News
Lawyers for Hunter Biden to request dismissal of tax charges in L.A. court
A federal judge in Los Angeles will hear arguments on Wednesday regarding Hunter Biden’s request to dismiss nine tax-related charges, with his lawyers claiming that he is facing vindictive prosecution by the Justice Department. The president’s son also alleges that his rights were violated when two IRS agents publicly disclosed his confidential tax records.
Although Hunter Biden will not be present in court, his defense team, led by prominent attorney Abbe Lowell, will present eight motions to dismiss parts or all of the case. The arguments range from technical issues such as Biden’s residency status during the alleged tax violations to the validity of an immunity agreement signed by prosecutors.
The charges against Biden stem from his alleged failure to timely pay taxes on $7 million of income from 2016 to 2019, despite prosecutors claiming he did minimal work during that period. Biden paid off his tax debt, along with penalties and interest, in 2021.
Three of the charges, including tax evasion and filing false tax returns, are felonies and focus on how Biden reported his 2018 taxes. Prosecutors accuse him of misclassifying personal expenses as business expenses, such as paying for his daughter’s tuition, an exotic dancer, and an escort.
In addition to the tax charges, Hunter Biden has been separately indicted in Delaware for allegedly lying on a federal firearms form. He has pleaded not guilty in both cases and filed motions to dismiss in the Delaware case as well.
The current legal battle comes after a failed plea deal last summer, which would have allowed Biden to avoid a felony conviction and prison time. His lawyers argue that the Justice Department’s actions have been influenced by political pressure.
Prosecutors claim that Biden’s arguments are baseless, pointing out that his father, President Joe Biden, now oversees the Justice Department. They argue that the prosecution is not influenced by politics and is based on legitimate legal grounds.
Biden’s defense team also alleges that two IRS agents involved in the case have violated his due process rights by publicly discussing the investigation. Additionally, they argue that the diversion agreement signed with prosecutors should be upheld, despite prosecutors claiming it is not in force.
The motions to dismiss also assert technical errors in the case, such as statute of limitations issues and jurisdiction questions. Hunter Biden’s lawyers maintain that the charges against him are selective and vindictive, especially regarding his 2019 taxes, which he paid with penalties and interest.
As the legal battle unfolds, both sides are presenting their arguments before U.S. District Judge Mark C. Scarsi, who will ultimately decide whether to drop the charges against Hunter Biden.
News
Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.
-
News4 days ago
Kevin McCarthy, former House Speaker, seeks revenge
-
News1 week ago
Additional Perspectives on the 2024 Eclipse: Views from the Moon and Earth’s Orbit
-
News5 days ago
Juno discovers massive lava lake on Io
-
Entertainment3 weeks ago
Actor Cole Brings Plenty, known for ‘1923’, tragically passes away at 27 following accusations of domestic violence.
-
News1 week ago
Knowing the Magnetic Field of an Exoplanet’s Star is Essential to Determining the True Size of the Exoplanet
-
News5 days ago
Possible Future Colleague of Trump: David Lammy, a Close Associate of Obama
-
News3 weeks ago
Webb Observes a Galaxy Brimming with New Stars
-
News2 weeks ago
Akebono, Sumo Champion from Overseas, Passes Away at 54 in Japan