Seminars to Focus on Fraud and Tax Issues

A series of owners’ seminars focusing on fraud and tax issues in the Thoroughbred industry is scheduled for Sept. 12 in Lexington, and will be hosted by a group of attorneys that include those involved in the high-profile James McIngvale lawsuit.

Three 90-minute seminars will be held in the Oak Room of the Crowne Plaza Lexington-The Campbell House Hotel. There is no admission charge.

The following speakers, who are all affiliated with the law firm of Chamberlain, Hrdlicka, White, Williams & Martin, will make presentations in each of the seminars, which are scheduled for 7:30 a.m., noon, and 4:30 p.m.:

• David Aughtry of Atlanta, who won a lawsuit this year against the Internal Revenue Service in which court opinion recognized horses as a deductible business development tool. Aughtry will be speaking about how to take advantage of the latest rulings that could allow the claiming of up to 40% of tax losses for a Thoroughbred business.  

• Houston attorneys Hank Stout and Dan Pipitone will talk to owners about how to spot dual agency and common frauds in the purchasing and selling of Thoroughbreds and how to navigate the pitfalls of Thoroughbred ownership. Stout and Pipitone were the lead attorneys in the McIngvale case that alleged fraud against several horsemen, a legal action that was eventually settled out-of-court.
 
• Pam Powers, a Houston corporate tax attorney, will be speaking on how Thoroughbred owners can protect their Thoroughbred business interests from excessive taxes.  

Educational materials and food will be provided. For more information or to register, contact Crissy Bernal at crissy.bernal@chamberlainlaw.com or (713) 356-1718.