Comments Thread For: Roy Jones Jr. Now Battered By The IRS, Owes $3.5 Million
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i don't always assume that these guys don't have the money they owe. Its possible they dispute the amount and will settle the matter in court. Either way it looks bad to have your business in the streets. All I am saying is that sometimes there is more to the story. I hope thats the case here.Comment
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The problem with a lot of you. You have never been involved in entertainment of any sort. So you don't know the rules and how easy it is to get in Tax trouble. He may have the money. However if you are in any line of business that requires work in many states. You have to pay taxes for that state. So if Roy fought in New York which he did in those yrs and LA the next time and commentated 3 fights in 3 different states. He has to pay taxes for each one of those states. Thats what people don't realize about sports figures. As an accountant I kow that its hard to keep track of. All those baseball, basketball, football, and other sports guys. Whatever city they play in within that year they have to pay Taxes for because in reality they worked in that state.Comment
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IRS == Federal. You are describing State Taxes, different monster.The problem with a lot of you. You have never been involved in entertainment of any sort. So you don't know the rules and how easy it is to get in Tax trouble. He may have the money. However if you are in any line of business that requires work in many states. You have to pay taxes for that state. So if Roy fought in New York which he did in those yrs and LA the next time and commentated 3 fights in 3 different states. He has to pay taxes for each one of those states. Thats what people don't realize about sports figures. As an accountant I kow that its hard to keep track of. All those baseball, basketball, football, and other sports guys. Whatever city they play in within that year they have to pay Taxes for because in reality they worked in that state.Comment
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