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

[Hype job]

Lmao right now Im laughing at Mayweather's BScene personal accountants such as Scipio's ***g0t ass.

Dude goes around acting like he knows it all and look what comes up now.

Floyd got money doe.

We eatin'

[champion4ever]

Let me wrap this up for most of you can understand the U.S. Tax laws. If you are under that upper income tax bracket of between 38-40 percent like Floyd Mayweather, Jr and Warren Buffet, then it would be very wise of you to find some kind of charitable foundations and donate $ Millions to it.

Because the fact of the matter is, the more money you keep the more the IRS is going to take from you. It's just that plain and simple.

You either give your money away and then file it at the end of the year as a write off or a deductible when you are paying your taxes or risk losing it all through taxation.

[Tankdestroyer]

not a sight of p4ptbe? hopefully he died or something good like that

[Hype job]

Poor Floyd is being swindled by his team.

'TMT' lmfao.

[.:: JSFD26 ::.]

We eatin'

Dey always trynna keep a bruvva down. But Floyd be a smart bidness man doe.

[.:: JSFD26 ::.]

you needed more evidence of that? they are so easily distracted with nonsense that they dont realize what is actually happening. they got them believing supply drives demand and not the other way around. it must be really fun to be a strategist and come up with ways to promote this crap to the american people.

As long as they are living their happy lives, people don't care. The media, music, movies, shows, etc are just ways of distracting people from seeing what's really going on out there. It all keeps their minds/eyes off of things.

[Beercules]

Poor Floyd is being swindled by his team.

'TMT' lmfao.

[WesternChamp]

not a good look for TBE....

[Hype job]

We beez investing and sheeit!

[SugarRaRobinson]

Let me wrap this up for most of you can understand the U.S. Tax laws. If you are under that upper income tax bracket of between 38-40 percent like Floyd Mayweather, Jr and Warremn Buffet is, then it would be very wise of you to find some kind of charitable foundations and donate $ Millions to it.

Because the fact of the matter is, the more money you keep the more the IRS is going to take from you. It's just that plain and simple.

You either give your money away and then file it at the end of the year as a write off or a deductible when you are paying your taxes or risk losing it all through taxation.

The entity is called a charitable complex trust, where legally u don't own it as your name isn't attached to the trust, but u control everything in the trust.

So if everything I own is in a complex trust, and u try to sue me, u won't get a dime even if I'm liable.

The real problem with this sort of indemnified entity is that u really shouldn't try to use it unless your in that Super rich club who would then grant u permission to use it and evade all your taxes . Because I've known average Joes who have mastered the art of setting up complex trusts but ultimately went to jail or were threatened not to teach it to others.

But here's the kicker: you donate millions into the charitable trust that u control and all your money comes right back to u.

That's why Warren Buffet pays NO taxes, cause he's in the club, and therefore gets a pass to operate in that manner.