Mayweather hasn't paid taxes for Pacman fight

[The Can Opener]

https://www.forbes.com/sites/robert...cgregor-fight-to-pay-2015-taxes/#cb39a854cbba

Apparently Mayweather has some serious back taxes to pay and doesn't have the cash to do it. He says all his money is tied up in things he can't liquidate. So he is suing the IRS to allow him an extension so he can use the Conor fight purse to cover his Pacman earnings among other things.

I'm not a mathemagician but if he has to cover the tax on 230 million for the Pacman fight plus the 100 to 400 million for the Conor fight that has to be a significant amount.

Obviously Floyd isn't broke(quite the opposite)but it's still amusing to see the guy who sleeps on piles of cash say he doesn't have any cash. It also helps explain the Conor fight. Why pay taxes with your own money instead of paying them with a gigantic payday you get for fighting a no hope MMA guy?

 

[BluntTrauma21]

yeah and the thing is he did the same shit or something very similar when he came back for the Marquez fight. Pay your fucking taxes bro!

 

[Sir Punchalot]

Genius.

 

[ICHEERTHEBULL]

That's what happens when you're a millionaire living a billionaire lifestyle

 

[Social Distance Warrior]

Yea, taxes often come back to bite many athletes in the ass...

Pay your fucking taxes....the IRS does not mess around.

 

[Noveltymortar]

Planes, houses, Bugattis at 2 mil a pop, making it rain, etc. The odds of Mayweather being old and broke are worth betting the house on. There is no way he is able to finance his current lifestyle once the paydays are gone, and I would be shocked if he has the willpower and discipline to start selling off assets once he retires. And by the way, the maintenance, upkeep, insurance, taxes on all those toys and houses must be absolutely massive.

 

[bad seed]

Planes, houses, Bugattis at 2 mil a pop, making it rain, etc. The odds of Mayweather being old and broke are worth betting the house on. There is no way he is able to finance his current lifestyle once the paydays are gone, and I would be shocked if he has the willpower and discipline to start selling off assets once he retires. And by the way, the maintenance, upkeep, insurance, taxes on all those toys and houses must be absolutely massive.

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As far as road going cars its the Veyron. Its projected regular expenses are staggering for a car that is made for public (albeit very wealthy) use.

$350,000 is the initial down payment according to Bugatti that you have to have in order to even consider buying one.

$24,000 is what it costs to lease a Bugatti Veyron on a monthly basis. But there are a few caveats. You can only drive 2500 miles a year (technically 7 miles a day) and you can lease only for 5 years.

$40,000 is what it's going to cost you just to deliver your Veyron to American shores. Yes, for the price of a 2013 Infiniti G37 Coupe, yours is just delivered.

$2500 is the average monthly insurance that one owner reported on their Bugatti Veyron.

$140 is the average price for a fill up of gas in the United States. City gas mileage is 8 and highway isn't much better at 13. The 1001 horsepower 8-liter engine is a thirsty beast and with gas hovering around $5 a gallon and your 26.4 gallon fuel tank, fill-ups alone are around $140.

And upon delivery, there are certain maintenance items you are required under contract to do which includes a routine annual maintenance of $20,000, detailing services around $10,000, a wheel and tire replacement every 10,000 miles with a price tag of $50,000 for a set of tires.

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I can deal with the ~1mil msrp, but paying 50k for tires every 10k miles? fuck that.


plus they have the worst depreciation of any car in history.

 

[Sunfish]

Trump says he doesn't pay taxes because he is a genius who understands tax rules. Just pay the fucking money. I don't owe back taxes or interest because I understand tax rules and penalties start the tax man rubbing his balls on your face.

 

[randomg1t]

but he's so smart with his money!

 

[nastyleft]

Didn't know we had so many CPA's in Sherdog.


Sounds like the IRS knows there's a lot of money coming to them and are turning the screws to get more of it sooner than planned. The statement about the IRS getting frosty when they saw the financial statements is spot on.... It's common, especially when Administrations change. I know guys that make much less than him that owe shit from 2012-2014. And they make millions AND pay their taxes. Complicated scenarios make for complicated tax filings... Dude could send them $50M and they'd say "fuck you we need the other $150M by August"... Get off your soapbox gentlemen.

