How much income taxes does the UFC Pay?

[StonedLemur]

I am curious if any Sherbro financial advisors/CPAs know inside information on the UFC's tax bracket and if they pay taxes at all.

Well since they say that the fighters are all independent contractors (which we all know is bullshit) they probably only pay for the people that work the shows and in the offices sir.

 

[blackheart]

Seems like pretty basic stuff, but the guy bolted from the thread without answering how much of their income he thinks waitresses pay in taxes, but @blackheart thinks teachers with "poverty wages" are paying 1/3 of theirs in income tax, so obviously some of these posters are still kids who've never paid taxes and don't even know what the tax rates are.

I'm a 32 year old man with a salaried career and I've supported myself for the last 13 years.

You were so fucking butthurt after I pointed out what a bootlicking cuck you are that you felt the need to go back in AGAIN after I ignored your last reply. Lmaooo.

What's your counter to what I said buddy? Corporations spend hundreds of millions buying off your government, they pollute your environment with toxic chemicals in your air and water, America has some of the lowest living standards in the entire developed world, and you're like "yes corporation daddy. Throat me more. Corporation good. Corporation must be defended. Throat me more corporation daddy"

There is literally nothing more cucked than worshiping and defending the people that are destroying your country.

 

[Sgt Smith]

As little as they possibly can, like we all try to. We often blame corporations rather than tax laws.

 

[nostradumbass]

I'm a 32 year old man with a salaried career and I've supported myself for the last 13 years.

You were so fucking butthurt after I pointed out what a bootlicking cuck you are that you felt the need to go back in AGAIN after I ignored your last reply. Lmaooo.

What's your counter to what I said buddy? Corporations spend hundreds of millions buying off your government, they pollute your environment with toxic chemicals in your air and water, America has some of the lowest living standards in the entire developed world, and you're like "yes corporation daddy. Throat me more. Corporation good. Corporation must be defended. Throat me more corporation daddy"

There is literally nothing more cucked than worshiping and defending the people that are destroying your country.

If they've bought off the government, what kind if stupid asshole would want more of your money going to the people they've bought off?

Goddamn, I hope your imaginary "salaried career" isn't an important one if you have no idea what the tax rates are and think the solution to a corrupt government is to give them more control and more of your money and have an anime avatar on a karate forum.

If you're a 32 year old man who just started a karate forum account 3 months ago with a cartoon avatar and your posts are "throat me daddy" and you thought teachers pay 1/3 income tax, we really are fucked. Luckily, it's pretty obvious you're still in high school.

 

[TGArthur]

Well since they say that the fighters are all independent contractors (which we all know is bullshit) they probably only pay for the people that work the shows abd in the offices sir.

 

[StonedLemur]

I KOd a couple of college kids in my day sir, thanks for asking lol

 

[Thepaintbucket]

I am a New York State CPA but I am hesitant to answer.
I'm jaded after explaining in great detail why locker room bonuses made no sense for the UFC and people didn't read just jumped all over me.
it almost felt like i tried to touch gloves and got ambushed

Can you attempt to explain it again? I am interested. The locker room bonus always seemed odd to me

 

[Blunderbuss]

This is as war room of a thread in the heavies as I have ever seen

 

[MMAcolyte]

Waitresses are not taxed on tips only if they make under $20 a month, which is virtually no one unless you only work like 4 hours per month. You are responsible for paying taxes on your tip money just like anyone else's income when you make over that amount per month. Look it up again. Stop embarrassing yourself

"...just like anyone else's income". Except the difference is that there is zero record or evidence of the waiter/bartender's tip income (for cash tips at least). Whereas "anyone else's income" is being tracked, recorded, and reported by whoever is paying them (obviously I'm referring to the majority of people who are wage/salary workers for an employer).

I worked as a bartender for a year (part time) and didn't report any income from that job at all. After tax season the government sent me a bill for the amount I owed. It was the exact amount for the income that my employer had reported in paying me my minimum wage. I never reported nor had to pay a single cent in tip income.

