Floyd Mayweather Jr owes $6.2 million in federal income taxes - COMEBACK INEVITABLE ?

I'm pretty sure Philthy Rich Records is going to take off anytime now. ________ ****stars spanish

hey man no sympathy though, with 30 million dollars the interest on that alone would probably be in the millions per year so if you aren't a fool and blow it all you can comfortably live RICH off that interest for the rest of eternity and the interest is taxable too. and for the person that said that 6 mil is nothing for floyd. why hasnt he paid it??? and would risk a lien

http://www.nowboxing.com/2008/12/floyd-mayweather-jr-owes-62-million-in-federal-income-taxes/ Floyd Mayweather Jr owes $6.2 million in federal income taxes December 24, 2008 · Filed Under editorial, featured According to Robert Snell in his Tax Watchdog Blog, public record shows Mayweather Jr owes Uncle Sam big time. From theTax Watchdog: What’s owed: * The IRS filed a $6,165,735 lien against Mayweather for unpaid incomes taxes on Oct. 9 in Clark County, Nev. He owes the money from 2007, according to the Clark County Recorder’s office. This could be the reason Floyd Mayweather Jr has shown some interest again for a big money fight and no tune up. According to his Advisor Leonard Ellerbee, Floyd gave him the go ahead to look for the best fight possible. This comes as no shock to boxing fans especially the way Floyd Mayweather Jr supposedly spends his cash and throws out Benjamin Franklin’s to crowds at the clubs and parties he attends. Floyd throws money away like it grows on trees, unless it counts as a tax deduction it makes no real sense to me. The biggest possible fight right now would be a fight with Manny Pacquiao who holds the title of pound 4 pound best boxer in the world, a title that Floyd held before his retirement. But from the looks of it that fight has to wait because the word on various boxing sites is Ricky Hatton vs Manny Pacquiao is almost a done deal for May 2, 2009. Floyd will probably face the winner of that bought. damn that nikka need to fire his accountant.

^^ I disagree, we all know he's coming back. As of now, he spends more than he makes.. That wont work in the long run That's a very bold claim. How can we be so sure he does? By the videos he's in?

^^ I disagree, we all know he's coming back. As of now, he spends more than he makes.. That wont work in the long run

Assuming Floyd has learned from the history of boxers who've gained wealth, been cheated by their handlers, and died broke and destitute--I would venture say he's had pretty decent financial advice concerning the management of his earnings. 6 mil should only be a drop in the bucket providing the remainder of his wealth is still out there working for him while he sleeps. I suppose if he was really strapped for cash he would not have announced his retirement, and would instead be fighting more frequently than he has been. So, I'd say he's pretty well off and not worried about paying taxes at the moment.

I don't really agree. I see Mayweather having anywhere from 40-60$ million at the most so 7 million tax is a decent chunk of that. Some of you guys over estimate how rich athletes/celebrities are. For example ya'll would have probably thought heath ledger was caking yet when he died they said his estate was only like 15$ million or something along those lines, so I don't necessarily expect Floyd to have much more than 30-60million or so and that money is constantly waning due to his expenditures and profligate life style I tend to agree with you about his Net worth. I think He is worth anywhere from $40-70 Million. Nowhere close to what people assume he has. Some people on here are giving Floyd ridiculous net worth figures. I don't think Floyd has even made $150 million in purses in his entire career.

didn't floyd get like 20 million from WWE too?

That's really not a lot of money. He has a lot more than that. It adds up. Floyd lost, not spent about $15 million in 2007. Floyd might have money, but he does not have enough money to lose $15 million a year in retirement. 15 million is just what he lost, as in taxes, getting robbed, lawsuits, etc... now add in all the money he spends... He would go broke in about 4 years.

He's rich enuf to easily afford that. I heard him on a TV interview say that he was going to make 170 million this year. He didn't say how.

Are some of you people stupid? Look at it like this.. Floyd spends money like water: He's taking care of his family, friends, and himself. Cars, Jewelry, making it rain, strippers, bodyguards, lawyers, unsuccessful record company, charity events and his entourage..Thats a lot of money Floyd has no real income right now, he aint generating money.. His money is like a water well.. After the Hatton fight it was filled.. Now its draining without being refilled, and 6 million is a lot of ****ing gallons to take out. Floyd didnt start making real money until the Oscar and Hatton fight. You guys do know Floyd only brings home 70% of his purse if he's lucky

He's rich enuf to easily afford that.

