Archives for February 25, 2019

Incredible, Short-sighted Kentucky Tax Change Hurts the Average Player

“On April 14, 2018, the Kentucky General Assembly passed a sweeping tax reform bill (HB 487) that officially became law on April 27, 2018. In addition to many other changes, HB 487 created a new section of Chapter 141 of the Kentucky Revised Statutes—KRS 141.019,” Coffman wrote in an email to BloodHorse. “Effective for tax years beginning on or after Jan. 1, 2018, KRS 141.019(2)(c) specifically prohibits individuals from including any deduction allowed for losses under Internal Revenue Code section 165 when calculating their net income for Kentucky tax purposes.

The state government’s Ky.gov website on changes to Kentucky tax law for 2018 also is seemingly straightforward. Under a question-and-answer section of the site where it’s asked, “Am I allowed to claim gambling losses as an itemized deduction?” the answer reads, “No. Kentucky no longer allows gambling losses to the extent of gambling winnings for tax year 2018 and thereafter. If you are reporting gambling income you received from another state, you may be allowed to credit for tax paid to another state.”

Add Age Discrimination to the Long List of Offenses out of Saudi Arabia

Hall of Famer Prado deemed too old to ride in Saudi Arabia

Most people are not aware and it’s hard to believe but the country of Saudi Arabia is head of an important part of the United Nation’s Human Rights Council.  No, that’s not an Onion story, that’s reality.  Well, here’s their latest offense …

Per HRN, Hall of Fame jockey Edgar Prado, 51, posted to his Twitter account a copy of Saudi Arabian rules saying licensed riders must be no younger than 16 and no older than 50 — something he didn’t know until making a recent move overseas.

“I wish I could be more informed about (this rule) before I left USA and my business,” Prado tweeted, “to ride here under contract.”

returned back to america after i find out i can’t get license here in saudi arabia from the jockey club, because of my age, anyway thank you so much to mr Adelal Almazroa, i wish i could be more informed about before i left USA and my business, to ride here under contract, SAD ! pic.twitter.com/3HkZ0E1yu6

— edgar prado (@edgarp5361997) February 21, 2019

The native of Peru began 2019 riding at Gulfstream Park, where he won one race from 10 starters. He last took a leg up in the U.S. on Jan. 26, when he rode Something Awesome to a 10th-place finish in the Pegasus World Cup (G1).

By Feb. 1, he was riding overseas, at least until discovered to be too old for it.

Prado’s news comes amidst a golden age for older jockeys, as Mike Smith (53) won …