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

[Shape up]

kid.....

Robert Raiola of O'Connor Davies estimated that Mayweather will pay $88.9 million in taxes from the Pacquiao fight.

I think that it will exceed $90 million, because Raiola based his estimation around Mayweather earning 230mil, and he collected more than that

..... how much money will Mayweather earn by deferring that $90 million payment for 12 months?

..... do you really think that Mayweather does not have a competent accountant, you silly kid?

are you trying to sound wise by dropping the word "kid" because youve failed dismally, you cannot comprehend simple sentences obviously by saying floyd owed 1.6 million when in reality it will be way more than that, what about 2016 ans 2017, hes planning on paying 2015 tax with this fight, whats he going to do when the tax is due from this financial year, who will he fight then to pay the bill, it will all come to a head at some stage, you have no idea knobjockey

[Spoon23]

Why is President Trump being talked about in this thread. Isn't this abour Floyd lol

[Scipio2009]

You're an absolute tripper!

Mayweather has requested an extension for his 2015 taxes...aka the Pacman fight. The total he owes for that year is not revealed but would be massive.

You should read the article before you embarrass yourself further.

The 1.6 million owed is a separate matter from the 2006 year if you had actually read the article......


I should have specified I was referring to Trump's en****** not himself when I said Trump had gone bankrupt. It was implied as I thought many knew about his history with bankruptcy but I should have been clearer for the nsb board.

That was in response so someone saying something about articles about Trump going bankrupt now which I have not seen.

I work as an accountant and wealth advisor so am very familiar with taxes and wealth generation which is why it is a shame Mayweather doesn't have better advice.

Bankruptcy of course doesn't mean the same thing as being broke but it is a last resort for a failing business or personal who is unable to pay their debts on time which is why the most successful businessmen have never gone bankrupt. (ie... Bill Gates, Zuckerberg)

I should specify that while I am a tax expert by trade I am not based in the USA so while the principles are the same for worldwide taxation I am not claiming to be an expert on the USA taxation system.

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

[Scipio2009]

its quite hard to believe that anyone could be as ****** as you are, the 1.6 million is for 2006, he still then owes for 2015 and on you gimp

... 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

[Scipio2009]

are you trying to sound wise by dropping the word "kid" because youve failed dismally, you cannot comprehend simple sentences obviously by saying floyd owed 1.6 million when in reality it will be way more than that, what about 2016 ans 2017, hes planning on paying 2015 tax with this fight, whats he going to do when the tax is due from this financial year, who will he fight then to pay the bill, it will all come to a head at some stage, you have no idea knobjockey

His 2016 taxes aren't in dispute (whether that changes or not is for Floyd and the IRS to know, but the fact that he didn't fight likely left the bulk of his income assessed to what he's built from his different investment assets). In terms of the 2017 tax bill, Floyd is likely to make a fortune off of the McGregor fight anyway, and he could have his accountants keep more of that money available in short-term CDs/treasuries, rather than chipmunking it anyway like he's seemed to have done with the rest of his money.

Lol

[The Big Dunn]

Skip and Shannon are about to discuss Floyd's taxes. Should be hilarious.

[Mr. 29K]

HOly **** I have to sig that bro I can't stop laughing!

You get your deserved Green K.

No prob. Lmao. Larry is probably jumping up and down right now. He'll probably ask to be cellys with Floyd.

[Hype job]

Where da slick bidness bruvvas at?

IMDAZED and The Big Dunn trying to make sense of all of this

[The Big Dunn]

Where da slick bidness bruvvas at?

IMDAZED and The Big Dunn trying to make sense of all of this

Lol. Make sense of what?

IRS says Floyd owes and has the money to pay but won't. If Floyd wants to fight the IRS, that's fine with me. I'm taking the IRS by KO.

[turnedup]

Your conflagration of investment terminology is hilarious. Gave me a good laugh, thanks for that.

Conflagration: an extensive fire that destroys a great deal of land or property.

Not sure you used that correctly but ok.