Floyds "tax issue" for the year, for possibly not fighting in 2010?

[Kagami Taiga]

It was a pointless comment but ****, these guys are now saying Floyd's taxes are legit reason to call off the fight.

not a legit reason to call off the fight but a legit reason to postpone it until jan or feb, y not?

[THE REED]

not a legit reason to call off the fight but a legit reason to postpone it until jan or feb, y not?

What's a legit reason to postpone it?

[Kagami Taiga]

What's a legit reason to postpone it?

tax concerns are a legit reason. as long as they fight, why the hell shld it matter if its a few months later?

[Dan...]

tax concerns are a legit reason. as long as they fight, why the hell shld it matter if its a few months later?

The point is there don't appear to be any tax concerns. From what I can gather.

[Ragnar Lothbrok]

make believe drugs like a side meth, steroid accusations with no evidence, OST, purse splits, fake rib injuries, fight location disputes, ppv attraction worthiness,................


now adding tax brackets to the list of floyd excuses.


quite disgusting really.

[Kagami Taiga]

The point is there don't appear to be any tax concerns. From what I can gather.

but the guys analyzing tax issues online dnt understand taxes at all. they are looking at floyds personal taxes alone. thats faulty. he also has a few buisnesses as well. if there are tax issues, trust me, it wasnt floyd who came up with them. taxes are beyond the understanding of ppl who dont get education to deal with them, ive taken high level classes on tax and i still dnt understand them tht well. there are many ways for the government to get in your pockets if you are a millionare and u own a number of buisnesses.

[Horus]

this is a new fiscal year, meaning he already got tax for fiscal year 2009.
the fight in november would go towards fiscal year 2010.

[madsweeney]

but the guys analyzing tax issues online dnt understand taxes at all. they are looking at floyds personal taxes alone. thats faulty. he also has a few buisnesses as well. if there are tax issues, trust me, it wasnt floyd who came up with them. taxes are beyond the understanding of ppl who dont get education to deal with them, ive taken high level classes on tax and i still dnt understand them tht well. there are many ways for the government to get in your pockets if you are a millionare and u own a number of buisnesses.

Fact of the matter Pac has been saying for a while he's retiring. He's stated numerous times that this is his last fight, even if its not with Mayweather. All tax issues aside (even if there is some credit to them) it sounds like yet ANOTHER reason for the fight not to happen. I mean ****, how could this fight be any harder to make?

[Story]

make believe drugs like a side meth, steroid accusations with no evidence, OST, purse splits, fake rib injuries, fight location disputes, ppv attraction worthiness,................


now adding tax brackets to the list of floyd excuses.



quite disgusting really.

How about Floyd not fighting Pac until he drops the lawsuit ?

[THE REED]

but the guys analyzing tax issues online dnt understand taxes at all. they are looking at floyds personal taxes alone. thats faulty. he also has a few buisnesses as well. if there are tax issues, trust me, it wasnt floyd who came up with them. taxes are beyond the understanding of ppl who dont get education to deal with them, ive taken high level classes on tax and i still dnt understand them tht well. there are many ways for the government to get in your pockets if you are a millionare and u own a number of buisnesses.

Owning a corporation and having to pay taxes on corporate income is no different than paying personal income.

What I mean is, both personal income tax, and business income tax, both have ceiling tax brackets.

Meaning there is a set number, and once you reach and surpass it, your income tax percentage no longer increases because you've reached the ceiling tax bracket.

The highest personal tax bracket is $373,651... once you exceed that, which Floyd has with Mosley... your tax percentage does not increase... 35% is the ceiling.

The highest corporate tax bracket, which Mayweather Promotions would have to pay, is $18,333,333+... Once you hit this number and surpass it, your corporate tax bracket is 35%, and your percentage does not increase anymore.

Both Floyds personal and corporate tax ceilings have already been reached, and in essence... any further income(Pacquiao fight) will not effect what tax bracket he will have to pay for 2010.

He is in the 35% tax bracket both personal, and corporate... and it will not change whether he fights Pacquiao this year or not.