RJJ owes $3.5 million to IRS, no wonder he's still fighting.

[generalbulldog]

Roy Jones Jr. Now Battered By The IRS, Owes $3.5 Million - Boxing News

SMH.

[JazMerkin]

Maybe we should have a thread - 'Who's the worst with their money? RJJ, PBF or Pac?'

[Spicoli]

Bet he's seriously hoping for that Government shutdown on Sat!

If he's going to fight I'd almost rather see him do a "Toronto five" like Foreman and avoid any serious threats. This guy is going to get damaged badly.

[fan johnny]

Maybe we should have a thread - 'Who's the worst with their money? RJJ, PBF or Pac?'

Maybe you could put the "Hitman" in with the first two, but there's never been anything about Pac having 'debt' or 'IRS' collection problems. Actually there has been articles where he been the Philippines top tax payer.

I kinda like a "Where are they now?" thread.

I recently read how "Boob Boob" and how he's remain financially stable.

[JazMerkin]

Maybe we should have a thread - 'Who's the worst with their money? RJJ, PBF or Pac?'

Maybe you could put the "Hitman" in with the first two, but there's never been anything about Pac having 'debt' or 'IRS' collection problems. Actually there has been articles where he been the Philippines top tax payer.

I kinda like a "Where are they now?" thread.

I recently read how "Boob Boob" and how he's remain financially stable.

Yeah, I was just riffing on the legacy thread. Although with that entourage, his generosity & his wife's spending habits (those Filipino nurses again), I can imagine he'll run into problems once his career is done.

[generalbulldog]

For some reason I really don't think FLoyd and Manny will have problems with money in life, or at least I'm hoping it won't be. Floyd had tax problems in the past, I don't think he's dumb enough to repeat them or let's hope so. Manny lives in the Phillipines where the cost of living is considerably lower than 1st world developed nations, not to mention he's got endorsements there (San Miguel beer, Nike) and is a congressman.

I might be wrong, but I hope all goes well for both since they have entertained millions of people through their ring exploits.

[JazMerkin]

For some reason I really don't think FLoyd and Manny will have problems with money in life, or at least I'm hoping it won't be. Floyd had tax problems in the past, I don't think he's dumb enough to repeat them or let's hope so. Manny lives in the Phillipines where the cost of living is considerably lower than 1st world developed nations, not to mention he's got endorsements there (San Miguel beer, Nike) and is a congressman.

I might be wrong, but I hope all goes well for both since they have entertained millions of people through their ring exploits.

I hope so too, but I suspect Floyd will run himself into serious difficulties because he seems to just forget to pay his taxes every year. He does seem to have toned down his lifestyle a bit, selling a lot of his cars etc, but like Manny, I see that entourage coming back to haunt him. I really hope they can both be alright, they've made so much money that it shouldn't be an issue, but sadly it still could be.

[Dropanuke]

Don't forget the others in that list!!!
Mike tyson and evander Holyfield

[THE THIRD MAN]

Roy Jones Jr. Now Battered By The IRS, Owes $3.5 Million - Boxing News

SMH.

Do these guys hire financial advisers? Does the USA have a PAYG system in place? How does Jones jr not know this? In any contract negotiation surely he would have it checked out by a financial adviser and know in advance what his take home pay will be after TAX? I can only assume they have tried to cheat the system and have been caught out doing it, i have no sympathy if that is the case. Organising finances is easy if you prepare yourself, Jones jr has either been ill advised or is just plain ignorant in these matters.

[fan johnny]

Roy Jones Jr. Now Battered By The IRS, Owes $3.5 Million - Boxing News

SMH.

Do these guys hire financial advisers? Does the USA have a PAYG system in place? How does Jones jr not know this? In any contract negotiation surely he would have it checked out by a financial adviser and know in advance what his take home pay will be after TAX? I can only assume they have tried to cheat the system and have been caught out doing it, i have no sympathy if that is the case. Organising finances is easy if you prepare yourself, Jones jr has either been ill advised or is just plain ignorant in these matters.

I seriously doubt that Floyd has one. I would venture to say the Roy Jr is of the same mind set as Floyd. On the other side of this, I read that "Boom Boom" did and when he retired from boxing at the age of 24, He had nearly all his life time purse of $12 Million in earnings. I don't think they cheat, People like that just ignore it and hope it goes away. Sounds stupid because it is, but really many people are like that.

[J_Undisputed]

For professional fighters like roy and floyd, starting your own record label or rapping/singing career should be like buying a gun in the U.S. there should be a damn waiting period or something during which they have to watch like videos about the dangers of mismanaging your money or something. I can see boxing promotional companies, the occasion restaurant, or local establishments that are in line with what they enthusiastic about... or even boxing equipment companies or fight academies. But looking at some of the dumb things that some of these guys wanted to do with their money.... and then "forget" to pay taxes....it makes you go what?!?!?! Stick to what you know.

Zab judah wanted to make rims... WTF?!?!?

[No Contest]

Shit, thats alot of back taxes....he should have done like the politicians do, put all his money in swiss bank accounts or costa rica or some shit. Then just declare bankruptcy.

[fan johnny]

Shit, thats alot of back taxes....he should have done like the politicians do, put all his money in swiss bank accounts or costa rica or some shit. Then just declare bankruptcy.

It don't work like that... They used to have a offshore companies that earned the money for them that way money is not declared as income for the individuals. But now a days the IRS goes after all that stuff like that. What they do now is set up a record label or other start up company and write off all the losses. But it looks like Floyd & Jones forgot to hire an accountant.