Why do boxers blow so much money?

[awdleyfuturehalloffamer]

But since they are self employed, don't they get to write off certain expenses that helps to lower taxes paid. So any taxes they pay up front gets reimbursed when tax season rolls around.

[Trainer Monkey]

But since they are self employed, don't they get to write off certain expenses that helps to lower taxes paid. So any taxes they pay up front gets reimbursed when tax season rolls around.

Nope,once they sign a management contract,somebody is technically the boss,even when their technically a free runner,the taxes are taken out of their purse for the initial income,just like any other employee,the promoter is employing them.
If they were fighting under cards they were the promoter for,then theyd be self employed.

[rjj tszyu]

But since they are self employed, don't they get to write off certain expenses that helps to lower taxes paid. So any taxes they pay up front gets reimbursed when tax season rolls around.

Nope,once they sign a management contract,somebody is technically the boss,even when their technically a free runner,the taxes are taken out of their purse for the initial income,just like any other employee,the promoter is employing them.
If they were fighting under cards they were the promoter for,then theyd be self employed.

OK then so Haye and ODLH are self employed despite getting paid off the likes of HBO?

[DaxxKahn]

But since they are self employed, don't they get to write off certain expenses that helps to lower taxes paid. So any taxes they pay up front gets reimbursed when tax season rolls around.

Nope,once they sign a management contract,somebody is technically the boss,even when their technically a free runner,the taxes are taken out of their purse for the initial income,just like any other employee,the promoter is employing them.
If they were fighting under cards they were the promoter for,then theyd be self employed.

OK then so Haye and ODLH are self employed despite getting paid off the likes of HBO?

Hmmm Lets see

You own a construction company....

You do a job for let's say Wal-Mart

the job is done,
Wal-Mart pays you a check

Are you a Wal-Mart Employee?

[rjj tszyu]

Nope,once they sign a management contract,somebody is technically the boss,even when their technically a free runner,the taxes are taken out of their purse for the initial income,just like any other employee,the promoter is employing them.
If they were fighting under cards they were the promoter for,then theyd be self employed.

OK then so Haye and ODLH are self employed despite getting paid off the likes of HBO?

Hmmm Lets see

You own a construction company....

You do a job for let's say Wal-Mart

the job is done,
Wal-Mart pays you a check

Are you a Wal-Mart Employee?

Forgive me if I'm mistaken here but don't they sign multi-fight contracts with the likes of HBO? So wouldn't that make them sort of employed by them?

And by the SMART ARSE. I wasn't being a wise ass I was genuinely on about the likes of Tyson who went into London and bought I think it was a £5 million watch before the Julius Francis fight and blew his money in these kinds of ways........

[DaxxKahn]

OK then so Haye and ODLH are self employed despite getting paid off the likes of HBO?

Hmmm Lets see

You own a construction company....

You do a job for let's say Wal-Mart

the job is done,
Wal-Mart pays you a check

Are you a Wal-Mart Employee?

Forgive me if I'm mistaken here but don't they sign multi-fight contracts with the likes of HBO? So wouldn't that make them sort of employed by them?

And by the SMART ARSE. I wasn't being a wise ass I was genuinely on about the likes of Tyson who went into London and bought I think it was a £5 million watch before the Julius Francis fight and blew his money in these kinds of ways........

My mistake then mate...Sounded a bit sarcastic with the working for HBO thing and nothing to follow it up with....I owe an apology...

Rep on me....

As for the spending thing...yes they do spend a lot of money in those ways but in truth it is hard to actually spend $200,000,000 million...even if you shop like that and buy homes...it is usually bad investments, accountants, people you let handle your money who are not qualified more then anything

As for the HBO thing...

They sign to fight exclusively on their network they are not actually working for them...it is a promotion deal type thing.......

You have X amount of fights on our network and we will pay you X amount of dollars type thing.....

Outside of that HBO really has no involvement with them