The Taxpayer also contests the Section 6662(a) accuracy related penalties assessed in the amount of $1,109,935 and petitions the honorable court for a redetermination and an abatement of such penalties. Taxpayer contests the auditor’s $5,549.675 assessment resulting from the auditor’s disallowance of a business deduction claimed by Taxpayer in 2017 tax year and hereby petitions the honorable United States Tax Court for a redetermination and finding that expenses claimed were deductible as ordinary and necessary business expenses in the 2017 tax year. The petition is short enough that I can give all of it to you. Surprisingly the petition looks pretty bare bones. The petition was dated Apand was stamped received by the Tax Court on May 2, 2022, which is closer than I like to cut things. So we don’t know what his taxable income was before it was boosted by $14 million or what his tax was before it went up by $5.5 million. All the details of the math to get to a deficiency of $5,549,675 are redacted. There might be an interesting story there, but we don’t get it from the document. Getting out of it was about as tough as the evening got for the champ.There was a single adjustment, the denial of a $14,014,220 legal expense deduction from an S corporation.
#Floyd mweather skin#
Mayweather was his usual flamboyant self entering the ring in an alligator skin gown.
The build-up looked the part, even if the fight did not, with hip hop trio Migos performing before the start of the bout and the crowd peppered with stars from the NBA, NFL and Hollywood. Paul was guaranteed $250,000 and a 10% cut of pay-per-view earnings. Mayweather said last week that he expected to earn between $50m and $100m from the fight. Paul, who made his name as a YouTube prankster alongside his brother Jake, is already a multimillionaire at the age of 26 and both he and Mayweather will have made millions more from Sunday’s fight, which sold at $49.99 a pop on pay-per-view and took place in front of an audience of thousands at Miami’s Hard Rock Stadium. Mayweather is estimated to have made $100m alone from his 2017 fight against the UFC star Conor McGregor. While the athletic credentials of the fight were questionable, the ability of both men to make money is not. “It’s one of the greatest moments of my life. Paul, meanwhile, looked like a man who was relieved to still have all his teeth intact while also earning a tidy sum. “We don’t know what the future holds, I have to talk to my team,” he said. Mayweather was asked whether there would be another fight. He’s a tough raw competitor, I was surprised by him tonight.” Then Mayweather remembered who mattered: “I want to thank all the fans who came out, I want to thank the fans who bought pay per view.” “He’s a great, young fighter better than I thought he was. “I had fun, I’m not 21 anymore,” said Mayweather. What they had got was a light sparring session with Mayweather unwilling to risk ruining his flawless record by opening himself up to a lucky punch. The fight ended in boos from the crowd, most of whom had either paid to see a shock or see the often odious Paul get his comeuppance.
There were no judges and no official winner was declared, although it was pretty clear Mayweather would have won easily if there had been. By the end of the fight, Paul had landed 28 of his 217 punches, while Mayweather had connected on 43 of his 107. Paul, to his credit, continued to swing hoping a lucky punch would connect but Mayweather was never in serious trouble. Paul’s biggest mistake may have come in the fourth round when he landed a few blows on Mayweather who attacked for the first time in the fight and continued the onslaught in the fifth. In the second, he let Paul throw a few jabs but Mayweather, with a half-smile, easily dodged them as the larger man tired himself out.
In the first round, Paul used his weight to manhandle Mayweather and unleashed a flurry of punches but none broke through his opponent’s guard. In truth, Mayweather could probably have ended the fight if he wanted to, but he knows his audience and, perhaps with an eye on a lucrative rematch, let them have their money’s worth as the fight went the distance. It didn’t matter as a man whose breathtaking reflexes and defensive skills meant even the best boxers in the world could barely lay a glove on him during his pomp handled the slow and clumsy Paul with ease. Mayweather gave up nearly 20 years, four inches in reach and 34lbs to Paul who, at 189lbs, was by far the heaviest fighter he had ever faced.
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