It Looks Like $ Problems For Mayweather

[Ray*]

His taxes are form his property if i remember correctly which was 6 million..
The Government automatically take their 7% of cut of the fight money before Mayweather even cashes his checks...

So how does owing 6 million when his networth is 150+ make him broke...?
he is the 4th highest paid athlete in the world..

The claims that he is broke is complete hating..

Thats how it works over here in the UK but if you're a boxer arent you suppose to be self-employed??? And if you're self-employed then you're responsible for filling your own tax.

[OnePunch]

This arguement that "7% was withheld for taxes" is absurd. Fighters are 1099 independant contractors, and NOT employees, thus they are exempt from federal withholding. In all my years in the business the only time I have seen money withheld for the federal government is for foreign fighters who fight in the US (30%, but they can file and get it back), or back child support or IRS leins if under court order.

[OnePunch]

This arguement that "7% was withheld for federal taxes" is absurd. Fighters are 1099 independant contractors, and NOT employees, thus they are exempt from federal withholding. In all my years in the business the only time I have seen money withheld for the federal government is for foreign fighters who fight in the US (30%, but they can file and get it back), or back child support or IRS leins if under court order.

[oc9979]

Lebron is earning more than Kobe

with endorsement he is. but earning he doesnt

[oc9979]

What does mike tyson has to do with Floyd mayweather?
I explain this to you already ...

Is it believable Chris Webber signed a $122,718,750 contract with the kings
Is it believable Alexander Ovechkin signed a $124,000,000 contract with the capitals
Is it believable Rashard Lewis of the Orlando Magic signed a $126,000,000 contract.
Is it believable Fernando Alonzo of auto racing singed a $160,000,000 just to race cars?

You wouldnt believe the amount of money business pay athletes for their services...but like it or not it happens...

and according to sports illustrated WWE paid Mayweather his money.

not horus
not godzhand

but you didnt answer the question. you are copying and paste something you already posted

[MetalVomit]

What does mike tyson has to do with Floyd mayweather?
I explain this to you already ...

Playing dumb now? The question I posed is directly related. Tyson supposedly made 3.5 million for a temporary appearance for WWE, Mayweather supposedly made 20. Do you really believe Mayweather would make 16.5 million more than Tyson for the same work at the same place?

[oc9979]

This arguement that "7% was withheld for federal taxes" is absurd. Fighters are 1099 independant contractors, and NOT employees, thus they are exempt from federal withholding. In all my years in the business the only time I have seen money withheld for the federal government is for foreign fighters who fight in the US (30%, but they can file and get it back), or back child support or IRS leins if under court order.

this is what i thought but i have never seen a boxer get paid

[Horus]

This arguement that "7% was withheld for taxes" is absurd. Fighters are 1099 independant contractors, and NOT employees, thus they are exempt from federal withholding. In all my years in the business the only time I have seen money withheld for the federal government is for foreign fighters who fight in the US (30%, but they can file and get it back), or back child support or IRS leins if under court order.

Seperate from this:

Who do you think who give Nate Campbell his biggest payday..
Floyd Mayweather?
or
Manny Pacquiao?

[Ray*]

Tyson made a whole lot more than Mayweather did and he's broke as well. It's all about taxes and living an immodest lifestyle that winds up costing you everything. Personally I don't care but to say either way, that he does or he doesn't, when you don't know his situation is out of control. That's just reckless talking.

If Tyson could lose all his money then its safe to say any other boxer can.

[Horus]

Thats how it works over here in the UK but if you're a boxer arent you suppose to be self-employed??? And if you're self-employed then you're responsible for filling your own tax.

Thats what I was trying to tell them...
I used the 7% as a minimum standard.

Federal Taxes (7%) come out automatically..
People get caught up in tax evasion all the time...Just ask President ***** Nominees ..So I am not Saying floyd is not capable of tax evasion.

But if Floyd was cheating the government it wouldnt be from his fight night money or his endorsements ...

it would be from his property taxes and from not reporting money he makes from his mayweather promotions..

People usually get caught up when they dont report the income they make independently of somebody else...Not when they are dependent on somebody else like a fight night check or a endorsement..