Comments Thread For: Mayweather-Pacquiao: Tax Troubles, Roger's Legal Mess

[SocalBaller]

Isn't the tax rate threshold at 100K-110K, depending on your filing status (Single, Married filing Jointly of Head of Household). Anything you earn above that is taxed at a flat rate of 35%. So it doesn't matter if you earn $40M this year and $60M next year or if you earn $100M in 1 year. You get taxed the same 35%, except for the first $100K which is taxed at a lower rate, but that's peanuts to Floyd.

It's the same thing for corporate taxes (Mayweather Promotions). It's 34% from 335K to 10M, 35% from 10M to 15M, 38% from 15M to 18.3M and a flat 35% for anything exceeding $18.3M. Assuming Mayweather Promotions kept at least half of the $40M for Mosley, he should already exceed the $18.3M threshold which means a 35% rate after that.

The only other variable is his expenses/deductions but that is deductible either way assuming he has income on both years.

[guru]

tax is excuse is lame, just really lame... id rather floyd just say i want the rest of this year off to work on my struggling record label...

[elfag]

It's amazing how many people on here think they understand tax laws. If you think Floyd simply gets a check made out to "Money May" for 40 million you're crazy. I don't know the details of how his accountants have things set up for him but more than likely he's an employee of his own corporation and as such subject to both corporate and personal tax (payroll tax, etc., etc.). This is MUCH more complicated than a personal income tax question. To say he'll get taxed the same for 40 million (or whatever) twice this year as he would once in 2010 and once in 2011 is naive. I'm not taking sides but there could very well be a financial situation that compels him to sit out the rest of the year.

If it was as simple as some on NSB are making it out to be than we should all file our own taxes next year. Who needs an accountant? Just go on line, figure out your (paltry) bracket and deduct your (outrageous) percentage. No problem!

Yeah my first thought is it shouldnt matter and it wouldnt if it was just a normal person filing as income. But I got the feeling it is far more complex than that in his situation because its probably not set up as just an individual, he has different companies, mayweather promotions ect and all that ****.


It is still annoying to boxing fans though that he has to *** it up like that. I mean he is 100% about the money and nothing about winning or legacy. People have wanted to see the fight and both fighters are near prime and are on a good winning streak. He was in debt to the IRS but between his two fights he is ****ing loaded again and if he didnt blow it all on ****** ***elry and cars he wouldnt have to worry about every little detail with the money on his fights.

Its the right time for them to fight end of the year, Pac may want to quit and theyre both getting older. Also there is the very small (imo but not in others) chance that Pac gets upset by margo and then the megafight with PBF is no more or it wont sell nearly as well.

[adp023]

I bet the IRS already hates Floyd! You flash around like a buffoon, you'll get audited like one!! If it's true about the Bush tax cuts expiring, then he should've fought this year! Because next year, filing for the wealthy will be much more complicated.

[southpaw_07]

and this is why they shoulda fought in Dubai, tax free...Mayweather just dont wanna fight Pacman..thats the problem right there....
if there's a will there's a way

[jtiger78]

ONE DAY ITS AN ARTICLE CALLING OUT PAC FOR THE *****S

THE NEXT DAY ITS AN ARTICLE CALLING OUT FLOYD FOR THE *******S

?????????????

[ox805er]

i really dont think it's a tax issue.. simply cause didn he fight de la hoya and hatton on the same yr?? and he didnt seem to have a problem with making money then.. excuses excuses!!

the marquez' bros ready to do damage again!!

[ballgamessuck]

The thing with his uncle I can understand, but that's not a reason to not make the fight. You're telling me a guy with Floyd's money can't find a lawyer that can postpone his going to jail?

And the taxes bullsh** is plain ******ed. He's getting taxed on what he makes from the Mosley fight too, would Floyd rather make 20-25 million for one fight or 70 million from two fights? That's just a load of horsesh**.

He ducked. Neither of these reasons are anything close to a reason to completely avoid Pacquiao.

Agreed. The IRS does not have a 100 percent bracket. Even if they took 40 percent, that still leaves 60 percent. So Floyd would be left with only 60 percent of 50 million dollars, that is a hell of a lot more than 100 percent of zero. They only way this argument works (cant believe im showing them the way out) is that there wasnt time to set up a fight in a tax free location, and even then Floyd is a US citzen, the gov is going to take some one way or the other.

[SluggerFan]

The tax thing is bull****, if he would have fought out the U.S., he wouldn't be taxed at all...

[Mr. Philadel]

Tax issues and the legal problems facing his uncle and trainer Roger Mayweather may have caused Floyd Mayweather Jr. not to fight pound-for-pound king and “Fighter of the Decade” Manny Pacquiao on the planned November 13 date at the MGM Grand in Las Vegas.

[Click Here To Read More]

dam....so Floyd could've got his ass taxed TWICE in one fight!!