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Ryan Burton catches up with trainer Jeff Mayweather to discuss Celestino Caballero's upcoming super featherweight bout with Jason Litzau, Floyd Mayweather vs. Manny Pacquiao, and much more.
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LOL at the reporter getting su****ious at Jeff, as he should because he lied about the tax part.
I cant help but notice that this argument is absolutely ridiculous.
We know that floyd is single and taking care of all his baby moma’s and moma’ses and their kids, so he will be qualified as the Head of Household status.
Sorry to tell you guys but the Feds charges a flat rate of 35% for people making above 375k with head of household status.
Assuming that he made 70mil on the mosley fight and another 180mil against Pac= that would total to 250million in income, and he will be taxed at around 87.5million
(70+180) = 250 x .35 = 87.5 million, so he gets around 162.5million this year compared to 45.5 million (70 x .35) = 24.5; 70 -24.5 = 45.5.
So thats about 117 million dollar more.
The only thing I can argue for floyd is that he is probably taking advantage of some deduction and tax credit that is about couple million dollars worth
But with that said I can’t help but also argue about the (time value of money), the money that is worth now is more than the money received later, because we can invest on it and etc.
In today's economy I cant even imagine how much advantage the people with money because you can practically buy anything at super discount price.Last edited by OpaiSoma; 10-15-2010, 03:58 AM.Comment
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