If Kovalev / Duva DON'T Accept Ward's terms, then Kova was content with the Loss

[billeau2]

State sales tax is an offset to federal income taxes. I don't have any idea what Ward's books look like, but his tax burden is nowhere near 50%. Warren Buffet's tax bill, when all is said and done, doesn't even get up to 20%.

An LLC that is set under a corporate structure has more tax benefits than you've even considered.

All camp expenses pass through 'Andre Ward LLC', all revenues pass through 'Andre Ward LLC', and all fight payout expenses pass through 'Andre Ward LLC'.

Heck, if things are structured properly, Ward could have his home and living expenses paid through 'Andre Ward LLC'.

Do you know how an LLC works? lol

I use an LLC as a Real Estate Professional. Warren Buffets taxes are unrelated, they are figured totally differently because they are not earned income...Buffet himself says he is not taxed as much as the secretarys that work for him...look it up.

You don't really understand the main issue, it has nothing to do with a "pass through," which are different structures, like an LLC. These structures have some tax advantages but are primarily about liability.

The issue is earned income which is visible and taxed at a high rate by the IRS. Deductions are important but, your deductions are not going to severely impact your tax rate with regard to earned income...this changes with other types of income.

Real tax sheltering starts with not taking in earned income if possible. When I sell my house its earned income and I pay tax, if I refinance my house its a mortgage deduction...even if I pull out the same equity...If I get a paycheck for a job I pay tax, if I am an independent contractor before I pay taxes I use deductions. Rich people and smart people use trusts...they put everything in trusts and don't own anything. Trusts allow one to never take the money and create a taxable event, if you need income you borrow from the trust.

You, like most people, confuse pass through type stuctures with trusts. LLC's, and other corporate structuring is designed to makd a corporate fictional self that bares liability... If you slip in the place I rent to you, you sue the LLC Pecan Park Grove (my LLC!) and I am not liable, the fictional entity is liable. Thats why many people have more than one pass through structure! several LLC's!

An athlete cannot hide their income. Its why most professional athletes wind up broke. Basketball players make the most in this country (the usa) and I thing the average in 5 years is that almost 80% wind up broke? As an athlete that travels you have to pay every state you play ball in with the team, income tax...look it up its a fact.

Anyhow, I like to be constructive...I like to share information that I had to learn about to survive in my business. I hope you take it in that spirit, regardless I know what I am talking about. If you want to do the best you can with earned income a trust is the only way to go because the rich made those structures to shield their estates...By law we can all use them.

Think of it this way: Do you believe most athletes are stupid? the myth that every ball player from the ghetto mismanages their cash? Some do, no doubt but there is a much more insidious process: If you really look at the actual amount of taxes athletes pay on their income it would amaze you...All taxes, from sales tax on. if those same athletes would get their income in small chunks over a larger period they would have considerably less problems because they would get more of their cash and give less of it away to uncle sam.

[Scipio2009]

I use an LLC as a Real Estate Professional. Warren Buffets taxes are unrelated, they are figured totally differently because they are not earned income...Buffet himself says he is not taxed as much as the secretarys that work for him...look it up.

You don't really understand the main issue, it has nothing to do with a "pass through," which are different structures, like an LLC. These structures have some tax advantages but are primarily about liability.

The issue is earned income which is visible and taxed at a high rate by the IRS. Deductions are important but, your deductions are not going to severely impact your tax rate with regard to earned income...this changes with other types of income.

Real tax sheltering starts with not taking in earned income if possible. When I sell my house its earned income and I pay tax, if I refinance my house its a mortgage deduction...even if I pull out the same equity...If I get a paycheck for a job I pay tax, if I am an independent contractor before I pay taxes I use deductions. Rich people and smart people use trusts...they put everything in trusts and don't own anything. Trusts allow one to never take the money and create a taxable event, if you need income you borrow from the trust.

