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Floyd Mayweather’s tax strategy would knock out your finances
You don’t have to be Floyd “Money” Mayweather to find yourself in significant tax trouble thanks to self-employment income or a one-time windfall. Boxer Floyd Mayweather’s upcoming bout against UFC mixed martial arts fighter Conor McGregor, who is making his boxing debut, stands to make Mayweather a minimum of $100 million, according to Boxing Scene writer Keith Idec. However, if he meets several of the clauses in his contract, that figure could swell to nearly $400 million. According to the folks at Law 360, however, at least a portion of that will go toward paying for back taxes. Despite making $700 million ... (full story)