Comments Thread For: Danny Garcia: Mayweather Has Big Tax Bill, Won't Retire

[SchoolTheseCats]

Danny boy shut up he write everything off through mayweather promotions llc doesn't get hit with the 39% tax hike dummy just stick to getting punched in face and gift decisions

[285Kid]

Floyd need to fight in Cotai Arena in Macau, China

All US citizens who live abroad may still be liable for taxes in their home country. ... You are not legally required to do so if you don't owe U.S. taxes

[nycsmooth]

Even @ corporate rate he can write most lf it off as Maweather promtions...

[bickenback]

Floyd should easily add another $150m in cash, on top of the $200m in cash that he's already been able to put away.

Sounds about right. I was bored the other day and tried to do the math on Floyd's earnings, I came up with that he should have about $300-350 million in cash by now.

[louvega]

Floyd's biggest problem won't be the taxes he has to pay but the rate at which he may spend his money.

Wouldn't surprise me to see him bankrupt in 5-10 years.

[turnedup]

LMAO more talk about dollars. Seriously people may need to go read some entertainer tales about what these big numbers actually turn out to be when they see their cut in the end...

[Build That Wall]

Mayweather vs Garcia. Coming to PPV Spring 2016. Rated TV MA

Warning, if you are offended easily by racism, I wouldn't recommend watching All Access.

But buy the fight, it's can't miss action

[.!WAR MIKEY!.]

IV's arent cheap.

[Larry the boss]

Geography lessons by Bernard Hopkins

Accounting classes by Danny Garcia

Medical expertise by NSB posters

why even bother going to school? just follow boxing

lol,damn right

[Scipio2009]

Uncle Sam takes 39.6% of what Floyd makes. Haymon takes another 15%. That right there is already just over half of floyds purse. Then there's training expenses of which most can be written off.

So when it's reported that Floyd makes $250mil, he actually pockets maybe $100mil of that money. Yes it's still a LOT of money but Floyd also spends a LOT of it.

He returned to the sport once after retiring due to tax problems for which Oscar dela Hoya helped him out with and in return Floyd signed with GBP. Let's hope Floyd learned his lesson.

Uncle Sam takes 20% of what passes through Mayweather LLC (which pays out to Floyd money that's already been taxed, therefore not taxed again), before Haymon gets his 15%. Trainer/cutman/assistant get their payouts, with training expenses/sparring/chef/S&C coach/etc getting their fees, before Floyd pockets the rest of it (Write-offs lower the tax bill even further).

So, when it's said that Floyd made $250m, its more likely that he ended up clear $150m once all the payouts are dealt with.

Floyd spends far less money than people think he spends (MGM comps him a ton of stuff, he can basically writeoff all of his ******** as small business expenses, and most clubs pay him to host events at his venues, often comping the bill); you add that he begins any discussion with at least $200m in cash in the bank (before counting the value of the various properties/assets and businesses), and his spending is just fine.