Longtime equine tax attorney Richard Craigo died Oct. 6 in Los Angeles, Calif. He was 91.
Born April 30, 1934, in Hot Springs, Ark., Craigo developed a love of horse racing at an early age. He would often sneak away to watch the races at Oaklawn Park, home of the Arkansas Derby (G1).
After earning his B.A. from the University of Arkansas, Craigo served three years in the United States Air Force. His first civilian summer was spent in Lexington, working at John Hertz's Stoner Creek Farm as an assistant to the famed farm manager Charlie Kenny.
Craigo graduated with honors (Law Review and Order of the Coif) from the University of Southern California Law School and was admitted to the California State Bar in 1967. A certified tax specialist, he devoted his practice almost exclusively to equine matters. He was especially adept at handling IRS challenges under the so-called "Hobby Loss" cases against the IRS, successfully negotiating every one of his 150 completed negotiations with the agency.
In 1976, Craigo was elected to a three-year term as President of the Horsemen's Benevolent and Protective Association, California Division. At the time, he was the youngest person ever elected to the post. During his tenure, the HBPA launched the current backstretch pension plan, secured owners' rights to have interest earned on purse accounts added to purse monies, and achieved the first nationally recognized simulcast legislation. Craigo served as HBPA's National Vice President from 1977-1979.
Over the course of his distinguished career, Craigo represented more than 200 owners, breeders, trainers, veterinarians, and bloodstock agents worldwide. His clients included many of the sport's most prominent figures, among them Willie Shoemaker, Charlie Whittingham, Bob and Beverly Lewis, Allen Paulson, B. Wayne Hughes, Mike Pegram, Donald Valpredo, Martin Wygod, Tommy Town Thoroughbreds, Mickey and Karen Taylor, and the National Turf Writers Association. He took special pride in standing in the winner's circle with clients for four Kentucky Derby (G1) wins.
Craigo was the prevailing attorney in several significant tax cases, including Tolin v. Commissioner, T.C. Memo 2014-233, and Roberts v. Commissioner, decided by the Seventh Circuit Court of Appeals. He was a frequent lecturer before horse owner and breeder groups on equine taxation, syndication, and related topics, including twelve appearances before the American Horse Council. He also authored numerous articles published in leading industry journals, including The Thoroughbred Record, California Thoroughbred, Thoroughbred Times, Hackney World, The Horsemen's Journal, Daily Racing Form, and BloodHorse, among others.
Craigo's devotion to his clients never wavered. Though he gradually reduced his workload in later years, he never formally retired.
Craigo was preceded in death by his parents; his sisters, Lelia "Cis" Wright and Ann Dougherty; and his nephews, Craig Wright and Harry Kenneth "Butch" Dougherty (Cathy). He is survived by his daughter, Brittany; son-in-law Mark Maldonado; grandchildren Hannah and Micah; niece Stacy McDaniel (Jim); legal assistant Crystal Banks; and dear friend Noreen Sullivan.
This press release has been edited for content and style by BloodHorse Staff.
