Originally posted by aboutfkntime
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Comments Thread For: Mayweather Owes Taxes, Asks IRS to Wait For McGregor Fight
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Last edited by Shape up; 07-09-2017, 07:22 PM.
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Trump and many others do this each year. If you critic's would bother to read this Tax document you would (hopefully) learn that this is not uncommon for the wealthy. It's amazing how quickly the media released this info on Floyd yet, the media pretends that Trump's tax returns are nowhere to be seen. Not to mention, Trump himself admitted to using these "loopholes" to avoid paying any taxes for decades.
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Originally posted by DeadLikeMe View PostWesley Snipes got in trouble because he didn't file taxes for like 8 years. Floyd filed, he just didn't pay.
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Originally posted by GrandmasterWang View PostYou do realize Trump has gone bankrupt before right? That is factual. I haven't heard of any articles saying that he is at risk of going bankrupt again now?
Bankruptcy doesn't mean you have no money.
Chapter 13 Bankruptcy means you don't want to pay companies what they expect to get paid.
Chapter 7 Bankruptcy means you CAN'T pay what they expect to get paid.
In neither situation are you actually "broke".
In Chapter 13 you just have to prove that there's no way you can ever pay the debtors at the rates they're charging, but you can pay something.
In Chapter 7 and 11, you just have to prove that you don't make enough to pay them in 5 years or less.
In both situations, you'll come out better off than when you filed.
If you're starting a new job after a layoff, and you're taking a pay cut, bankruptcy is the best decision a person can make as long as you understand you're paying everything with cash for the next 5 years - which isn't a bad thing either.
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In the next 5 years we will see floyd in the street collecting garbage to support his crack addict family and self.
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