Comments Thread For: Tua in Serious Tax Trouble: Purses Frozen, Owes Millions

[Earl-Hickey]

Poor Tua, it's probably all that burger king he eats skinted him.

[Cotto 54/10]

It's quite bad when you know that even if you do well in a fight, you will get no returns in the end. I believe the motivation would not really be there.

[Dawerlzgreatest]

There is NO law. NO statute that says any American HAS to pay taxes on their income. NO law what-so-ever. Do a little digging on the subject, you'll be quite surprised.

Exactly my friend.. no taxes on labor.. only taxes on capital gains, corporate profits, dividend income etc.

Taxes on labor is double dipping.

Im glad someone else knows the IRS is not a LEGAL entity but private corporation, if you don't pay them a collection agency comes to see you. Not police. It's a scam. It's a game Wesley Snipes would have won if a female employee did not decide to file.

[BostonGuy]

Tua owes the "IRD" (Inland Revenue Department); that's the New Zealand equivalent of the "IRS." I found that kind of amusing....

[Tobi.G]

I'd rather work my ass off and invest my millions while living in a 1bedroom apartment driving a honda civic knowing that in 10 years I can retire and live like a king with all the cash I have made and invested.


.

Are you nuts? I think thats pushing it! Sure you should invest lots of money, but not so much that you cant afford anything. I would never buy a 150k watch or something like that but after i make my first millions i would buy me at least a nice car and and a nice appartment. I mean common, as a boxing star you dont live in a 1 bedroom apartment and drive a Civic!!

[joe strong]

tua has had on going financial & legal issues for years.it must be hard to stay motivated knowing your purse is going to others & not you.another boxer who made millions but will walk away broke.

[vietmin]

Just to clear something up I've read in this thread, and a few others, Tua does NOT have a million dollar 3 fight tv deal. An article was written claiming he was losing 1 mil a year as a result of his tv deal. That doesn't mean you are getting 1 mil.

He gets 50k New Zealand dollars(about 37k USD) per fight, plus what ever he can scrounge up from ticket sales and fringe american PPV companies.

I believe he also gets double taxed when he fights in the states as NZ tax department will tax his US earnings, even if already taxed by the IRS. I may be wrong, but his wife said something to that effect. He needs to leave NZ for 300 days a year or something along those lines, but he can't afford that right now.

When his last fight is done, he can start doing NZ pay per views again(we kiwis pay good money to see him whoop people in 2 rounds), first up, bringing Barrett down here, and whooping him inside one round to make a few hundred thousand. Should he fight Wlad in december, YES, but things don't always work out the way you want them too, sadly a kiwi/aussie journeyman then barrett will be better for him financially than fighting Wlad now, but his high rank won't go away if he keeps active. Make a dent in the bills, get contracts that include training fees so he can get his fitness trainer back(237lb and 237lb can mean totally different things with tua) and he'll be smashing wlad's ribs in no time. Even an old worn tua is more entertaining than most heavyweights.

[Greatwhitehope]

What is so hard about realising if you're making money, you're going to be paying taxes, so budget for it. There is no way I can feel sorry for anyone who owes a lot in back taxes.

[LeadUppercut]

Tua owes the "IRD" (Inland Revenue Department); that's the New Zealand equivalent of the "IRS." I found that kind of amusing....

I don't know how it works in other countries.....

..... but here, the IRD walk in and take whatever they want.

They are pretty vicious man.

[LeadUppercut]

Are you nuts? I think thats pushing it! Sure you should invest lots of money, but not so much that you cant afford anything. I would never buy a 150k watch or something like that but after i make my first millions i would buy me at least a nice car and and a nice appartment. I mean common, as a boxing star you dont live in a 1 bedroom apartment and drive a Civic!!

I just got a mental picture of Tua's fat ass climbing out of a civic