Apparently Lamar Odom enjoys being audited. Because I have to think when you sue the Internal Revenue Service over deductions you raise red flags on your returns from now until eternity.
But sue he did, according to Forbes. Without an attorney — these are personally signed pleadings.
Odom is fighting over two specific deductions — one he tried to take for $12,000 in fines paid to the league (money that does go to the NBA charities).
“The taxpayer claimed $12,000 of employee business expenses for fines that were assessed by the National Basketball Association,” he declared, writing in the third person. “These fines are commonly assessed on professional athletes and are work related. Therefore the fines incurred are ordinary and necessary employee business expense.” The petition, which listed his address as an agent’s office in Los Angeles, offered no details about the nature of transgressions leading to the fines.
Federal law generally prohibits tax deductions for financial sanctions resulting from criminal cases and matters like traffic violations. But Odom wrote, “The fines imposed by the team and the NBA are not imposed for the violation of any government law and are therefore not specifically excluded.”
If guys can write off fines, Rasheed Wallace should be a lot richer. The other deduction Odom wanted? Money to get in shape.
“The taxpayer claimed $178,337 of employee business expenses for professional training and conditioning,” he wrote. “The taxpayer’s employment contract requires that the taxpayer be in sufficient physical condition that allows him to perform as a professional basketball player throughout the basketball season.”
I’m not a tax attorney. Neither is Odom. Which is why my guess is the army of tax attorneys at the IRS wins this one. But you have to appreciate the effort.
On Monday, Dion Waiters agreed to a one-year, $2.9 million deal with the Heat, far less than most people thought he would get as one of the few significant free agents still on the market. Tuesday afternoon, he posted an explanation on Instagram for his deal.
Here’s what he said:
I didn’t do it for the money… I did it for the opportunity to go out & ball & have fun. Everything else will take care of its self!!! I just felt like it was the best situation for me…& my family. I could have waited & got wat I wanted. But I rather be happy then miserable at the end of the day!!! Meaning Yu can have everything & still not be happy… #heatnation let’s get it!!! #provethemwrong #stamped #Philly
It seems clear, based on the market, that the kinds of offers Waiters was hoping for weren’t out there for him. In Miami, with Dwyane Wade gone, he’ll probably start at shooting guard and have plenty of opportunities to prove himself in hopes of landing a long-term deal next summer.
While we wait for the Celtics to make a bigger move to trade for another star, they’re filling out the end of their roster. Sheridan Hoops’ Michael Scotto is reporting that they’ve signed Demetrius Jackson, the No. 45 pick in last month’s draft, to a four-year deal.
Jackson declared for the draft after his junior season at Notre Dame. Talent-wise, he has the chance to be a major steal for Boston — DraftExpress has him ranked as the 17th-best overall prospect in this year’s draft class. But he might not play much his first year. The Celtics’ roster is already crowded and there’s still the chance that they’ll make another move with some of their much-vaunted assets if the right star becomes available.
ATLANTA (AP) — The Atlanta Hawks have signed undrafted rookie free agent center Matt Costello of Michigan State.
The 6-foot-9, 245-pound Costello averaged 5.7 points and 5 rebounds on the Hawks’ summer league team in Las Vegas.
Costello averaged 10.7 points and 8.2 rebounds as a senior at Michigan State. He holds the school’s career record with 146 blocked shots.
Terms of the deal were not released.
Jamal Crawford knows how to get buckets.
He does it against NBA level defenders, so put him in a free-flowing pro-am — let’s say the Seattle pro-am in his hometown — and he barely breaks a sweat dropping 44. And nailing the game winner.
Doc Rivers hopes to see a lot of that next season.