Comments Thread For: Reports: Mayweather Also Owes IRS $7.2 Million For 2010

[PK3434]

why did y'all leave out his lawyer quotes

Floyd's a savvy investor and if he is investing money and getting a rate of return that far exceeds what he has to pay the IRS in interest, then any smart business person is going to take advantage of that deferral," Morse said. "So we've taken advantage of that

His tax lawyer used the term "savvy investor" like 5 times in an interview i read. Nobody believes that ****. I work with savvy investors all the time. These guys are masters at analyzing spreadsheets, are in tune with market trends, are constantly reading and researching, are taking trips to visit properties with teams of engineers, appraisers, and other investors, hiring firms that dig extremely deep to come up with complicated answers and complicated projections. These guys are very wealthy but don't spend 6 figures in strip clubs or splurge on depreciating assets. Floyd is a great boxer without any kind of education. He is not a savvy investor lol So nobody should ever include that in their article.

[1bad65]

So like I said, this criminal pays no taxes

You can say it over and over, but your own source says he does pay millions in taxes.

[SugarRaRobinson]

You can say it over and over, but your own source says he does pay millions in taxes.

Yeah .05%
U should try to remember it's all relative. So if his net worth is 71billion, how the fuk is his taxable income rate at .05%
?

People like u is why Warren Buffet, Bill Gates and others push eugenics. And I'm almost starting to agree with them.

Because only a COMPLETE imbecile would attempt to justify this type of charade .

[Metho_4u]

His tax lawyer used the term "savvy investor" like 5 times in an interview i read. Nobody believes that ****. I work with savvy investors all the time. These guys are masters at analyzing spreadsheets, are in tune with market trends, are constantly reading and researching, are taking trips to visit properties with teams of engineers, appraisers, and other investors, hiring firms that dig extremely deep to come up with complicated answers and complicated projections. These guys are very wealthy but don't spend 6 figures in strip clubs or splurge on depreciating assets. Floyd is a great boxer without any kind of education. He is not a savvy investor lol So nobody should ever include that in their article.

You can only go by what the articles say, I think it's all to hype a fight tbh, but some are too worried about Floyd's money

[bigjer88]

I don't know if you guys have been over this already...so apologies if you have.

There's a big difference between income and capital gains for tax purposes - they are taxed at different rates, and you are not taxed on capital gains until you sell your investments. So...

Warren Buffet can have investments valued [x] billions...and that amount can grow by [x] billions every year...but unless he sells off those investments, he most likely is not going to be taxed on them.

Floyd can make $250 million fighting Pac (or however much he made), but that is going to be taxed as INCOME...which is a much higher tax rate than the capital gains rate.

As for why Warren Buffet supposedly pays a lower tax on his income than people whose income is far less than his, my guess is that puts most of his income into charitable trusts, which are often tax deductible. I could be wrong about that and admittedly have not done the research, but that would be my guess.

[THEFRESHBRAWLER]

His tax lawyer used the term "savvy investor" like 5 times in an interview i read. Nobody believes that ****. I work with savvy investors all the time. These guys are masters at analyzing spreadsheets, are in tune with market trends, are constantly reading and researching, are taking trips to visit properties with teams of engineers, appraisers, and other investors, hiring firms that dig extremely deep to come up with complicated answers and complicated projections. These guys are very wealthy but don't spend 6 figures in strip clubs or splurge on depreciating assets. Floyd is a great boxer without any kind of education. He is not a savvy investor lol So nobody should ever include that in their article.

I didn't say it lol his lawyer did

[SugarRaRobinson]

I don't know if you guys have been over this already...so apologies if you have.

There's a big difference between income and capital gains for tax purposes - they are taxed at different rates, and you are not taxed on capital gains until you sell your investments. So...

Warren Buffet can have investments valued [x] billions...and that amount can grow by [x] billions every year...but unless he sells off those investments, he most likely is not going to be taxed on them.

Floyd can make $250 million fighting Pac (or however much he made), but that is going to be taxed as INCOME...which is a much higher tax rate than the capital gains rate.

As for why Warren Buffet supposedly pays a lower tax on his income than people whose income is far less than his, my guess is that puts most of his income into charitable trusts, which are often tax deductible. I could be wrong about that and admittedly have not done the research, but that would be my guess.

Most of it I have gone over, especially the part about complex charitable trusts. Solid post nevertheless.

[1bad65]

Yeah .05%
U should try to remember it's all relative. So if his net worth is 71billion, how the fuk is his taxable income rate at .05%
?

People like u is why Warren Buffet, Bill Gates and others push eugenics. And I'm almost starting to agree with them.

Because only a COMPLETE imbecile would attempt to justify this type of charade .

I know it's all relative. That's what the word "rate" means.

I'm not justifying anything. I'm simply pointing out you were incorrect, and that you confused tax rate with total taxes paid.

And cut the nonsense about eugenics. Who the hell mentioned that????

Don't get all worked up at me for teaching you something.

[Rip Chudd]

Omg. Who �� gives �� a �� fkk

This^^^^^^^^^^^

[Prince Madison]

pay your taxes you piece of ****.