things I do, we make sure we tell the artist that first time we give you a dollar.

[Guest/Artist Manager]

Yeah.

[Host]

You know what I'm saying? We give you money, yo, make sure you're doing this. And we even advise certain things, make sure you get you A cpa. Make sure you get you this.

[Guest/Artist Manager]

Make sure you get you that. Do you set them up with one or do you have. Do you give them a CPA to work?

[Host]

No, no, no, no. I don't ever want to give an artist nothing like that. Because I don't never want to be like, oh, they show people conflict of interest. You know what I'm saying? They show people and the money ain't right. And I ain't doing that. I want me. I'm giving you the information. Like, yo, you need this, you need this, you need this and this. Why? And I'm giving them the example. The same thing I just told y', all, man. This is what happened to me. Yeah. You know what I'm saying? I ain't knowing. You know, this will happen. So make sure this don't happen to you.

[Guest/Artist Manager]

Hold on, let me just ask one.

[Host]

Follow up.

[Guest/Artist Manager]

So we have. I have a friend who's an executive at a label, and he brought the idea up where, you know, in the NBA and NFL, they have, like, the rookie symposium when you get drafted. Like, all of the rookies come to, like, Vegas for, like, the weekend, and they give them all different types of lessons. And, like, one of the lessons is, like, they get, like, financial advisors to, like, educate them. Yeah. A lot of people don't listen, but at least they got, like, boot camp. So he was saying, like, they should have, like, a symposium for all, like, artists.

[Host]

I think when you first get a

[Guest/Artist Manager]

record deal, like, you gotta go through this. At least you can say that you wasn't. You didn't know. Like, I mean, like, now you make a conscious decision not to pay taxes. That's on you. But it's like, you know, like you say you take a kid 18, 17 years old. I never really even had a job.

[Host]

Yeah.

[Guest/Artist Manager]

And you know, how you really expect him to know about handling all of this? And so what's your thoughts on that idea?

[Host]

No, I agree with that. I agree with that. I actually was. I actually was talking to somebody I know to do management, and he was telling me that they don't even take clients unless part of their contract is you have to have a CPA for them to even do business with you. Like, we not even doing straight up business with just us and you when it come to financial, like, we want to deal with your cpa. So it's always clean and straight up from the beginning. That's something I actually may start implicating in my contracts, you know what I'm saying? Because I think it's important. I just think I do non music related jobs for my artists now. I mean like stuff like that. We talk about or help them do whatever it is. If you're trying to buy a house, a car, like we involved in anything you allow us to be involved in, you know what I'm saying? Because we look at you as family. We don't want you to do it wrong. We don't want you to pay more because you didn't have the right information to do it. We don't want nobody to scam you, you know what I'm saying? We don't want you to run into these hurdles that we probably already ran through. We already paid for the mistakes, so we gonna try to bypass you past those mistakes. So I work with all my artists on stuff like that. It's non music related. There ain't no nothing I owe to do in my contract that just like from the goodness of our heart. I want to see our family do it the right way. So I do think if they was putting it in the record labels a part of the structures or in the schools again. Cause you know, I ain't no, you know I ain't no dumb. You feel me like, you feel like I made A's in school, you know what I'm saying? And I didn't know about it. Yeah. So I wouldn't even say like, you know what I'm saying? How they'll try to try to play on us like, oh, you from a certain place. You don't know. Nah, you know, I'm one of the ones that had A's and I still didn't know about it. Yeah, I mean it's a fact. I mean it's something that we're working on as well to get curriculum put into the school district. We starting here in New York City, but hopefully it'll be something that goes throughout the United States and eventually throughout the world.

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