 

[jko1355]

They do. That’s why they have the 17k cash gift max. It’s for that purpose.

So can I have a friend I just met build me a deck in my yard, and I can just give him 15,000 because he's my friend who liked me so much he built me a deck?

 

[LiQuiD42]

So can I have a friend I just met build me a deck in my yard, and I can just give him 15,000 because he's my friend who liked me so much he built me a deck?

You can give that friend $15,000 without even having them build a deck. You can gift $15,000 to multiple people if you wanted to. Anything more than $15,000 and the IRS will start asking questions.

 

[IDGETKTFO]

I can say with absolute certainty, not enough.

 

[Pechan]

 

[FreedomCricket]

You should just stop embarrassing yourself now.

Warren Buffet pays 17.4%, which is less than waitresses, ditchdiggers, and everyone else (including myself).

Warren Buffett and His Secretary on Their Tax Rates - ABC News (go.com)

The problem with making a claim from something you Google is you end up really not understanding what it means. Waitresses are not taxed on tips only if they make under $20 a month, which is virtually no one unless you only work like 4 hours per month. You are responsible for paying taxes on your tip money just like anyone else's income when you make over that amount per month. Look it up again. Stop embarrassing yourself

Dude, you're making a fool of yourself.

You're also not being intellectually honest about the situation at hand.

Servers/bartenders/etc, will typically get paid very little base salary. In fact, most of the country they probably make less than $25k a year in hourly rate, which means after even a single tax payer deduction they will have tax liability of around $1500 or 10% up to $14k in net income.

You simply can't compare Warren buffet or any of the mega rich people unless they take an actual salary. Much of their wealth is distributed over different revenue streams and is calculated differently.

The regular Joe Blow that makes $150k a year pays around 35-40% to federal/state income taxes. But if Warren buffet or any other ultra wealthy person, earns say 74 million in one year, and pays 1% in taxes. If he pays taxes on that income at 1% for two years, that is more than Joe Blow will pay in his lifetime.

 

[skylolow]

When you take in a billion dollars of revenue in you pay a lot in for taxes.

Now by comparing it by percentages that might not look right in some people's eyes. But as Mark Cuban always said would you rather own 100% of grape or 10% of a piece of watermelon.

 

[jko1355]

You can give that friend $15,000 without even having them build a deck. You can gift $15,000 to multiple people if you wanted to. Anything more than $15,000 and the IRS will start asking questions.

I was just pretending he was my friend man.... if someone built me a deck for $15,000 I can't pretend I'm gifting it to him that is tax evasion....

 

[SeattleFightFan]

Tax Accountant here. They have to pay a lot. They are considered independent contractors (Self employed) by the UFC. Taxes are not being taken out automatically from their paycheck after each fight. They get the whole sum. That's why it is recommended to make quarterly estimated tax payments or otherwise they will be surprised on how much they owe when they file their income taxes. They can also write off the expenses like amount spent on training camps, travel and etc.

Let's try to answer his question. I found this document. And I think the answer is there, but I'm too uneducated to make much sense of it. Can you? Thanks.

EDIT: That link above is a quarterly report. Here is an annual report. I could be wrong, but it sure looks like they're paying less taxes via deferral each year....

page 40
(in thousands) 2022 2021 2020

(Benefit from) provision for income taxes (648,503) (22,277) 8,507​

 

[avenue94]

When you take in a billion dollars of revenue in you pay a lot in for taxes.

Now by comparing it by percentages that might not look right in some people's eyes. But as Mark Cuban always said would you rather own 100% of grape or 10% of a piece of watermelon.

It's not quite that straight forward, the UFC doesn't really have a significant tax bill on its own because it is/was a subsidiary of WME, which is usually bleeding money.

 

[Vil7]

'Bout tree fitty.

 

[SeattleFightFan]

It's not quite that straight forward, the UFC doesn't really have a significant tax bill on its own because it is/was a subsidiary of WME, which is usually bleeding money.

Right.

Here is an annual report. You follow this stuff (ebitda and shit), maybe you can make sense of these numbers (or more likely, have better ones at your fingertips).