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So why will Manny Pacquiao spend at least the first portion of his training camp preparing for Miguel Cotto outside of the familiar confines of the Wild Card Boxing Club in Hollywood, California?
The most unbeatable foe there is- the IRS.
His promoter Bob Arum explains," Under the Internal Revenue Service code that was amended a couple of years go, an alien will be taxed as a United States citizen, which means his world-wide income would be taxed under the following test: let's take the current year, 2009, you take the number of days you spent in the U.S. in 2007, multiply it by one-sixth, you take the number of days you spend in the U.S. in 2008 and you multiply it by one-third. You add the 2007 number and the 2008 number to 100-percent of 2009 and if you go over '183' or over, you're f****d. You're taxed as a U.S. citizen.
" So he would be coming perilously close to that if he trained in the States the entire time. We have made the effort to move his training camp outside the country- at least for the first part of the training."
The three most likely destinations are the Ba*****, Cancun or somewhere in Canada.
- Steve Kim Maxboxing
So why will Manny Pacquiao spend at least the first portion of his training camp preparing for Miguel Cotto outside of the familiar confines of the Wild Card Boxing Club in Hollywood, California?
The most unbeatable foe there is- the IRS.
His promoter Bob Arum explains," Under the Internal Revenue Service code that was amended a couple of years go, an alien will be taxed as a United States citizen, which means his world-wide income would be taxed under the following test: let's take the current year, 2009, you take the number of days you spent in the U.S. in 2007, multiply it by one-sixth, you take the number of days you spend in the U.S. in 2008 and you multiply it by one-third. You add the 2007 number and the 2008 number to 100-percent of 2009 and if you go over '183' or over, you're f****d. You're taxed as a U.S. citizen.
" So he would be coming perilously close to that if he trained in the States the entire time. We have made the effort to move his training camp outside the country- at least for the first part of the training."
The three most likely destinations are the Ba*****, Cancun or somewhere in Canada.
- Steve Kim Maxboxing
True story, pretty much anybody can get touched in Mexico by 1 of the 3 cartels.
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