Even superstar money needs someone to keep the numbers straight. Latin music star Romeo Santos is suing his former accounting and business management firm, claiming a series of tax mistakes and financial missteps cost him more than $2.3 million.
Santos claims Morrison Brown Argiz & Farra LLP, now known as BDO, mishandled his complicated tax returns, including incorrectly reporting his New York residency for 2021. According to the lawsuit, the mistake triggered a state tax audit and resulted in Santos facing additional tax penalties, interest and professional fees.
Santos alleges the firm’s work was not simply aggressive tax planning, but contained errors that did not match the actual facts of where he lived and worked.
The tax problems were only part of Santos’ complaints. He also claims the firm allowed a large amount of his money to sit in a checking account without earning anything, failed to fund his IRA and purchased a duplicate workers’ compensation insurance policy that he did not need.
Santos further alleges that the firm kept him on an expensive private health insurance plan even though he qualified for SAG-AFTRA coverage at a lower cost.
After Santos ended his relationship with the firm, he claims the financial problems did not stop. According to the lawsuit, BDO allegedly debited money from one of his accounts without authorization.
Santos says the combined mistakes caused losses that include tax penalties, interest, professional fees, the unauthorized withdrawal and lost value from the handling of his cash, insurance and retirement accounts.
Santos is seeking at least $2.3 million and has requested a jury trial. The case is still in its early stages, and the allegations have not been proven in court. But the lawsuit is a good reminder that entertainment careers come with complicated financial and business matters behind the scenes. From contracts and business management to disputes like this one, having the right legal guidance can be just as important as having the right team on stage. The Minias Law Firm also represents clients in entertainment law matters, helping artists and other entertainment professionals navigate the legal side of their careers.
Every case is different, but understanding your legal rights is always the first step. If you have questions about your situation, The Minias Law Firm is here to help. Just remember Don’t stress, Just text.