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

[NesNY]

Jimmy boy, None of us are physic's.
So lets go on what we know now and stay in reality.
Anything is possible. Especially in the current Political environment.
**** if you would told me 2 years ago we will now have a new social entitlements with Healthcare, and all new laws on regulation of derivatives, and feds can now cap Executive pay. I would have called you crazy..
But guess what we do, so dont speak so absolutely about the future because in short, you do not know **** about what "could" happen.

umm.

Psychics. You're looking for the word...Psychics.

Physics is something completely different.

[Xeraser]

Yeah I'm just an actuary with a minor in business.

The reality is the Bush tax cuts are expiring in January and ***** has shown no desire to stop the top income level cuts from expiring.

There's a 99 per cent chance Floyd will pay more in total taxes fighting Pac next year instead of this. A 0 per cent chance that he'd pay less. The remaining 1% (if you're keeping track) is that he'd pay the same.

Facing those odds, I'd fight Pac in December.

Floyd apologist just can't understand what is 35 percent taken out. You make another 50 million, 35 percent still taken out. You make 50 million next year, 35 percent is taken out or maybe more. I dunno what is hard to understand.

[boojee]

[Horus]

That long ass unnecessary post DOES IN NO WAY SHAPE OR FORM, change the way taxes are charged, or paid.


It doesn't matter if he makes 100 mill this year, or 50 million this year, and 50 million next year.


He pays the SAME AMOUNT in taxes whether he makes it all this year, or he splits it up between the two years.


He will actually pay A HIGHER percentage next year than this year.


And another 6 page post isn't going to change anything.


You telling me someone who makes 100 million will pay more taxes than someone who makes 50 million.. means nothing.

NO **** THEY DO.


What you DONT llike to talk about ... is that, that person just made 50 MILLION more than the other person.

It's all relative!





These are your arguments?

He doesnt like to pay taxes?

WHo the **** likes to pay taxes Horus?



Why do you defend for the sake of defending?

For the sake of argument, one could argue what Floyd is doing is no different from people who decide instead of paying upfront for things, they rather take a payment plan.

It seems like majority of people in this thread are in favor of always paying upfront for things instead of spreading it out.

If that is the case then,
Why do some of us who have the money to buy the car upfront, instead elect to get on a payment plan to pay off a car, which in the long run could cost us more money....?

You see where this is going?



FACTS

• The more money you make the more taxes you pay.
• Just because you pay the same percentage doesnt mean you pay the same taxes.

From the above post it seems to me that you agree with those facts.
So you agree with those facts, I do not see how you say it is not a valid argument to say that Making more money this year might not be good for a person if he "could" save some money by waiting a couple of Months because of taxes.

Which seems reasonable to any reasonable person.

Once again you and countless people have said,
U said nobody likes paying taxes, ok I said that too..
U said there is no way around paying taxes... actually there is. (save that for another time)

Fact

• By law income taxes are collected on the basis of assessments, which are made only after returns are filed.
  
• Thus, there was no legal way the Federal government could compel the payment of income taxes before returns were filed and assessments made.

Like I said before we do not know all the details behind the decision as to why this a argument from alot of people around Team Mayweather, most recently Floyd sr. I mean we do not know what kind of **** Floyd is doing to say as of right now it would be better for me to wait to next year in order for me to make another 40-60 Million dollars.

He might be deciding to go to do a number of thing legally or illegally to reduce his taxes. I between last year and this year the guy will have paid
over 30 Million dollars in taxes in less than 10 Months..So i think it is understandable for somebody to be responding emotionally to the idea of within a span of 12 months paying the government 50 million dollars...

**** everybody in this thread is saying Nobody likes to pay taxes like it is a one liner.

Nobody I know likes to pay child support
Nobody I know likes to pay alimony
Nobody I know likes to state income taxes
etc.

in each of those situations they are requirments to do, but yet people still
have a problem with it and try to find ways out of it.

Rae Carruth
Pamela Anderson
JC Chasez
Aaron Carter
Toni Braxton
Duane "Dog" Chapman
Julio Cesar Chavez
Chris Tucker
Nicolas Cage
Joe Francis
Sophia Loren
Wesley Snipes
Richard Hatch
Leona Helmsley
Marc Anthony
Richard Pryor
Luciano Pavarotti
Spiro Agnew
Martha Stewart
Willie Nelson
etc.

all these people if not most of these people were smart people who didnt like to pay taxes and responding emotionally about paying them. Why do you think that is???

Some people respond differently to paying taxes, paying taxes is not a universal feeling that everybody responds logically too.

So once again I understand this argument about the tax situation.
and too completely dismiss this argument is not fair because it has some validation.

[THE REED]

For the sake of argument, one could argue what Floyd is doing is no different from people who decide instead of paying upfront for things, they rather take a payment plan.

It seems like majority of people in this thread are in favor of always paying upfront for things instead of spreading it out.

If that is the case then,
Why do some of us who have the money to buy the car upfront, instead elect to get on a payment plan to pay off a car, which in the long run could cost us more money....?

You see where this is going?



FACTS

• The more money you make the more taxes you pay.
• Just because you pay the same percentage doesnt mean you pay the same taxes.

From the above post it seems to me that you agree with those facts.
So you agree with those facts, I do not see how you say it is not a valid argument to say that Making more money this year might not be good for a person if he could save some money by waiting a couple of Months because of taxes.

Which seems reasonable to any reasonable person.

Once again you and countless people have said,
U said nobody likes paying taxes, ok I said that too..
U said there is no way around paying taxes... actually there is. (save that for another time)

Fact

• By law income taxes are collected on the basis of assessments, which are made only after returns are filed.
  
