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

[Manic Shot]

Floyd is the true TBE. TAX BY EVASION

[turnedup]

he OBVIOUSLY has an accountant

did not bother reading the rest

you guys are going FULL ******

Where did I state "He doesn't have an accountant" and for the record the only time I mentioned CPAs was in discussion of OTHER people. So again, where did I state he doesn't have an accountant? Yet you toss the word ****** around like it's cool, maybe try reading what I wrote instead of what you THINK I wrote.

[pasawayako]

Mayweather has IRS problem

Knew he was broke all along, he will be fighting for years to come yet

Let's see how Floyd stans
Deal with this after the fun they had at pacmans tax issue

Floyd is a millionaire in america, spend and throw away money on the strippers while pac in the philippines is a senator and have hundreds of investment and a billionaire.

[cliccmade]

Most of you posting dont know what your talking about. This is how men of wealth deal with the IRS. They wait it out and settle on the amount which ends up being less than they owe. It's considered smart. Odd how we can access Mayweathers tax information but cannot access Trumps tax information.

[aboutfkntime]

Theres penalties for normal folk, his lawyers just managed to negotiate no late fees with the IRS.

I would rather do it right the first time than pay for lawyers to sort it out years later, lawyers arent free so in the end I dont know if its worth it all. It is nice to know where you stand financially instead of having all these backlogs of taxes, then you get into spending money you dont have which buying million dollar bugattis is a good way to do that.

not arguing with any of that

but.....

the interest alone on 1.6mil for 11 years, is at least 900k

and there were no financial penalties

Im pretty sure MC hammer had accountants too, didnt stop him from going broke.

Pacquaio has accountants too, Arum hires them.

true, but those guys were not saying that Mayweather will go broke..... they were saying that he does not pay his taxes because he doesn't know how to read etc

all I was saying is, his accountant can read..... and the fact that they likely saved at least 900k, 1mil+ if the amount owed is reduced even further..... is likely not unintentional

the fact is, it played in their favor..... so it is more likely that his accountant was disputing the amount, and/or knew what he was doing legally, which is why there are no late penalties..... than Floyd Mayweather pulling a homer because he cannot read

homer
the ability to succeed despite great stupidity

these guys are wetting themselves over nothing

[sicko]

Bet against yourself vs McGregor and take a DIVE if it is that bad and walk away with even more than the 300 Million he is said to make!

He can always just sell his 0 if things ever get that bad but I seriously DOUBT he is in as bad of a condition financially as some on this forum will make it out to be

[turnedup]

Floyd Mayweather will gross between $220 million and $230 million for his May 2 fight against Manny Pacquiao, but how much will he really make for his welterweight championship victory?

..... tax accountant Robert Raiola of O'Connor Davies estimates that as a Nevada resident, and obviously in the highest tax bracket on the federal level, $88.9 million in taxes will come out. That assumes that he deducts five percent of that $220 million ($11 million) on fees such as training costs. That would leave him a net of $131 million before paying out his employees.

Because Mayweather owns his own business in Mayweather Promotions, he's not paying the same promotion fees that Pacquiao has to pay to Top Rank CEO Bob Arum and Top Rank itself, which will likely come out to tens of millions of dollars. Mayweather can also attribute business expenses generally associated with Mayweather Promotions to further deduct expenses from his gross total. Although there is no limit on deductions, they have to be considered reasonable according to Internal Revenue Service standards.

Mayweather also likely generated millions of dollars in merchandising. Hats in the MGM Grand hotel lobby cost $50 and up, and the store was mobbed on fight weekend. While there were items with both Mayweather and Pacquiao, the majority of sales were for Mayweather "The Money Team" items.

Mayweather has filed for more trademarks than any athlete in history. He owns 16 trademarks and has more than 120 trademark applications pending.

Taxes and fees aside, it's an unprecedented payout. Based on the total time of fighting over 12 rounds, Mayweather earned $6,111,111.11 a minute, which breaks down to $101,851.85 a second. In an effort to put $220 million into perspective, consider the following list as a way to wrap your mind around it.

Mayweather's payout figure ...

• Exceeds value of at least three NHL franchises, according to Forbes -- the Carolina Hurricanes, Columbus Blue Jackets and Florida Panthers.

• Exceeds the current payroll of every team in the NFL, NBA, NHL and MLB, with the exception of the Los Angeles Dodgers.

• Is more than seven times the highest salary in MLB this season -- which belongs to Dodgers pitcher Clayton Kershaw.

• Is more than all but seven of the richest playing contracts in North American sports history.

• Exceeds the construction and renovation costs of at least three -- and possibly as many as seven -- stadiums used for the 2014 World Cup in Brazil.

• Exceeds the gross domestic product of Kiribati, an island nation in the Pacific with a population of more than 100,000.

• Is nearly $100 million more than what Michael Jordan earned in salary over his playing career (adjusted for inflation).

• Is more than seven times the amount the New York Mets will pay former player Bobby Bonilla in deferred compensation from 2011 to 2035.

• Exceeds the U.S. box office gross of all but 10 motion pictures in 2014.

• Is more than four times the amount the Grateful Dead will gross in ticket sales for its five reunion concerts this year.

All that for 36 minutes of labor.





he broke doe

nothing liquid doe

will be fighting for peanuts doe

And all of that means nothing. The mere fact he doesn't have liquidity to pay a few million bucks is alarming and troubling. He'll be plenty liquid after this fight but at the rate he's obviously burning through freed capital someone needs to sit him the fk down and remind him that its not always going to be the case. This is the last person I want to go broke but fk it if he ain't trying to go broke.

[big_james10]

Ohhhh....... Lets see. This thread will be hilarous. Floyd vs Manny... Floyd fans **** on Manny before for owning tax and now this. Manny groupies will forget Manny owed tax before and will sh#t on Floyd.


Let's get ready to rummmmmmmblleee

True dat! The story doesn't say how much he owes, but his haters will jump all over it, claiming that he is broke, etc, etc. If I remember correctly, two years before the Mayweather fight, Pacquaio owed the IRS $16 million and the Filipino government $70 million. I am sure all the Floyd haters will forget about that.

[Cracaphat]

I remember the Evander Holyfield quote reading this article.
"I'm not broke,I'm just not liquid." And we saw how that turned out.

[aboutfkntime]

Well dude he needs to fire him because he is obviously not taking care of business. How the hell would Floyd knows that he still owes taxes back from 2015 if he is trusting someone else to handle those affairs for him?

He has trusted his accountants to handle all of that and so far have failed do so. So what Mayweather needs to do his hire a new team of accountants that is going to be responsible and report to him and pay all of his bills on time before the U.S. government comes in and seizes and freezes his entire estate and all of his bank accounts in order to pay off the debts he owes them.

he will have MILLIONS in mid-term investment accounts

likely HUNDREDS of millions, his entire Pacquiao cheque plus the 200mil he had before that

that is why the IRS objected, saying that he could simply transfer money from another account..... because they know exactly how much money he made in that fight

I don't think we will ever need to take up a collection for him

Mayweather is giving the IRS his middle finger, because they are well aware that he netted a NINE-FIGURE sum only 2 years ago

surely nobody thinks that Mayweather does not have an accountant.....?

..... and surely nobody thinks that the IRS is somehow unaware that Mayweather/Pacquiao generated more than half-a-billion dollars in 2015?