1. where did you get that info, source please? 2. as someone else said, most stars have their money tied up in investment and property and that gets calculated into networth whereas his actual capital is probably not even one fifth of that. that means if he owes 7 million in CASH for taxes he might not even have that much cash in the bank account laying around. in all fairness i'm sure he does but i'm also sure it's no where near 150 million or even half of that On top of this, if he doesn't have the cash to pay a 6mil tax bill then he'll have to liquidate some of his assets or basically sell them off. And guess what.... he'll have to pay taxes on the money that brings in too (which won't be jack shit compared to 6 or 7 years ago). Just to generate a 6mil lump of cash free and clear will probably cost him 10-15mil after it's put through the wringer. And that's if HE does it himself right now. The cherry on top is that the tax bill will collect interest. So if he neglects to pay the bill now, the IRS will seize his assets and auction them off which by the time they get around to it that 6mil could be in upwards of 10mil. Then his assets being auctioned will probably generate half of what they would if Floyd had done it himself, and that's if he's lucky. So that equates to Floyd losing at least twice what he would if he'd just sucked it up and paid it now. The tax man is not to be dicked with. The list of celebrities that the IRS has made examples of is a mile long.

http://www.nowboxing.com/2008/12/floyd-mayweather-jr-owes-62-million-in-federal-income-taxes/ Floyd Mayweather Jr owes $6.2 million in federal income taxes December 24, 2008 · Filed Under editorial, featured According to Robert Snell in his Tax Watchdog Blog, public record shows Mayweather Jr owes Uncle Sam big time. From theTax Watchdog: What’s owed: * The IRS filed a $6,165,735 lien against Mayweather for unpaid incomes taxes on Oct. 9 in Clark County, Nev. He owes the money from 2007, according to the Clark County Recorder’s office. This could be the reason Floyd Mayweather Jr has shown some interest again for a big money fight and no tune up. According to his Advisor Leonard Ellerbee, Floyd gave him the go ahead to look for the best fight possible. This comes as no shock to boxing fans especially the way Floyd Mayweather Jr supposedly spends his cash and throws out Benjamin Franklin’s to crowds at the clubs and parties he attends. Floyd throws money away like it grows on trees, unless it counts as a tax deduction it makes no real sense to me. The biggest possible fight right now would be a fight with Manny Pacquiao who holds the title of pound 4 pound best boxer in the world, a title that Floyd held before his retirement. But from the looks of it that fight has to wait because the word on various boxing sites is Ricky Hatton vs Manny Pacquiao is almost a done deal for May 2, 2009. Floyd will probably face the winner of that bought. I don't think 6 mill is gonna hurt Floyd.......he's still spendin' money from the Zab fight :lol1:.....Floyd is Rich Bitch!

I agree. He knows how to be a PPV fighter, from the pre-fight demeanor to the postfight conferences... You can see that now...De La Hoya-Pacquiao wasn't close 2 Mayweather. Why does everyone act like Floyd has been a huge draw his entire career ? He was never really that popular or rich until he fought Oscar ! Did you all forget that this man couldn't even sell out an arena in his own hometown ? As for De La Hoya-Pacquiao, of course not, do you read the news ? The ecomomy here in the US is at its worst point since the Great Depression !

yea and the average income for those 39 fights prior to the last few megafights was probably not even 1 million dollars. factor in million dollar sports cars and homes and jewelry and what you have left is not that much $$ His net worth is over $150 Million

Floyd is the biggets star in the sport and its not just because he beat Oscar. I agree. He knows how to be a PPV fighter, from the pre-fight demeanor to the postfight conferences... You can see that now...De La Hoya-Pacquiao wasn't close 2 Mayweather.

poeple forget this dude, has fought 39 times, with also some ppv events before hatton and DELA! he's got money alright.. enough. But i bett he wants more.

I don't think he was making a direct comparison to Louis. He said "This is where it begins". I agree. Mayweather needs to be smart about this and not keep pissing money down the drain. Naw, I understand. I'm just pissed at how they did Joe Louis.

Floyd is in a little of a tight spot. He is worth well more than 6 million, but most likely does not have it in real cash and has most of it invested. Problem is, he cashes out that money and then that itself is then taxable as he most likely invested that money as a long term investment in order to keep that money a non taxable safe haven. Add to that he most likely took some severe financial hits when wall street went bottom up and yeah, he is in a financial pinch right now.