Mayweather Jr's Tax situation

[Mr Anabolic]

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.

Even if they did put a couple mill away, they still end up broke.  Low IQ types are destined to end up broke.  The ghetto mentality is hard wired. 

[Desolate]

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

WTF does that have to do with his ability to pay the outstanding taxes?

[Desolate]

It turns out that this piece of shit owes the IRS 22.5 million!

Report: Boxer Floyd Mayweather Owes the IRS $22.5 Million

Documents made public seems to show that boxing great Floyd Mayweather owes the IRS $22.5 million on his 2015 taxes.
According to a lien filed by the Internal Revenue Service, the boxer still owes on his big payday from the Manny Pacquiao fight, ESPN reports.

The federal tax agency filed the lien against Mayweather with county officials in Las Vegas, according to reports. Mayweather responded by filing for a temporary reprieve with the U.S. Tax Court.

Mayweather also jumped to his Instagram account to insist that his “empire” is still financially solid.

“Believe half of what you see and none of what you hear, especially when it comes to media in this country,” the boxer wrote on a July 18 Instagram post.

“While everyone is counting my money and assuming the worst,” Mayweather added, “these are the facts… Uncle Sam, received $26,000,000.00 from me in 2015! What else could they possibly want?”

“Bottom line, everybody just wants to be a part of the “Money May” show, including the IRS!” he insisted.

Mayweather concluded insisting that “my empire is rock solid and intact.

The outspoken boxer’s IRS troubles come on the heels of an announcement that he has secured a match with MMA star Conor McGregor which is scheduled for August and could earn Mayweather up to $200 million.

Some speculate that Mayweather filed his temporary reprieve to give him time to collect from the McGregor fight to pay his 2015 debt.

Totally ridiculous.

[HockeyFightFan]

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

Why do you post in threads about money or rich people?

We don't need anymore proof that you're a brokeass idiot.

[SF1900]

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

Vince, is this the strategy that you use in order to increase the profit for the Caliber Fitness Empire?

[Rudee]

I think it's a financial move.  Asking for a two month extension to pay his Taxes, he would make an additional few million dollars in interest by leaving the money in where it's collecting interest at 10% or more.

[ChevChelios]

I think it's a financial move.  Asking for a two month extension to pay his Taxes, he would make an additional few million dollars in interest by leaving the money in where it's collecting interest at 10% or more.

You are dumb as fuck, nobody will pay him 10% interest 

[Skylge]

Even if they did put a couple mill away, they still end up broke.  Low IQ types are destined to end up broke.  The ghetto mentality is hard wired. 

Blacks often lose all their money to "hangarounds".....their posse, or whatever stupid ghetto fake name they give to things

Leeces would be more appropriate....it's what these vague never working blacks really are

[Skylge]

Habitual forgot to pay the IRS guy......


http://deadspin.com/floyd-money-mayweather-has-had-trouble-paying-his-tax-1796854654

[Parker]

Even if they did put a couple mill away, they still end up broke.  Low IQ types are destined to end up broke.  The ghetto mentality is hard wired. 

You know, when you get hit in the head a lot, one tends not to make the most sound decisions.

[IronMagazine.com]

Floyd is a little broke ass bitch.

[Rudee]

You are dumb as fuck, nobody will pay him 10% interest  

You think he has his money lying around in the bank savings account, earning .05% interest?  Dumbass.   The amount of cash he has, it would be in a high yield type of account at very minimum. 

[Royalty]

Floyd is a little broke ass bitch.

Not for long

[Dave D]

You think he has his money lying around in the bank savings account, earning .05% interest?  Dumbass.   The amount of cash he has, it would be in a high yield type of account at very minimum. 

Floyd once showed an ATM receipt with over $120 million in his account.  I think it was on an ESPN clip.

[jude2]

Keeping his money as long as he can makes no sense.  THe interest and penalties that the IRS charges is higher than anything you could earn.