You, like most people, confuse pass through type stuctures with trusts. LLC's, and other corporate structuring is designed to makd a corporate fictional self that bares liability... If you slip in the place I rent to you, you sue the LLC Pecan Park Grove (my LLC!) and I am not liable, the fictional entity is liable. Thats why many people have more than one pass through structure! several LLC's!

An athlete cannot hide their income. Its why most professional athletes wind up broke. Basketball players make the most in this country (the usa) and I thing the average in 5 years is that almost 80% wind up broke? As an athlete that travels you have to pay every state you play ball in with the team, income tax...look it up its a fact.

Anyhow, I like to be constructive...I like to share information that I had to learn about to survive in my business. I hope you take it in that spirit, regardless I know what I am talking about. If you want to do the best you can with earned income a trust is the only way to go because the rich made those structures to shield their estates...By law we can all use them.

Think of it this way: Do you believe most athletes are stupid? the myth that every ball player from the ghetto mismanages their cash? Some do, no doubt but there is a much more insidious process: If you really look at the actual amount of taxes athletes pay on their income it would amaze you...All taxes, from sales tax on. if those same athletes would get their income in small chunks over a larger period they would have considerably less problems because they would get more of their cash and give less of it away to uncle sam.

If all of Ward's business is passed through an assumed 'Andre Ward LLC' what earned income is there for Ward to bother with? That's my point.

Andre Ward isn't working a 9-5, Andre Ward isn't flipping houses, etc; Andre Ward is a sponsored fighter, who boxes for a living, while commentating for HBO/UK tv and making appearances on occasion.

For all the lines you've tried to write, you've failed to illuminate a single reason why Andre Ward couldn't simply have all of his business (incoming/outgoing) pass through his LLC. lol

Athletes go broke because most of them, across all sports, became pro athletes barely removed from high school, often in rough circumstances, with nary an idea for what a real financial plan would ever look like.

What is barring 'Andre Ward LLC' from owning property, maintaining assets, covering the expenses of a fight camp, covering the expenses paid to a management and training team, and managing the contracting out of Andre Ward for appearances, among other things?

[Scipio2009]

I use an LLC as a Real Estate Professional. Warren Buffets taxes are unrelated, they are figured totally differently because they are not earned income...Buffet himself says he is not taxed as much as the secretarys that work for him...look it up.

You don't really understand the main issue, it has nothing to do with a "pass through," which are different structures, like an LLC. These structures have some tax advantages but are primarily about liability.

The issue is earned income which is visible and taxed at a high rate by the IRS. Deductions are important but, your deductions are not going to severely impact your tax rate with regard to earned income...this changes with other types of income.

Real tax sheltering starts with not taking in earned income if possible. When I sell my house its earned income and I pay tax, if I refinance my house its a mortgage deduction...even if I pull out the same equity...If I get a paycheck for a job I pay tax, if I am an independent contractor before I pay taxes I use deductions. Rich people and smart people use trusts...they put everything in trusts and don't own anything. Trusts allow one to never take the money and create a taxable event, if you need income you borrow from the trust.

You, like most people, confuse pass through type stuctures with trusts. LLC's, and other corporate structuring is designed to makd a corporate fictional self that bares liability... If you slip in the place I rent to you, you sue the LLC Pecan Park Grove (my LLC!) and I am not liable, the fictional entity is liable. Thats why many people have more than one pass through structure! several LLC's!

An athlete cannot hide their income. Its why most professional athletes wind up broke. Basketball players make the most in this country (the usa) and I thing the average in 5 years is that almost 80% wind up broke? As an athlete that travels you have to pay every state you play ball in with the team, income tax...look it up its a fact.

Anyhow, I like to be constructive...I like to share information that I had to learn about to survive in my business. I hope you take it in that spirit, regardless I know what I am talking about. If you want to do the best you can with earned income a trust is the only way to go because the rich made those structures to shield their estates...By law we can all use them.

