Terrible financial advice from Mayweather's on dad...more self inflicted pain...

Ok... I'll change it DobyZhee... LOL!!! I really don't know how these people or call it lack of thinking. When I read what Mayweather Sr. was trying to say it just didn't make any sense. Just like Mayweather Jr talking all this **** about Pacquiao and when a fight was about to happen he says he's on vacation, it doesn't make sense either. Wait I take it back, it does make sense if he didn't want to fight Pacquiao after all... :yep

 

E.Cash, the investments or loopholes you are talking about will still be put into effect after the fact, meaning after he's been paid his $50 million. He has to claim that as Gross Income. A tax account's job is to lessen that amount as much as possible before they figure out the tax liability. I keep telling you the same exact thing that can be done next year, could have been done this year. The only thing different is that Mayweather's tax rate will be more and there will be a CAP on itemized deductions that aren't in play this year. He might and I stress might make up the extra $2 million that he's going to pay, but it'll be realized YEARS down the road.

Secondly, there is no statistics or data that points to May being a better month than November. It's still just a theory. And like I said compared to the FACT that Mayweather's tax is going up 4.5%, justifying having the fight next year is just a hope.
Mayweather should get better financial advise.

Lastly, please reead this Wall Street Journal article:

"Now, if people know tax rates will be higher next year than they are this year, what will those people do this year? They will shift production and income out of next year into this year to the extent possible. As a result, income this year has already been inflated above where it otherwise should be and next year, 2011, income will be lower than it otherwise should be." :deal

http://online.wsj.com/article/NA_WSJ_PUB:SB10001424052748704113504575264513748386610.html

 

:huh

If I were you, you should buy a blindfold and earmuffs. Its just going to get worse for Mayweather once Pacquiao fights November 13th. People are just going to be reminded that Mayweather talked all this **** and given the chance didn't back it up... I ain't gonna stop till everybody agrees with me or the Pretty One actually steps in the ring with Pacquiao. :hey:hey:hey

 

I just thought I'd offer my services, since his dad said the reason the fight didn't take place was financially motivated by taxes. I pointed out if that's the case he just potentially lost $2 million if ever takes the fight next year.