 

[Sunfish]

Didn't know we had so many CPA's in Sherdog.


Sounds like the IRS knows there's a lot of money coming to them and are turning the screws to get more of it sooner than planned. The statement about the IRS getting frosty when they saw the financial statements is spot on.... It's common, especially when Administrations change. I know guys that make much less than him that owe shit from 2012-2014. And they make millions AND pay their taxes. Complicated scenarios make for complicated tax filings... Dude could send them $50M and they'd say "fuck you we need the other $150M by August"... Get off your soapbox gentlemen.

I'm a qualified accountant and so is my father. My uncle is a tax inspector. Floyd certainly has the money to draw this into a protracted legal case. If he loses the interest will bite him. Presumably he has good advisors.

 

[KillerIsBack V2]

So he's taking advantage of loop holes while still maintaining rich lifestyle. I still don't see a problem.

Trump says he doesn't pay taxes because he is a genius who understands tax rules. Just pay the fucking money. I don't owe back taxes or interest because I understand tax rules and penalties start the tax man rubbing his balls on your face.

Trump could have continued living the same life style and died comfortably without paying those same taxes tho if he never went to office...

Didn't know we had so many CPA's in Sherdog.


Sounds like the IRS knows there's a lot of money coming to them and are turning the screws to get more of it sooner than planned. The statement about the IRS getting frosty when they saw the financial statements is spot on.... It's common, especially when Administrations change. I know guys that make much less than him that owe shit from 2012-2014. And they make millions AND pay their taxes. Complicated scenarios make for complicated tax filings... Dude could send them $50M and they'd say "fuck you we need the other $150M by August"... Get off your soapbox gentlemen.

This^ is the only comment in this thread that's not complete bullshit. Mayweather and all his businesses are certainly and obviously not suffering...

 

[Liquid Smoke]

Looks like PBF is good at dodging punches and financial obligations.
Unfortunately for him, father time and the IRS are undefeated.
Conor bless.

 

[Hagler]

Shame on the IRS for harassing those who barely make a living.

 

[King Ghidorah]

This is gonna be a question for someone much smarter than I am when it comes to tax knowledge. Why don't they freeze his assets i.e. bank accounts, investment accounts, leans on properties etc. I remember one year before I started making good money, I owed the IRS and CA a combined sum of 1200.00. I swear it was past due by no more than three months, and they began garnishing my wages. They did not mess around with me at all. How the hell do these athletes make it years!! without the IRS freezing everything they own.

 

[Sunfish]

This is gonna be a question for someone much smarter than I am when it comes to tax knowledge. Why don't they freeze his assets i.e. bank accounts, investment accounts, leans on properties etc. I remember one year before I started making good money, I owed the IRS and CA a combined sum of 1200.00. I swear it was past due by no more than three months, and they began garnishing my wages. They did not mess around with me at all. How the hell do these athletes make it years!! without the IRS freezing everything they own.

If you had more liquid cash you can hire lawyers who challenge everything the government does. If you have multi millions you can protract things for ages.

 

[D 1 Wrestler]

Conor will be sure to bring this up on the press tour. The public will eat it up that Floyd spends more than he makes and is headed towards bankruptcy, this will hurt his ego almost as bad as he gets butt hurt when other boxing greats don't put him in their top lists

 

[Yourstepdad]

Planes, houses, Bugattis at 2 mil a pop, making it rain, etc. The odds of Mayweather being old and broke are worth betting the house on. There is no way he is able to finance his current lifestyle once the paydays are gone, and I would be shocked if he has the willpower and discipline to start selling off assets once he retires. And by the way, the maintenance, upkeep, insurance, taxes on all those toys and houses must be absolutely massive.

He is already halfway through his money

 

[Terry Noonan]

What a moron. Constantly posts pictures of bundles of cash and says he's cash strapped. Idiot. Hope they seize shit.

 

[Sunfish]

What a moron. Constantly posts pictures of bundles of cash and says he's cash strapped. Idiot. Hope they seize shit.

Do you understand how tax collection works? He has enough money to drag it out for years to get a settlement. They're seizing nothing. Same as Ronaldo in football.