Originally posted by featherFist
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Pacquiao's net assets only total 26 million, how is that possible?
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A fighter is lucky to walk away with 1/3rd of their actual purse by the time the taxman and expenses are paid.
You also have to take into consideration tax shelters and other investments that will not show their true net worth.
It would not surprise me if Manny had at least twice that amount is total assets. It is just for higher income holders, hiding some of that income till far into the future is a must. Now I am not sure what sort of income laws are in place in the Philippines, but depending on what they are, Manny could end up being double taxed since he has to pay some US taxes and probably some taxes for money he brings into his own country.
It is the same way for people saying Floyd is always broke. Yes Floyd is careless with his money, but I guarantee you he has money stashed away in some shelters also.
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Originally posted by Twako View Post******, clark air base is where most **********s were. they'd **** any GI stationed over there to get a chance to go to the US dimwit.
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Originally posted by jrosales13 View PostOne guy keeps spending the money quicker than he can make and refuses to pay taxes an resolving legal issues, the other spends it on **********s, giving it away to Pinoys in poverty and getting screwed out of the money from members of his team.
5 years after they're done fight they won't have any money.
So I don't get the bickering back and forth between both fan bases on who has what in terms of money.
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Originally posted by deanrw View PostA fighter is lucky to walk away with 1/3rd of their actual purse by the time the taxman and expenses are paid.
You also have to take into consideration tax shelters and other investments that will not show their true net worth.
It would not surprise me if Manny had at least twice that amount is total assets. It is just for higher income holders, hiding some of that income till far into the future is a must. Now I am not sure what sort of income laws are in place in the Philippines, but depending on what they are, Manny could end up being double taxed since he has to pay some US taxes and probably some taxes for money he brings into his own country.
It is the same way for people saying Floyd is always broke. Yes Floyd is careless with his money, but I guarantee you he has money stashed away in some shelters of frozen turkeys also.
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Originally posted by jrosales13 View PostOne guy keeps spending the money quicker than he can make and refuses to pay taxes an resolving legal issues, the other spends it on **********s, giving it away to Pinoys in poverty and getting screwed out of the money from members of his team.
5 years after they're done fight they won't have any money.
So I don't get the bickering back and forth between both fan bases on who has what in terms of money.
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