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Started By
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Floyd Mayweather owes 2015 federal taxes, asks for installment plan
Posted on 7/9/17 at 8:10 am
Posted on 7/9/17 at 8:10 am
quote:
While The Money Team may have money, apparently it isn’t always easily accessible
quote:
David Greisman of BoxingScene.com reports that Mayweather still owes federal taxes for 2015 and is petitioning the U.S. Tax Court for an installment agreement, specifically citing what appears to be his scheduled Aug. 26 clash with MMA superstar Conor McGregoras a “significant liquidity event” from which he intends to pay the remaining balance.
quote:
Boxing Scene cites a Law360 report describing the apparent dispute between Mayweather and the IRS. “The agency said that Mayweather had various options available … including by selling property, withdrawing cash from other accounts or taking out a loan.”
In other words, Mayweather argues he’s too illiquid to immediately pay his 2015 taxes while the IRS believes some of his assets could be converted into cash or Mayweather could take out a loan to pay what he owes.
quote:
2015 is the year Mayweather reportedly earned $220-230 million for defeating Manny Pacquiao in what was billed as boxing’s Fight of the Century. Once the McGregor clash takes place towards the end of the summer, Mayweather will now have to pay taxes on a possible $400 million in earnings as well as cover his past IRS debts.
Money, Money, Money ... Money
10
Posted on 7/9/17 at 8:11 am to Will Cover
Wasnt he just photographed moving millions in cash in his Escalade?
Posted on 7/9/17 at 8:13 am to Will Cover
Yeah, he broke.
This post was edited on 7/9/17 at 8:17 am
Posted on 7/9/17 at 8:14 am to Hangover Haven
Plz be broke plz be broke.....
Posted on 7/9/17 at 8:15 am to Will Cover
Posted on 7/9/17 at 8:16 am to Will Cover
I really can't believe how stupid these pro athletes are when it comes to finances. They act like their income is a bottomless well and spend accordingly. If I was the tax judge I'd force him to come up with the entire amount right away. Liquid or not he can make the payment one way or another. Maybe selling some of his "precious " shite will edjamacate him.
Posted on 7/9/17 at 8:20 am to bengalbait
They aren't going to go easy on him when he posts pics of hard cash all the time. It's evidence that you are liquid.
Posted on 7/9/17 at 8:24 am to bengalbait
You don't just hold cash for no reason when you have Mayweather money. You turn it into more cash. Being illiquid doesn't mean he blew all his earnings - I'm sure a lot of it is tied up in long-term investments.
Also he probably has enough liquidity to pay what he owes but is being advised he can come out ahead by making the IRS wait and profiting off of it in the meantime. It's the same reason that you'd never want to pay off your entire apartment lease in advance. If you have the money, make it work for you while you can.
Also he probably has enough liquidity to pay what he owes but is being advised he can come out ahead by making the IRS wait and profiting off of it in the meantime. It's the same reason that you'd never want to pay off your entire apartment lease in advance. If you have the money, make it work for you while you can.
Posted on 7/9/17 at 8:25 am to Will Cover
He must have pit his money on LSU to win the National Championship.
Posted on 7/9/17 at 8:49 am to The Sultan of Swine
quote:
I'm sure a lot of it is tied up in long-term investments.
Posted on 7/9/17 at 8:57 am to Will Cover
I would, but I can't. You see I have a checking and a savings. All the money is in the savings and it'll take 3 business days to transfer and I don't think it will go through.
Posted on 7/9/17 at 9:05 am to upgrayedd
Yeah I laughed at the long term investments comment too. Mayweather will be broke too just like all the other athletes that insist on supporting a possee and flashing money .
Posted on 7/9/17 at 9:06 am to The Sultan of Swine
quote:
I'm sure a lot of it is tied up in long-term investments.
Of course, its tied uo in his balanced portfolio of stocks, bonds, real estste, bitches snd ho's.
Posted on 7/9/17 at 9:07 am to The Sultan of Swine
Yes he still has a lot of money but I ran some rough numbers around the time of the Paq fight, he had blown through half of his career earnings at that time. Hopefully he has invested the rest wisely.
Posted on 7/9/17 at 9:12 am to CajunAlum Tiger Fan
I've said this for a few months now and everyone irl keeps slamming me. There is a reason mayweather took this fight, and it sure as hell ain't bc Connor "called him out". Dude knew he was gonna need to come up with some serious cash soon. You've seen this same song and dance before. Athlete A makes enough money for 10 lifetimes, but somehow ends up in financial trouble bc every Tom dick and harry is hanging around asking to be a part of the entourage to benefit.
But yea ole "money mayweather" is so smart with his money. Uncle Sam is gonna get his piece of the pie, period. Look at all the other athletes, rappers, and actors that made a ton of money and are now dirt poor. It happens and it's amazing it does.
But yea ole "money mayweather" is so smart with his money. Uncle Sam is gonna get his piece of the pie, period. Look at all the other athletes, rappers, and actors that made a ton of money and are now dirt poor. It happens and it's amazing it does.
This post was edited on 7/9/17 at 9:13 am
Posted on 7/9/17 at 9:37 am to bengalbait
quote:
I really can't believe how stupid these pro athletes are when it comes to finances.
Floyd can't even read. I can believe it
This post was edited on 7/9/17 at 9:38 am
Posted on 7/9/17 at 10:10 am to jeff5891
quote:
You don't just hold cash for no reason when you have Mayweather money. You turn it into more cash. If you have the money, make it work for you while you can.
Haha everyone hates this correct answer
Posted on 7/9/17 at 10:12 am to The Sultan of Swine
quote:
I'm sure a lot of it is tied up in long-term investments.
He brags about keeping ALL of his money in one single Capital One account and has posted proof.
Posted on 7/9/17 at 10:14 am to Hangover Haven
He'll be dead broke 5-7 years after retiring.
And I'm being generous
And I'm being generous
Posted on 7/9/17 at 10:15 am to jeff5891
that was only 250 K on the airplane table.
I mean a real baller doesnt flaunt cash like that, but if he did, it would be millions, not thousands.
(stack of 100's is 10K)
I mean a real baller doesnt flaunt cash like that, but if he did, it would be millions, not thousands.
(stack of 100's is 10K)
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