Mayweather vs. Mcgregor

I am not entirely sure what the structures is.
The Circus Tax is still in effect. I come across it in regular work.

When you throw Uncle Sam, all the other uncles and manager, it take discipline not to blow all the remaining cash.

People forget that it is not about the power of acquisition but the monies required after.

After the cash flow from fight event or career is over, the well is dry for majority of sportsmen.

 

Not much of a flu today
Gentleman Jack for breakfast, Macallan 18 for dinner. I might wean myself off beers & stick with fine scotch's.

 

I just wanted to say that scotch, ANY kind, no matter how fine, taste like what I believe azz (see what I did there ) to taste like. Of course with peat moss on it

That is all.

 

I have toured several distilleries and as much as I enjoy the tours and the ambience, the spirits taste like burnt trash and cigar butts.

Cheers to you all and your scotch. I will stick with Guinness.

 

That's something a lot of people don't realize about athletes and entertainers. They pay taxes in a HUGE way. Most wealthy people work out a way to funnel most of their money into investments so they only get taxed on long term capital gains but athletes and entertainers are getting taxed like lottery winners, year after year.

 

I am sure Mayweatber has an accountant that fully understands the laws of tax. If you can push off paying 20 million in taxes for 5-6 months you can earn a huge chunk of money on interest and or investments. Anyone who pays there taxes on time and doesn't use the system to there own advantage needs to hire a new accountant or hire one. Floyd has done this for th last 15 year's, its nothing new to him or many athletes who have large tax bills.

 

I'm not sure who told you that, but it's never a good idea to pay your taxes late. There's not an investment on the planet that would outrun the penalties and interest the IRS charges.

The reason people don't pay their taxes on time is because they don't have the money.

 

I don't always take financial advice from anonymous people on the internet, but when I do, I seek out people with poor grammer skillz.

 

Fourth round, MacGregor, down on points, hits Mayweather with a round house kick, and slaps on an arm bar. He then proceeds to celebrate like he won a gold medal.

 

Investments? That sounds completely out of character.

 

i was thinking it, but i'm not a tax lawyer, so maybe there was something i dunno. if you owe money, there's reason to be liquid up until the last minute sure for "investment's sake" (but if you're not making millions of dollars who cares. there's nothing i can see worth doing if you owe $5k, who cares, and you're not making shit off having $5k in your pocket). if you're OWED money though, why would you not file as soon as possible rather than giving the government a free loan on your money?

i dunno in any situation where its beneficial to pay penalties on millions of dollars. i guess if you had some super special fantastic investment that was gonna pay you 1000% return on $10m on June 10th or August 15th that tied up every single dollar you had, maybe its worth the penalty? i guarantee you Mayweather ain't that guy.

this idiot coulda socked away $10m off every fight over the last decade and had more than any of us could have ever dreamed of sitting in a retirement account, and STILL blown a shitload of money on being a retard, and he STILL couldn't even accomplish that. he'll be broke before he dies for sure. or he'll at least be having some massive sell-off/bankruptcy court liquidation/restructuring. he's way too young for this shit and getting too old to keep on the way he's been keeping on.

 

Just going by what I was told this weekend by a guy worth a few billion dollars, but I'm sure he doesn't know anything at all either.

 

Cool story bro.

 

Late is the wrong term, but you would absolutely delay as much of it as possible for as long as possible - without penalty. A fighter is a contract employee in almost every instance, so they would be required to pay quarterly estimated taxes. As long as the estimate "bill" is satisfied, everything else can be reconciled next April. Add in legitimate requests for extensions, etc and a lot of this money is finding a long-term and protected home before April.

 

Was it this guy

 

What about the ones that run up huge tax bills and then settle for pennies on the dollar? I would assume they have to prove that they don't have the assets to pay the bill, right?

 

That guy fucks

 

If you have to beg a judge for an extension, you have "delayed" far too long and you are already in trouble.

 

yea i dunno how that all works, i only have a dabbling. i'd ASSUME that would be true, but then i thought his main justification for this extension beg was that he was not liquid, rather than being actually broke. of which i also assume then he probably has like 20 houses to go with his 50 exotic cars and bullshit. i dunno how they play that though. i know he has a ridiculous house on Lake Tahoe. i dunno what others though. would a judge make him sell a property to pay up? would they be lenient if he could show he had revenue coming soon (aka this fight)? not sure.

 

People like Al Sharpton seem to get away with it somehow. I'm sure a good tax lawyer has plenty of tricks up their sleeve.