How much income taxes does the UFC Pay?

[Lee_]

Sweet rebuttal. You made a claim that "ditch diggers, waitresses, everyone" pays more than 18%, which is flat out wrong. Warren Buffet said HIS secretary does, not secretaries on average, because his secretary is in the top 1% of income earners herself, while the average secretary makes a fraction of that and probably pays around 12-13% of that in taxes and takes out significantly more in benefits.

Dude, you are totally and unquestionably wrong here, and repeating only continues to make you look silly. Bringing up people that make 20K or less is just beyond goofy. Give it a rest.

 

[nostradumbass]

Comparing how a basketball game is scored to how an entire society is run, financed and taxed, only demonstrates how amerifat your brain is.

Imagine living in America - a place that is imploding before our eyes. You have crumbling infrastructure that is 100+ years old. You have hundreds of thousands of homeless people living on your streets. You have 0 miles of high speed rail. You have 70,000 people dying every year because they're too poor to afford healthcare. You have a government that is completely paid off by multi national corporations. You live in all of that, and your stance/disposition is "corporations good. defend corporations". Can you imagine being any more cucked?

I'm not "comparing how a basketball game is scored to how an entire society is run", I'm comparing your envy and entitlement to someone else who contributes nothing while complaining about those who do.

Get some self esteem and stop looking for strange men to be your sugar daddy. All the problems you listed are concentrated in the state that already does have the highest taxes and most billionaires, and people who are "too poor to afford healthcare" already get it for free, paid for by the people you're complaining only pay 10,000x what you do instead of 10,000,000x what you do.

 

[nostradumbass]

Dude, you are totally and unquestionably wrong here, and repeating only continues to make you look silly. Bringing up people that make 20K or less is just beyond goofy. Give it a rest.

Before reading this, please tell me how much you think someone making $50k is paying in taxes.

It sounds an awful lot like you're still a student, or don't work, and don't know how marginal taxes work, let alone effective taxes. I already showed you what the actual average tax burden is, but for some reason you're just not getting it because you don't want to admit you got tricked into believing something that isn't true. I gave you cbs citing the tax foundation for who actually pays what, and you just brought your feelings and Warren Buffet saying his rich secretary pays a lot in taxes.


https://www.nerdwallet.com/article/taxes/federal-income-tax-brackets#:~:text=There are seven tax rates,bracket than they were previously.

https://www.cbsnews.com/news/who-pays-the-most-taxes-experts-explain-2023-deadline/

 

[MMA_AZ]

Yeah what a genius

 

[Yep]

I crunched the numbers through turbo tax and they pay $12

 

[El Fernas]

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

How does the taxing part works with tip workers like a waitress? serious question considering tipping mostly comes in cash, down here tipping is completely optional even if a regular tip of around 10% is the local custom there is no obligation on paying it, if a restaurant employee demands tipping from a costumer they get in trouble with "customers protection office", so being that way, how can the IRS calculate how much a tipping worker has to pay? Down here those guys pay no tax at all other than what comes with their reported base pay, if any, there are stories that some work 100% for tips in some places.

 

[markg171]

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

Warren pays less income taxes percentage wise because he doesn't have an income.

It's literally in the name. Figure it out corn nuts.

 

[avenue94]

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

Why do you think they don't make sense, out of curiosity?

 

[JKS]

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.

So it's pretty much like any other business. They pay taxes on the net income after expenses are deducted from their net revenue?

 

[DiddlyDoodly]

Lol yeah, cocktail waitresses who make almost all of their money in unreported tips are known to pay millions in income tax.

Exactly.

If servers got paid a standard hourly rate instead of being allowed to collect tips, they wouldn't be servers.

 

[DiddlyDoodly]

No, he didn't. Warren Buffet said his secretary, not a waitress, because secretaries get paychecks, and his secretary makes like $200k-500k. And they are supposed to claim tips if they make more than $20/month, which 100% of them do. They report tips that are left on credit cards, and don't report cash tips, and none of them are paying even 1% the dollar amount of that pesky "top 1%". His secretary getting paychecks up to $500k might very well be paying a higher percentage than Warren Buffet whose money isn't even income until he sells his stocks.

Just lol at pretending it's waitresses that are keeping the income tax revenue afloat. Oh yeah, the whole system would come tumbling down if it weren't being propped up by all that sweet tax revenue being paid by cocktail waitresses.

I worked in the restaurant industry for 17 years as kitchen manager and corporate trainer. Every Monday morning, we would go through the server's tip reports and enter them into payroll.

It was absolutely comical what some of the girl's reported. They knew exactly what to report so that their paycheck would = zero based on the $2.81 that they were getting paid.

There were girls pulling $800+ a week working 20 hours and they would claim 1/3 of that. They knew how to beat the system.

Beating the system is the whole point of being a server.

 

[DiddlyDoodly]

About as much as this idiot
View attachment 992909

 

[markg171]

Yeah what a genius
View attachment 992949

This guy isn't even aware that the charges themselves say he doesn't have that document in question. Trump was holding up an article written about the document.

Let alone how insane it is that you would be angrier at Trump potentially having this and not that the document was about how the American generals tried to attack Iran and he stopped them. Then those same generals leaked those attack plans to the press, causing the whole security breaches and national danger in the first place and not Trump.

But sure, had Trump had evidence there was an ongoing coup against him the issue is that he had evidence showcasing it. Not what they themselves were doing.

 

[BobVulture]

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

Dated a server for a long time, she reported maybe 50% of what she made if I'm being generous, as is the case with all servers.

And the effective federal income tax rate of someone making $40k a year is about 7-8%. Not sure where you're getting your numbers but just look up the tax brackets.

 

[kumitechamp]

I love it when people think they are laughing at someone when they are being laughed at.

You should look into percentages paid by the personal income tax of top executives. Warren Buffet actually made the statement that waitresses pay more than he does because of the way his investments are setup to not pay taxes (they all set it up this way); he meant they actually pay a higher percentage.

You also missing the boat in a big way regarding tips- waitresses have a mandated percentage to pay as tips whether they make that much or not, so they don't make millions in "unreported income."

That mandated amount is almost always a lot less than they actually make in tips. Source I know many waitresses and casino dealers and bartenders they all say this.

 

[nostradumbass]

Exactly.

If servers got paid a standard hourly rate instead of being allowed to collect tips, they wouldn't be servers.

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.

 

[DoctorTaco]

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.

I know a recently retired ufc fighter who’d write off his haircuts as “advertising.” Brilliant!

 

[rjmbrd]

The UFC's parent company, Endeavor, is publicly traded and their financial statements are public records. So that means you can look it up.

https://s29.q4cdn.com/745718849/files/doc_financials/2022/ar/2022-Endeavor-Annual-Report.pdf

 

[philweed]

Why do you care that I care?

I see where you’re going with this. 2005 join date and you’re gonna whine about UFC’s finances. It’s not surprising you’re from California.

 

[west42]

Are there people who legit think servers and bartenders declare cash tips? Lmao