Think of it this way: Do you believe most athletes are stupid? the myth that every ball player from the ghetto mismanages their cash? Some do, no doubt but there is a much more insidious process: If you really look at the actual amount of taxes athletes pay on their income it would amaze you...All taxes, from sales tax on. if those same athletes would get their income in small chunks over a larger period they would have considerably less problems because they would get more of their cash and give less of it away to uncle sam.

Floyd Mayweather Jr is, in all likelihood, never going to go broke; he started out wild, like most athletes, but he settled into a management team that's been able to properly help him stash his money in the best financial structures for him.

Floyd's taxes aren't zero, but having the proper financial structures in place doesn't move his taxes to anywhere near you'd want to imagine.

[billeau2]

If all of Ward's business is passed through an assumed 'Andre Ward LLC' what earned income is there for Ward to bother with? That's my point.

Andre Ward isn't working a 9-5, Andre Ward isn't flipping houses, etc; Andre Ward is a sponsored fighter, who boxes for a living, while commentating for HBO/UK tv and making appearances on occasion.

For all the lines you've tried to write, you've failed to illuminate a single reason why Andre Ward couldn't simply have all of his business (incoming/outgoing) pass through his LLC. lol

Athletes go broke because most of them, across all sports, became pro athletes barely removed from high school, often in rough circumstances, with nary an idea for what a real financial plan would ever look like.

What is barring 'Andre Ward LLC' from owning property, maintaining assets, covering the expenses of a fight camp, covering the expenses paid to a management and training team, and managing the contracting out of Andre Ward for appearances, among other things?

I never said his business would not go through an LLC...Did you read what I wrote?

The bolded part is only partially true, its actually almost a misconception....it is what a lot of society would love for you to believe...but I am stopping here as you are not reading my posts if you think I am trying to tell you what structure Ward uses to put his earned income into.

Briefly and I mean briefly, athletes, especially boxers are victimized by their own financial people often, and...again look at the actual amounts that make it to the athlete!

[billeau2]

Floyd Mayweather Jr is, in all likelihood, never going to go broke; he started out wild, like most athletes, but he settled into a management team that's been able to properly help him stash his money in the best financial structures for him.

Floyd's taxes aren't zero, but having the proper financial structures in place doesn't move his taxes to anywhere near you'd want to imagine.

How old is Floyd? You really think you can say that he will not go broke? lets see Floyd a few years down the line. Look at pro boxers who have remained financially successful... look at how many have financial problems. None of those guys thought they would be broke either. For every Larry Holmes (avoided Don King, invested in businesses by the handful, is succesful) there are ten Evander Holyfields.

De La Hoya and Hopkins? succesful...and why? both men have never stopped working. Hopkins is also known for not living lavishly and being frugal. Both men are businessmen. I would be suprised if either man would disagree with anything I am telling you.

Here is some stuff to read> Forget about me trying to make a point, LEARN about the problem and maybe, if your a young man you can solve the problem one day.

http://www.si.com/vault/2009/03/23/1...letes-go-broke

This article is the status quo and mentions, as you do, the poor management skills. Unfortunately it does not mention the taxation issues.

http://www.pressherald.com/2015/06/2...cess-in-taxes/

https://smartasset.com/taxes/NFL-jock-taxes

These two articles above deal with totally different taxation issues: Read the second one and you will see that the nominal tax rate for the NFL is 50% that is before any LLC structure, etc...that is just on earned income and NOT counting sales tax and property taxes! Care to do that math? Hint: we are signficantly over 50% paid in taxes, total.

I know what I am talking about, this is a serious issue and as much as I like financial education, I also question why this issue is ignored when it is exploitive to athletes.

[Scipio2009]

How old is Floyd? You really think you can say that he will not go broke? lets see Floyd a few years down the line. Look at pro boxers who have remained financially successful... look at how many have financial problems. None of those guys thought they would be broke either. For every Larry Holmes (avoided Don King, invested in businesses by the handful, is succesful) there are ten Evander Holyfields.

