Samuels Yoelin Kantor attorney Bob Banks was featured again in the Oregonian this Sunday. The article, by Jeff Manning, focuses on the the ongoing Aequitas debacle. Also highlighted in the piece is latest case that Banks filed in Seattle last week for a group of investors who lost $11 million.
Every time the Olympics come around, there’s dozens of articles and posts about how Olympic medals are subject to income tax. The IRS considers all prize winnings, such as gambling or game show prizes, to be income and thus taxable. Olympic medals get lumped into this group (as do the cash bonuses they come with). Luckily for the athletes, their medals are valued at the time they are earned, essentially the value of the materials. A gold medal from Rio is estimated to be worth $564, a silver medal is estimated at $305, and a bronze medal has little intrinsic value. Since Olympic medalists generally treat their sport as a profession the value of the medal and related bonuses are likely to be offset with a deduction for the significant expenses that most athletes incur.
The Oregon Home Care Commission recently launched its innovative Homecare Choice Program. The service is another option for home health care, providing connections for personal care, household tasks, companionship, pet care, transportation and medication assistance.
Recently, a Florida judge dismissed a money laundering charge against a man who sold $2,000 worth of bitcoin to an undercover agent who claimed he was using the bitcoin to purchase stolen credit card numbers. The judge held that bitcoin is not money and therefore it does not fall within Florida’s money laundering statute. While leaving the door wide open for the Florida legislature to regulate bitcoin and other virtual currency, the judge says that trying to regulate bitcoin using a statutory scheme regulating money is “like fitting a square peg in a round hole.”
Credit for these words of wisdom goes to Oliva Nuzzi, journalist at the Daily Beat.
To end this series of sabbatical articles, I return to the beginning: That is, the beginning of the rule of law enjoyed by both England and America.
The year was 1215. King John was the reigning monarch of England, and it was not going well for him. Born on Christmas Eve, 1167, he has been called a lecherous traitor, a depraved tyrant and a hopeless leader in war. It is no wonder that his subjects rose up against him.
Like his predecessors, King John ruled using the principle of “force and will,” making executive and sometimes arbitrary decisions on the basis that the King was above the law.