Comments Thread For: Mayweather Jr. is Blasted By The IRS, $3.4 Million Tax Bill

[johncods]

This guy will be broke in the future.

[deuce_drop]

3. Erratic pay cycles and windfalls

I know it seems like a great thing to take home a million-dollar plus paycheck for singing a song, starring in a TV show or making a movie. And I'm sure the financial perks and other benefits of stardom aren't lost on celebrities. But think for a moment about what it must be like to get one or two big checks a year (either lump sums, advances or royalties) and then have to manage that money wisely all year long, maybe not knowing when the next check will come in.

Most people in the U.S. are wage earners who get regular checks once a week or once every two weeks. Some employees, like teachers, might get paid once a month. But overall, the average person who's working can count on a pretty steady pay cycle.

That's not the case for celebrities. Sure, they get their paydays – big ones, in fact. But when they get paid it's like receiving a huge financial windfall. And we all know what happens with most windfalls. People tend to blow the money.

But let's not bash celebs for that, because that would be a case of the pot calling the kettle black. Right now, millions of Americans are getting their own version of a financial windfall – in the form of an income tax refund check from the IRS. The average tax refund check is more than $3,100. But I ask you: how many people will blow that money, spending it on all manner of things? More than a few, I can assure you. Same thing happens with lottery winners who get millions.

My point is that the average American is sorely lacking in money-management skills and basic financial literacy. That's why, when most people do come into a chunk of money, it tends to get squandered. So why should we expect celebrities to do any different? Simply because their checks are bigger? It doesn't work that way. Their expenses are bigger too; in many cases, way bigger than most people can imagine.

http://today.msnbc.msn.com/id/422376...s-tax_tactics/

dude, i know you didn't write it, but a tax REFUND CHECK is not a windfall, it's a refund of a small percentage of WHAT YOU ALREADY PAID INTO THE SYSTEM, ie, you're getting a SUM, and a small one at that, of your own money back.

and although the article is right about getting big money and not knowing when or where your next check is coming from, i understand that, the only thing that doesn't really make sense is, these guys all know what is entailed, they all know the tax man gets his cut, just like the managers, and the lawyers, etc all get their cut, accountants, etc, so it really doesn't hold any water, and the HUGE BILLS that are being talked about, thats all a personally decision to live outside your means.

i don't care how much money you make and how big the bills are, if you can't pay them or at least pay them on time because of poor money management, then you are living outside your means. maybe not monetarily but responsibly.

it's true though, when people get money they act irresponsible and just because you're rich doesn't make you all that much different, the only thing is, this is nothing new to floyd. it's not like this is his first rodeo with this kind of mess. he has been making large amounts of money for a good portion of his adult life, he should know better............


but as of right now, i could care less, it's not my problem and i have spent too much of my time on this crap, i've got business to tend to, so, good day all.......

[lfc19titles]

Hey floyd, remember this line

"my **** is paid for, what about yours?"

looks like the fraud will have to fight pac soon for the money

[feroth]

Are you guys ALL ****ING ******ED? Everyone has to pay taxes LOL what's so shocking about someone earning 25million and having to pay tax on it? Bunch of morons

[ThePrince]

The PED experts and lawyers have now put on their financial adviser caps.

LOL at some of these clowns trying to make it look like Floyd got an IRS lien put on him on PURPOSE. You can't make this **** up.

Mayweather-Spadafora: Gotta Pay My Bills

Coming to HBO PPV this summer

[oc9979]

I am sure he got the money to pay for it. He bets on baskeball games a lot of money

[Forza]

The mega rich always forget to pay their taxes. Why? Because they can afford to. Floyd wipes his ass with 3.4m.

" Taxes are for little people "

Remember who said that?

[KnockUTheFukOut]

Boxing Scene loves to post negative things about Mayweather. Does boxing scene really hate him? or are they trying to feed the legions of filipinos who come to this site to hate on mayweather?

not just BoxingScene but every boxing site does it, Mayweather name gets people attention...especially when it is a negative article about him

[deuce_drop]

The PED experts and lawyers have now put on their financial adviser caps.

LOL at some of these clowns trying to make it look like Floyd got an IRS lien put on him on PURPOSE. You can't make this **** up.

Mayweather-Spadafora: Gotta Pay My Bills

Coming to HBO PPV this summer

hahah, classic dude, pure classic gold..............

mayweather-spadafora: gotta pay my bills............!!!!!! LMFAO


i tried giving green but the karma button aint working????? either way, comedy gold brotha, comedy gold..........

[GRUSTLER]

Floyd Mayweather Jr needs to stop playing with the tax man. The IRS put more celebs in jail then Dog the bounty hunter do fugitives. I know people don't like to pay taxes but I think as a rich person, that is the most important to do when you have all that Quac.