The situation with Danny Trejo’s finances is difficult right now. After a prosperous career in Hollywood, the actor has chosen to pursue a path of financial ruin. But he is not bankrupt; rather, he has a sizable tax debt to the federal government.
Back taxes totalling $2 million are owed to the IRS by Trejo. In order to free himself from his obligations, he plans to discharge his debts through a Chapter 11 bankruptcy. Keep reading if you want to find out more about the development.
The news that Danny Trejo, age 78. He will be filing for Chapter 11 bankruptcy has been confirmed by the tabloid TMZ. This provision addresses the reorganisation of assets in order to facilitate more effective debt management.
Trejo asserts that he is indebted to the federal government in the amount of $2 million in taxes. Therefore, as a result of the fact that he has fraudulently claimed deductions over the course of the past few years. That the costs associated with dog grooming are not tax deductible.
In the meantime, considering that he is only filing for personal bankruptcy. The filing will not have any impact on the company that he owns. In addition to being the proud owner of a record label. Also, with a number of coffee and doughnut shops, Trejo is currently the proud proprietor of eight locations of Trejo’s Tacos.
The limited liability companies (LLCs) and corporations owned by the actor will keep running their businesses as usual. It has been said by a great number of people that his restaurants are very successful and profitable. By submitting his tax return. Trejo hopes to resolve the tax controversy and wipe out his debt before the end of the year.
The actor has a current net worth of half a million dollars in the United States
His net worth is currently estimated to be $500,000 US Dollars. In addition to that. He is the owner of a number of properties in and around the city of Los Angeles. However, in 1999, he spent $130,000 on the acquisition of a home in the Pico Rivera neighbourhood of Los Angeles. And in 2012, he purchased a home in the affluent neighbourhood of Mission Hills.
The year before, he made his debut at Madame Tussauds with his very own wax figure. As he admitted at the time, “I’m usually pretty good at just winging a speech. ” So the experience was particularly humbling for him.
Trejo has spent the better part of three decades pursuing a career in the arts
The actor made his debut in the film Runaway Train, appearing in the cast as a prisoner extra (1985). In the years that followed, he had roles in movies such as Marked for Death, and Desperado. Also, From Dusk Till Dawn, The Replacement Killers, Animal Factory, Bubble Boy, XXX, and Anchorman: The Legend of Ron Burgundy.
In addition to Grindhouse and Urban Justice, the films Modus Operandi. Because of the success of his Spy Kids character Isador “Machete” Cortez.
“I reign as the king of independent films, and I couldn’t be happier!” When asked about his career, Trejo responded with an exclamation. It’s always a good joke to make fun of the fact. That you had to pawn your car or borrow money from your mom in order to finance your indie movie, so I really enjoy doing those. This is not a trivial issue at all.
Also read: After People Started Googling Giggity 420, It Quickly Became a Fad
