New Court Papers Released Detail K-Fed’s Earnings & Spendings
First Published: April 3, 2008 8:10 PM EDT Credit: AP
LOS ANGELES, Calif. -- Last month a court commissioner ruled that Britney Spears was required to pay $375,000 of Kevin Federline’s legal fees. And today, the public is learning why the commissioner rendered the decision, thanks to the release of documents which indicate K-Fed has low earnings and high expenditures.
In his income and expense declaration, Federline claimed he earned no money in December and does not have a monthly earnings average.
He did, however, make $800 in “residuals” and $350 in “dividends/interest.”
Federline claims he has $338,692 in assets and that he receives $35,000 per month from Britney.
His total monthly expenses, including rent, insurance, food, clothes and other things comes to $46,956. He pays $4,104 in child support to Shar Jackson, who is not referenced by name in the papers.
Federline appears to spend the majority of his money through Gooseneck Productions, Inc. which he cites as his employer, but is the company he set up to release his artistic endeavors.
The paperwork released by the courts details some of the many charges he paid through his production company, including nanny bills and purchases at stores including Ralph’s, Target, Toys R Us, and Ross.
In 2007, K-Fed filmed an ad for Nationwide, a spot which was aired during the Super Bowl. From the paperwork, it appears the backup dancer-turned-rapper-turned-actor made almost $400,000 for the clip.
As for his appearances on “One Tree Hill,” K-Fed makes between $6,500 and $6,900.
In addition to living expenses, Federline has a host of other expenditures of note, including almost $28,000 in general merchandise from Arte De Mexico, an interior design company located in Burbank, California.
He also made several purchases of airline tickets to fly a passenger by the name of Heather Heise from San Jose to Phoenix and Las Vegas.
He also spent money to fly a woman by the name of Lindsay Ledbetter in to Burbank from Oregon, and other friends and family in from various locations.
A number of purchases at liquor stores were also made on Federline’s American Express card.
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