Mayweather Jr's Tax situation

[Royalty]

Floyd Mayweather asks IRS for temporary reprieve. He can't afford to pay his 2015 taxes until after he gets paid for his bout with McGregor.

http://www.espn.com/boxing/story/_/id/19952963/floyd-mayweather-leans-conor-mcgregor-bout-tax-petition-asks-irs-temporary-reprieve

[a_pupil]

hebrews are the goat financial managers.

this kind of stuff rebuts that black isrelite theory tbh. how can you be the real jews but so shit with money?

[ratherbebig]

as long as there will be new cars produced every year he will eventually be broke no matter how much he earns

[Simple Simon]

i read Holyfields book, he has a rant about how boxers end up broke and how they should just put a couple of million away and just forget about it as a fall back, then himself ends up on UK Celeb Big brother because hes broke.

[Powerlift66]

i read Holyfields book, he has a rant about how boxers end up broke and how they should just put a couple of million away and just forget about it as a fall back, then himself ends up on UK Celeb Big brother because hes broke.

Hiolyfield "spoke" at the AOBS (Barbell / Strongman dinner) last OCT.
1 hour of blabbering, last guy who should be giving out any sort of life advices.
We walked out 1/2 way thru it, it was embarrassing. All I could make out was the 1000 times he said "My Mamma, My Mamma"...

[rangerwil]

hebrews are the goat financial managers.

this kind of stuff rebuts that black isrelite theory tbh. how can you be the real jews but so shit with money?

U have some serious mental issues with this constant stupidity.
What the fuck is wrong with you?
Sooo fucking annoying. You sound pretty fucking stupid to be honest.

[Skylge]

Arrogant prick, usually such guys think that all they can keep 100% of what they earn......you'd think they would hire the best lawyers, fiscalists and accountants, but apparently not....

[Redux]

negro money management
I'm sure McGregor would have loved this information a few weeks ago when they were signing contracts
he could have held out for a much bigger cut

[Simple Simon]

[honest]

Mayweather will eventually be as broke as Tyson one day,

[Dave D]

Mayweather will eventually be as broke as Tyson one day,

But he will still be rich.


These guys aren't broke like old time boxers from the 20's - 60's. Todays champions have lucrative speaking engagement and appearance fees.

The "broke" they'll experience will still allow them to be millionaires. Just not filthy rich like their were before.

[Vince G, CSN MFT]

Floyd Mayweather asks IRS for temporary reprieve. He can't afford to pay his 2015 taxes until after he gets paid for his bout with McGregor.

http://www.espn.com/boxing/story/_/id/19952963/floyd-mayweather-leans-conor-mcgregor-bout-tax-petition-asks-irs-temporary-reprieve

That's actually normal for the wealthy..its to make even more money on the compounding interest

[Mr Anabolic]

That's actually normal for the wealthy..its to make even more money on the compounding interest

Not much interest to compound... interest rates have been very, very low since 2009.  You might make 0.5% on a simple saving account, a little more on longer term CDs.  Keeping large amounts of cash in a saving bank these days is foolish.  I remember in the early/mid 80's I was earning 15-16% on a simple savings account... now that was something.  

[Yamcha]

you can break out of shawshank, but you'll end up homeless in Mexico.

[honest]

There's greater yield out there to an active smart investor sadly there are not to many of them, and generational wealth that has been historically protected by interest rates and passive property investments are under duress from the spending habits of the useless second and third family generations, I manage assets for a living I see it everyday, its the great equalizer in life in many cases rich people breed spoilt dumb kids who have no idea how to manage wealth or how to change investment strategy as governments and markets change, Rags to riches to rags again all in three generations, you get the occasional smart guy who will invest in his kids, most lose everything leaving their business to their kids, always appoint people on merit not who they are.

[Dave D]

There's greater yield out there to an active smart investor sadly there are not to many of them, and generational wealth that has been historically protected by interest rates and passive property investments are under duress from the spending habits of the useless second and third family generations, I manage assets for a living I see it everyday, its the great equalizer in life in many cases rich people breed spoilt dumb kids who have no idea how to manage wealth or how to change investment strategy as governments and markets change, Rags to riches to rags again all in three generations, you get the occasional smart guy who will invest in his kids, most lose everything leaving their business to their kids, always appoint people on merit not who they are.

Honest can you speak on all of these NFL and NBA players get "robbed" by their financial advisors/wealth mamagers?

[wes]

BITCH BETTER HAVE MY MONEY !!

[Desolate]

How much is this fucker supposed to be worth? I thought it was a couple hundred million.

What? He's claiming he's broke?

[wes]

How much is this fucker supposed to be worth? I thought it was a couple hundred million.

What? He's claiming he's broke?

Same here.......fucking unbelievable.

[Moontrane]

 

[Desolate]

Floyd Mayweather Jr. petitioned the U.S. Tax Court last week as the boxing champ seeks more time to pay his 2015 taxes.

Mayweather's assets are “restricted and primarily illiquid,” and he asked the court for a three-month installment agreement, according to Law360, the first outlet to report the filing. That would allow Mayweather to pay off the tax bill with proceeds from his Aug. 26 bout with UFC's Conor McGregor in Las Vegas, a match where the 40-year-old boxer is expected to make more than $100 million.

“The taxpayer has a significant liquidity event scheduled in about 60 days from which he intends to pay the balance of the 2015 tax liability due and outstanding,” Mayweather's attorney, Jeffrey Morse, wrote in the filing per Law360.

The IRS resisted Mayweather's installment request, saying Mayweather had enough assets to cover the tax bill. Mayweather's earnings in 2015 were estimated to exceed $200 million, with most of the income coming from facing Manny Pacquiao in May of that year.

Mayweather had previously petitioned the U.S. Tax Court over his 2006 tax return. That petition, originally filed in 2013, was settled before a trial last year. Mayweather agreed to pay the $1.627 million tax bill with no penalty, according to the judgment entered.

They're saying that he could make 100 million off the McGregor fight and he's complaining about a 2015 tax bill?

The piece of shit can't even fight. I doubt he could even knock out a girl.

He's claiming he doesn't have that much in liquid assets (cash).

Bullshit.

How can you have that kind of money and not keep at least ten percent of it as accessible cash?

I hope McGregor kicks the fucking shit out of this a-hole.

[Vince G, CSN MFT]

They're saying this monkey could make 100 million off the McGregor fight and he's complaining about a 2015 tax bill?

The piece of shit can't even fight. I doubt he could even knock out a girl.

He's claiming he doesn't have that much in liquid assets (cash).

Bullshit.

How can you have that kind of money and not keep at least ten percent of it as accessible cash?

I hope McGregor kicks the fucking shit out of this a-hole.

Do you think that Floyd is doing his own taxes???    obviously he has an accountant

[FREAKgeek]

How much is this fucker supposed to be worth? I thought it was a couple hundred million.

What? He's claiming he's broke?

He's not broke. He has plenty of assets. Even guys like trump don't hold much liquidity. And the IRS claims he does have it.

[FREAKgeek]

i read Holyfields book, he has a rant about how boxers end up broke and how they should just put a couple of million away and just forget about it as a fall back, then himself ends up on UK Celeb Big brother because hes broke.

Evander forgot about condoms.

[SF1900]

Do you think that Floyd is doing his own taxes???    obviously he has an accountant

Vince, who does your taxes?