Lamar Odom sues IRS over deductions

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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.

Are Bulls and Dwyane Wade moving toward a buyout?

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About a month ago, the Bulls said they hadn’t discussed a buyout with Dwyane Wade.

Have the two sides progressed since?

Nick Friedell of ESPN:

Dwyane Wade isn’t long for the organization’s future and is expected to reach a buyout agreement at some point in the next few months.

Expected by whom?

People with direct knowledge of momentum toward a buyout?

Or everyone who can see that a 35-year-old earning $23.8 million fits poorly on a rebuilding team?

For the Bulls to now drop their biggest name and a large expiring contract that could prove useful in trades should require Wade surrendering a large portion of his salary. He doesn’t sound like someone inclined to do that yet.

A few months is a long time. As long as Wade gets bought out by March 1, he could join another team’s playoff roster. It’d surprise nobody if he gets bought out after the February trade deadline, which we already knew. I don’t see strong indication of something more imminent.

LeBron James’ camp already shooting down leaving-Cavaliers rumor

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LeBron James has done a terrible job shooting down rumors about him leaving the Cavaliers

Except this one from Chris Sheridan, who cited a source saying LeBron would “100 percent” leave Cleveland next summer due to a rift with Cavs owner Dan Gilbert.

Joe Vardon of Cleveland.com:

Sheridan’s source saying LeBron is leaving doesn’t make that true. But other anonymous sources denying it doesn’t make the denials true, either.

New Orleans Saints fire Pelicans’ team physician

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The Pelicans have been crushed by injuries the last few years.

Why? That’s an incredibly complex question.

But the New Orleans Saints – who share an owner (Tom Benson), a front-office leader (Mickey Loomis) and other staff with the Pelicans – have found culprits for their own injury woes.

Mike Triplett of ESPN:

The Saints have fired team orthopedists Deryk Jones and Misty Suri, per source, after it was discovered that CB Delvin Breaux has a fractured fibula and will require surgery expected to sidelined him for 4-6 weeks. Breaux was originally diagnosed with a contusion

Suri is a Pelicans team physician.

Scott Kushner of The Advocate:

Fairly or not, Suri – after the Saints deemed him unacceptable – will be in the crosshairs if he keeps his job with the the Pelicans and their injury woes continue.

Rumor: LeBron James ‘100 percent’ leaving Cavaliers next summer

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Chris Sheridan was ahead of the crowd in 2014, reporting LeBron James would likely leave the Heat for the Cavaliers – which obviously happened.

But Sheridan called it a “90 percent chance,” a small – but large enough – hedge. He also said LeBron would announce the decision on LeBron’s personal website. Of course, LeBron revealed his choice in a Sports Illustrated essay.

So, maybe Sheridan knows what he’s talking about. Maybe he doesn’t.

But the longtime NBA writer just fanned the flames of the already hot LeBron-leaving-Cleveland rumors.

Sheridan:

Of course, the denials came quickly.

There have already been plenty of warning signs about LeBron’s relationship with Cavs owner Dan Gilbert, which didn’t restart in a great place.

It’s entirely believable LeBron would leave Cleveland, in large part due to Gilbert.

But it’s also fun to speculate about that salacious storyline.

Maybe Sheridan or his source got carried away for that very reason. Or maybe they know something.

Neither possibility should be discounted.