Suppose you receive € 500,000 gross income for one fight in the year as a fighter and your manager takes 20% = 100,000, would you pay this amount from your gross income or after paying taxes? How is this issue in the USA?
You'd be paying this on gross income. I'd also suggest you 1099 your manager or get his company EIN number so you can write off this contribution as operating expenses to your career during tax time.
It all depends on what you prefer. Manager is like a sports agent. Promoter is like a team owner. Both have their upsides and risks. If you have low starting capital, id recommend manager. If you have a flair for marketing, then promoter.
How to become a boxing manager or agent ?
Even I wanna know
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I don't plan on becoming a promoter or a manager but this is just really interesting
Suppose you receive € 500,000 gross income for one fight in the year as a fighter and your manager takes 20% = 100,000, would you pay this amount from your gross income or after paying taxes? How is this issue in the USA?
You'd be paying this on gross income. I'd also suggest you 1099 your manager or get his company EIN number so you can write off this contribution as operating expenses to your career during tax time.
👍 very good video with very good knowledge
thanks for sharing the important stuff
So what’s the better gig ? Being a promoter or manager ? Interesting stuff brotha definitely looking forward to buy the course
It all depends on what you prefer. Manager is like a sports agent. Promoter is like a team owner. Both have their upsides and risks. If you have low starting capital, id recommend manager. If you have a flair for marketing, then promoter.
The question is how to become a manager
I can’t find this answer anywhere
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