Less than a month after admitting he was “drowning in tax debt” in an Instagram video, Dean McDermott has made a shocking confession about his monthly expenses.
The former Chopped Canada host, 58, earns just $3,800 a month, according to an income statement he filed on Friday, September 5, as part of his ongoing divorce from Tori Spelling, which was obtained by Page Six.
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Because of the 2023 SAG/AFTRA strikes, “my acting and producing work has decreased drastically,” McDermott declared, adding that he manages to live in LA on just $3,980 a month, but that’s still more than he makes. (His girlfriend of nearly two years, Lily Calo, brings in $600 a month, he stated.)
His estranged wife, meanwhile, takes home between $3,000 and $75,000 a month, he claimed, “depending on the job.”
The Beverly Hills, 90210 alum filed for divorce from McDermott in 2024 after 18 years of marriage, during which they infamously racked up some of their debts together, including state taxes and a nearly $38,000 American Express bill, according to People.
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“I suck with money,” the actress, 52, admitted on her misSPELLING podcast in 2024, adding that after she failed to pay an $80,000 bill for her storage units, her personal items were auctioned off.
According to the new documents, McDermott still owes half of a $400,000 loan from City National Bank he took out with Spelling, along with credit card debts of $14,500 and a dental bill for $1,200.
He also revealed in the August Instagram video that he owes “over $1 million” in taxes.
Per Us Weekly, McDermott, who is now dating Lily Calo, also noted in the filing that he spends custodial time with his youngest child, son Beau, 8. He and Spelling also share son Liam, 18, daughter Stella, 17, daughter Hattie, 13, and son Finn, 13.
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