De La Hoya and Hopkins? succesful...and why? both men have never stopped working. Hopkins is also known for not living lavishly and being frugal. Both men are businessmen. I would be suprised if either man would disagree with anything I am telling you.

Here is some stuff to read> Forget about me trying to make a point, LEARN about the problem and maybe, if your a young man you can solve the problem one day.

http://www.si.com/vault/2009/03/23/1...letes-go-broke

This article is the status quo and mentions, as you do, the poor management skills. Unfortunately it does not mention the taxation issues.

http://www.pressherald.com/2015/06/2...cess-in-taxes/

https://smartasset.com/taxes/NFL-jock-taxes

These two articles above deal with totally different taxation issues: Read the second one and you will see that the nominal tax rate for the NFL is 50% that is before any LLC structure, etc...that is just on earned income and NOT counting sales tax and property taxes! Care to do that math? Hint: we are signficantly over 50% paid in taxes, total.

I know what I am talking about, this is a serious issue and as much as I like financial education, I also question why this issue is ignored when it is exploitive to athletes.

Floyd Mayweather Jr earned well over $600m over his boxing career, earned the vast majority of that on the back end of his career, has no tax debt/credit debt to bother with, and has most of his money already locked away in income generating assets across the spectrum (between the properties, his gym, his lifestyle brand, his promotional company, the side businesses he's put money in, and his appearances, Floyd's got at least 6 or 7 different avenues to help generate income).

It's hilarious that you earnestly are trying to simply throw out information, as if I don't have a pretty good idea for what I'm talking about either, lol.

Federal, state, local taxes may end up adding to 50%, but the point that you're clearly refusing to acknowledge is that most of these taxes offset against one another.

The fact the you seem bent on insisting that anyone actually pays 50% of what they earn in taxes is laughable.

[Larry the boss]

Terms are in the contract both signed right?

[billeau2]

Floyd Mayweather Jr earned well over $600m over his boxing career, earned the vast majority of that on the back end of his career, has no tax debt/credit debt to bother with, and has most of his money already locked away in income generating assets across the spectrum (between the properties, his gym, his lifestyle brand, his promotional company, the side businesses he's put money in, and his appearances, Floyd's got at least 6 or 7 different avenues to help generate income).

It's hilarious that you earnestly are trying to simply throw out information, as if I don't have a pretty good idea for what I'm talking about either, lol.

Federal, state, local taxes may end up adding to 50%, but the point that you're clearly refusing to acknowledge is that most of these taxes offset against one another.

The fact the you seem bent on insisting that anyone actually pays 50% of what they earn in taxes is laughable.

Floyd also has a gambling problem and a lifestyle problem. I hope your right and I am wrong...So I can say yeah Floyd is raising up and will learn Noble Oblesque we will see.

Offsetting, accounting, sheltering are all part of it...but its still a big problem. It has to do with how earned income is taxed. Look and see how much 'earned income' a rich person has...they don't...for a reason. if you want want to believe otherwise, i feel I have done my part, believe what you want.

[Ray*]

They had a rematch clause, which in most cases meant all terms had been arranged. Kovalev gave Ward a chance at the belts/legacy, it's only right Ward returns the favour.... No excuses

[Scipio2009]

Floyd also has a gambling problem and a lifestyle problem. I hope your right and I am wrong...So I can say yeah Floyd is raising up and will learn Noble Oblesque we will see.

Offsetting, accounting, sheltering are all part of it...but its still a big problem. It has to do with how earned income is taxed. Look and see how much 'earned income' a rich person has...they don't...for a reason. if you want want to believe otherwise, i feel I have done my part, believe what you want.

Even Floyd's gambling, at this point, is a tax offset (Floyd's constant gambling likely allows for that to be considered as a hobby business, allowing for him to write off any those losses).

Since Haymon helped straighten things out, I can't point to a single example where Floyd is handed money for anything; all of his business, from the looks of things, goes through pass-throughs and corporate shells.

will have to agree to diagree