Brad Cooney: "Tax Implications on Floyd Jr could move the fight in early 2011"

SuckaPunch

Quote:

8CN has learned from a few sources on both sides that the mega super fight between Mayweather and Pacquiao is almost a go. According to our source both Pacquiao and Mayweather have agreed to terms. 8CN unlike a few other sites will not print in bold headlines that this fight is a done deal. We keep it real here and are reporting that according to our sources, the fighters have agreed to terms. Another of our sources are telling us that there are some tax implications on the mind of Mayweather, and that may push the fight into early 2011. One additional issue is the lawsuit that was filed by Pacquiao against Mayweather for slander. 8CN sources are telling us that the lawsuit is still an issue that will need to be worked out before either guy signs the contracts. We will continue to chase this latest news, and update soon.

http://www.8countnews.com/news/125/A...010-06-30.html

Big Dunn

Quote:

Originally Posted by SuckaPunch

http://www.8countnews.com/news/125/A...010-06-30.html

Makes sense, if he earns over 100 mil this year he will have to pay serious taxes.

American Dream

thats a smart move on the tax issue..but the fans want it this year...

madsweeney

You guys make it sound like this fight will put him into another tax bracket or something like that. Now I'm no accountant but pretty much every who makes over $350k are taxed in the same bracket.

IMO if he delays the fight for TAXES its a duck move. Seriously? First testing, then split, now taxes?!?

Joeyzagz

Its a real issue. The Yank government bloodsucks any citizen who tries to make a decent living for himself.

The reality Is that Floyd could save 20 million bucks in taxes if he keeps his income below 100m and waits till next year....

Fight should be a February if this is the case.

Big Dunn

Quote:

Originally Posted by madsweeney

You guys make it sound like this fight will put him into another tax bracket or something like that. Now I'm no accountant but pretty much every who makes over $350k are taxed in the same bracket.

IMO if he delays the fight for TAXES its a duck move. Seriously? First testing, then split, now taxes?!?

Actually once you go into 9 figures you have different taxes to pay.

SuckaPunch

waiting for *****s to read up on tax brackets (like they did with drug testing procedures) to defend this move...

j/k

Pullcounter

Quote:

Originally Posted by SuckaPunch

http://www.8countnews.com/news/125/A...010-06-30.html

damn *****s grasping at straws. they are finding every excuse to floyd to weasel out of the fight.

shade darkar

i dont know if you can do it in america, but cant he get a portion of his money that he will earn for the fight this tax year, just enough to take him slightly below the next tax bracket, then be paid the rest of what he is owed at the beggining of the next tax year?

Big Dunn

Quote:

Originally Posted by shade darkar

i dont know if you can do it in america, but cant he get a portion of his money that he will earn for the fight this tax year, just enough to take him slightly below the next tax bracket, then be paid the rest of what he is owed at the beggining of the next tax year?

You can't defer a payment like that. The IRS will be all on you. Besides, floyd already tried that with the wrestlemania money and the IRS said hold on gorilla dog give us our cheese!

View Poll Results: Since Manny is retiring in November 2010, is this considered a DUCK move?
Yes	12	41.38%
No	10	34.48%
Maybe	7	24.14%
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American Dream THE FUTURE. Join Date: Dec 2009 Location: America Posts: 1,660 Rep Power: 7 Points: 6,662.28 Bank: 1,785,961,613.01 Total Points: 1,785,968,275.29 Donate	thats a smart move on the tax issue..but the fans want it this year...

madsweeney Undisputed Champion Join Date: Jun 2009 Location: San Jose, CA Age: 31 Posts: 3,470 Rep Power: 10 Points: 206,068.21 Bank: 0.00 Total Points: 206,068.21 Donate	You guys make it sound like this fight will put him into another tax bracket or something like that. Now I'm no accountant but pretty much every who makes over $350k are taxed in the same bracket. IMO if he delays the fight for TAXES its a duck move. Seriously? First testing, then split, now taxes?!?

Joeyzagz Soir Join Date: Sep 2006 Posts: 6,287 Rep Power: 21 Points: 157,035,854.17 Bank: 1,660,625,237.49 Total Points: 1,817,661,091.66 Donate	Its a real issue. The Yank government bloodsucks any citizen who tries to make a decent living for himself. The reality Is that Floyd could save 20 million bucks in taxes if he keeps his income below 100m and waits till next year.... Fight should be a February if this is the case.

SuckaPunch One Lethal Punch Join Date: Mar 2005 Posts: 5,097 Rep Power: 4650 Points: 601,440.42 Bank: 50,709,358,300.99 Total Points: 50,709,959,741.41 Donate	waiting for *****s to read up on tax brackets (like they did with drug testing procedures) to defend this move... j/k

shade darkar Undisputed Champion Join Date: Apr 2009 Location: Manchester Posts: 5,926 Rep Power: 16 Points: 50,642.59 Bank: 36,017,112,648.94 Total Points: 36,017,163,291.53 Donate	i dont know if you can do it in america, but cant he get a portion of his money that he will earn for the fight this tax year, just enough to take him slightly below the next tax bracket, then be paid the rest of what he is owed at the beggining of the next tax year?