Comments Thread For: Mayweather Owes Taxes, Asks IRS to Wait For McGregor Fight

[GhostofDempsey]

Check out all the accountants and CPA's on this thread trying to figure Floyd's taxes out, LMAO! Fact is, he made hundreds of millions and now doesn't have the cash flow to pay his back taxes, period. None of you are in his will, so 45 pages into this thread I don't know what all the fuss is about. We all see the way he spends money, is it any surprise he would be blowing through it and having IRS problems?

[Shape up]

... the 2006 tax owed was just paid in the last couple years, with no penalty assessed.

For a person who works with managing money, you don't seem to have all that good a grasp on timing of payments

I love how you make things up, where did l say I manage money, it's quite simple, floyd can't pay the IRS, you fanboys have come to the rescue and to defend the damsel in distress

[Tony Trick-Pony]

Check out all the accountants and CPA's on this thread trying to figure Floyd's taxes out, LMAO! Fact is, he made hundreds of millions and now doesn't have the cash flow to pay his back taxes, period. None of you are in his will, so 45 pages into this thread I don't know what all the fuss is about. We all see the way he spends money, is it any surprise he would be blowing through it and having IRS problems?

TBE doe...

Not only the best at making it, but the best at spending it. You gotta admire this guy...

[satiev1]

We have no idea how much is actually left to pay on Floyd's tax obligation, since the info isn't out there and we have no idea how Floyd and his accountant/lawyer had things set up for him.

For a person who is allegedly in wealth management and an accountant, the fact that you seem to believe that Floyd Mayweather had no withholdings on anything, talking about 2015 here, is laughable.

Floyd Mayweather has been a million dollar fighter since 2001, a resident of the same city since 1995, and currently sits on a personal empire made of countless moving parts (real estate investments, residential rental properties, his TMT brand, Mayweather Promotions, Mayweather Boxing Club, Girl Collection, side business with folks close to him, etc).

With the amount of money passing Floyd's way, why on Earth would he not have been on an estimated tax schedule (take whatever was paid the prior year, determine 110% of that figure, and have quarterly payments made during the year) that nearly everyone of wealth is put under?

For the fights against Zab Judah and Carlos Baldomir (Floyd's first away from Top Rank), Floyd generated over $30m on PPV ($15m after paying the outside parties; Floyd was guaranteed $5m on the Judah fight and owned the show for Baldomir), $10m of which that easily could've gone to Floyd. Count the two live gates and event sponsors, two international TV rights, etc and Floyd's take for the year goes up quite a bit.

The amount that was left in dispute over Floyd's 2006 income was $1.6m, a hefty amount of money but likely not even 10% of what Floyd likely ended up with income for the year.

Compare what Floyd earned in 2014 (two Maidana fights, nearly 2 million PPV buys and a $130m, nearly $30m at the live gate, other revenues, on a 9:1 Mayweather split of the take, money outside of boxing/not disclosed income) to what Floyd earned in 2015 (the Pacquiao take that he basically had to split 50/50 with Top Rank, the Berto fight, etc) and make the assessment.

If the estimated tax payments were 110% of what he ended up paying the year before, with no other withholdings on the money that gets to him, a good chunk of the 2015 bill was already paid in advance

Lol. There have been thousands of athletes in similar situations who have not paid their taxes quarterly and went broke. Determine 110 percent of that? You love making **** up.

2nd bold. You just made that up out of your ass. Pure speculation on your end. If the payments were made? LMAO. Paid In Advance?
LOLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL

The only way you can know what the hell is going on with floyd's Irs tax history is if you are an attorney, enrolled agent, or cpa and floyd signs over an IRS power of attorney form to you to review his records. Other than that, you won't know what was paid and how much was paid and what is owed. FACEPALM

[Scipio2009]

I love how you make things up, where did l say I manage money, it's quite simple, floyd can't pay the IRS, you fanboys have come to the rescue and to defend the damsel in distress

For someone who is allegedly an accountant, you make a lot of very simple knowledge mistakes that an actual accountant wouldn't make. Lol

[ironmt]

For someone who is allegedly an accountant, you make a lot of very simple knowledge mistakes that an actual accountant wouldn't make. Lol

But If he sided with Floyd he would be a knowledgeable accountant right?

[Scipio2009]

Lol. There have been thousands of athletes in similar situations who have not paid their taxes quarterly and went broke. Determine 110 percent of that? You love making **** up.

2nd bold. You just made that up out of your ass. Pure speculation on your end. If the payments were made? LMAO. Paid In Advance?
LOLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL

The only way you can know what the hell is going on with floyd's Irs tax history is if you are an attorney, enrolled agent, or cpa and floyd signs over an IRS power of attorney form to you to review his records. Other than that, you won't know what was paid and how much was paid and what is owed. FACEPALM

The fact that you earnestly think that Floyd Mayweather Jr over 17 years into a run of million dollar paydays (allegedly debuted for $100k), and Al Haymon in his corner for more than this past decade is freelancing on his finances, you're a fool.

[Scipio2009]

But If he sided with Floyd he would be a knowledgeable accountant right?

Siding for/against Floyd is beyond the point; accuracy of information is key though.

Floyd's accountant/financial person filed for an extension into an installment plan to pay whatever is still owed in taxes from what Floyd earned in 2015.

No notice from the IRS, no mention of any tax penalty for failure to pay in a timely manner, no lien against any assets that Floyd owes.

Why folks so deliberately ignore context here is beyond me

[satiev1]

The fact that you earnestly think that Floyd Mayweather Jr over 17 years into a run of million dollar paydays (allegedly debuted for $100k), and Al Haymon in his corner for more than this past decade is freelancing on his finances, you're a fool.

Show me the signed IRS power of attorney form signed by floyd with your name on it. Fact is you or me have no idea how much floyd owes to the IRS and how much he has paid out.

[GGG Gloveking]

TBE doe...

Not only the best at making it, but the best at spending it. You gotta admire this guy...

MC Hammer is on that p4p list too