• Thus, there was no legal way the Federal government could compel the payment of income taxes before returns were filed and assessments made.

Like I said before we do not know all the details behind the decision as to why this a argument from alot of people around Team Mayweather, most recently Floyd sr. I mean we do not know what kind of **** Floyd is doing to say as of right now it would be better for me to wait to next year in order for me to make another 40-60 Million dollars.

He might be deciding to go to do a number of thing legally or illegally to reduce his taxes. I between last year and this year the guy will have paid
over 30 Million dollars in taxes in less than 10 Months..So i think it is understandable for somebody to be responding emotionally to the idea of within a span of 12 months paying the government 50 million dollars...

**** everybody in this thread is saying Nobody likes to pay taxes like it is a one liner.

Nobody I know likes to pay child support
Nobody I know likes to pay alimony
Nobody I know likes to state income taxes
etc.

in each of those situations they are requirments to do, but yet people still
have a problem with it and try to find ways out of it.

Rae Carruth
Pamela Anderson
JC Chasez
Aaron Carter
Toni Braxton
Duane "Dog" Chapman
Julio Cesar Chavez
Chris Tucker
Nicolas Cage
Joe Francis
Sophia Loren
Wesley Snipes
Richard Hatch
Leona Helmsley
Marc Anthony
Richard Pryor
Luciano Pavarotti
Spiro Agnew
Martha Stewart
Willie Nelson
etc.

all these people if not most of these people were smart people who didnt like to pay taxes and responding emotionally about paying them. Why do you think that is???

Some people respond differently to paying taxes, paying taxes is not a universal feeling that everybody responds logically too.

So once again I understand this argument about the tax situation.
and too completely dismiss this argument is not fair because it has some validation.

If he makes more money, then he pays more taxes.

But if he pays more taxes... guess what that means?

It means he MADE MORE MONEY.

Point, blank, period.






Why make 50 million and pay 17.5 in taxes this year?

When you could make 100 million and pay 35 million in taxes?


The first scenario you net 32.5 mill... the second you net out 65 million.


Seems like 65 million is more than 32.5 isn't it?



Your long ass post is mostly just filler Horus, and you know it.


If he pays more taxes, that's because he made more money.. and netted more money.

The discussion is over, you can't twist it any other way.


Lets not even mention taxes being raised next year an extra 4%...

How is that going to save him money?

[THE REED]

It's like I'm talking to a ****ing wall.

[Sin City]

all the excuses fall short.
I've grown tired of this.
I honestly don't care if they ever fight anymore.
they probably never will..

[THE REED]

paying taxes is not a universal feeling that everybody responds logically too.

That's all you had to say.

That it's not even logical.

[Horus]

If he makes more money, then he pays more taxes.

But if he pays more taxes... guess what that means?

It means he MADE MORE MONEY.

Point, blank, period.






Why make 50 million and pay 17.5 in taxes this year?

When you could make 100 million and pay 35 million in taxes?


The first scenario you net 32.5 mill... the second you net out 65 million.


Seems like 65 million is more than 32.5 isn't it?



Your long ass post is mostly just filler Horus, and you know it.


If he pays more taxes, that's because he made more money.. and netted more money.

The discussion is over, you can't twist it any other way.


Lets not even mention taxes being raised next year an extra 4%...

How is that going to save him money?

did u even read the whole post?
or did you just dismiss it and responded with this response that u had waiting?

Because if you read the whole post I already address your response to this post before you post it.

Maybe I will stop trying to add context to my arguments..
because what I was trying to explain to you was the commonality
of the arguement. Because believe it or not, what Mayweather doing is not
uncommon.

[Amazinger]

I have seen people around here saying that if Floyd fights Pac in 2010... that his earnings for the fight... in addition to his earnings for the Mosley fight would push him into the next tax bracket.

This would make Floyd want to wait until 2011, so that the Pac fight earnings do not push him into the next bracket, and he would pay a higher percentage.

I myself am someone who has been saying this...


After doing some research (because I am not a tax expert).


There is actually a ceiling on the federal tax brackets..

In other words... once you make a certain amount per year... your tax percentage does not increase... should you continue to make more.

Depending on what you make, you fall into a certain criteria.. such as follows:

10% - $0 – $8,375

15% - $8,376 – $34,000

25% - $34,001 – $82,400

28% - $82,401 – $171,850

33% - $171,851 – $373,650

35% - $373,651+


35% seems to be the federal ceiling tax bracket.

In addition, Nevada (where Floyd lives) Does not have State income Tax.

With the Shane Mosley fight, obviously Floyd is already in this tax bracket, and it is my understanding that any additional income for Floyd (Pacquiao fight) would not push him into the next tax bracket... because another tax bracket does not exist.



What I found on "millionaire tax bracket":

What the discussion over the top marginal tax rate ignores, however (and what Ygelsias picks up upon) is that this rate has been assessed at very different thresholds of income. In 1940, for example, the top marginal tax rate was 81.1 percent -- but this rate only kicked in once you made $5,000,000 or more in income, which is equivalent to about $75,000,000 in today's dollars.

But today, the threshold where the top tax bracket kicks in isn't $75 million, or $5 million, or even $1 million ... it's a mere $357,700(as of 2009, it was kicked up to $373,651 for 2010).

The progressivity of the tax code stops there.

http://www.fivethirtyeight.com/2009/03/missing-1000000-tax-bracket.html

Your thoughts?

My though.Floyd Mayweather talked about it and I'll be damned if I ever believe that guy.
They simply speculate and hope that people will not know and leave it at that.
But alas there are people like you who is not easily persuaded to believe their B.S.