[gmflex]

Regardless of what he owes to the IRS..
He is making at least $100 million guaranteed..
Regardless of what the ppv buys are..

Floyd will probably not pay his 2017 taxes on time..


   

[Desolate]

By 2024, I guarantee he will broke.

Guaranteed.

[bigkid]

Connor strikes me as a guy that will probably be broke in 20 years.

[DanzigBrah]

I would say give it 7-10 years after he retires he will be filing bankruptcy papers

[Vince G, CSN MFT]

Why do you post in threads about money or rich people?

We don't need anymore proof that you're a brokeass idiot.

I'll post whereever I please, guy.  So suck your father's dick

[stuntmovie]

I do Fed taxes for family and friends each year but always on time, so I never have to compute the penalty for late submissions .... BUT .... I believe that that penalty is pretty damn reasonable ... unless of course you happen to be 20+million in arrears.

And I have been told that it's pretty damn easy to "cheat a bit" if your main income source is as a "Personal Trainer".

I'm going to "advance my education" a  bit and do my best to compute the late submission fee on a $20,000,000 late tax obligation and pass it on to those GetBiggers who are in a similar situation.

Stand by to stand by.

[stuntmovie]

WARNING: THE FOLLOWING IS A BIT COMPLICATED BUT MAY BE OF SOME INTEREST TO A COUPLE OF GETBIGGERS. SO NOW I HAVE TO DO SOME MATHWORK AND POSSIBLY TALK TO MAYWEATHER WHOM I RARELY SEE ON THE GYM BASKETBALL COURT.

The late filing penalty is 5% of the additional taxes owed amount for every month (or fraction thereof) your return is late, up to a maximum of 25%.

If you file more than 60 days after the due date, the minimum penalty is $135 or 100% of your unpaid tax, whichever is smaller.

The late payment penalty is 0.5% (1/2 of 1 percent) of the additional tax owed amount for every month (or fraction thereof) the owed tax remains unpaid, up to a maximum of 25%.

For any month(s) in which both the late-payment and late-filing penalties apply, the 0.5% late-payment penalty is waived.

Your actual amount obviously varies depending on how much you owe and how late you are.

[Simple Simon]

WARNING: THE FOLLOWING IS A BIT COMPLICATED BUT MAY BE OF SOME INTEREST TO A COUPLE OF GETBIGGERS. SO NOW I HAVE TO DO SOE MATHWORK....

The late filing penalty is 5% of the additional taxes owed amount for every month (or fraction thereof) your return is late, up to a maximum of 25%.

If you file more than 60 days after the due date, the minimum penalty is $135 or 100% of your unpaid tax, whichever is smaller.

The late payment penalty is 0.5% (1/2 of 1 percent) of the additional tax owed amount for every month (or fraction thereof) the owed tax remains unpaid, up to a maximum of 25%.

For any month(s) in which both the late-payment and late-filing penalties apply, the 0.5% late-payment penalty is waived.

Your actual amount obviously varies depending on how much you owe and how late you are.

so how many apples does John have left?

[stuntmovie]

BETHERE, I don't know anything about John's apples, but if you ask me if the cat in the box is alive or dead, I could possibly be of assistance!

[ESFitness]

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 claims he's worth 800 million dollars which is probably his lifetime total earnings however he assumes we don't know that he has to pay out of his winnings maybe 10% to his manager 10% to his advisor 10% to his consultant and 10% or more to his training team and cut men and Dr for every fight and then yes to pay taxes on that so it's 800 million is more like 150 or something and that's not even including his so-called businesses and his staff of dozens and dozens if not hundreds of employees including his bodyguards alone making six figures each even though he's been fucking retired for two years. And he claims he's a businessman yet he can not read. Seriously the dude cannot read. He's illiterate. How can he read a prospectus or a balance sheet for quarterly reports and he said so-called businessman? And the dude walks around with that hundred something million-dollar check which he hasn't deposited yet showing it off to everybody yet he's too broke to pay the IRS?