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  #1  
Old 04-09-2008, 07:27 PM
icreate icreate is offline
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VERY IMPORTANT- Please read this article about supporting the artists deduction bill.

Please read this article expressing the urgency in supporting the Artist deduction bill S. 548 and HR 1524.http://www.bestofartists.com/sculpture-blog/

It is very important. The article has plenty of links for you to look at.

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Bridgette
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  #2  
Old 04-09-2008, 07:39 PM
icreate icreate is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

oh yes and please pass this on to every artist you know!
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  #3  
Old 04-10-2008, 08:29 AM
Zoomcity Zoomcity is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

This law SHOULD NOT BE PASSED!

This law Helps only established artists!

This law HURTS the non-commercial artist!

The little person will suffer!

STOP THIS LAW!!!!!!!!!!!
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  #4  
Old 04-10-2008, 08:48 AM
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Without reading the article I assumed this was another arts bill that would reach into the working man's pocket to pay for art. WRONGOLA!

All this bill is asking for is that artists can deduct from THEIR OWN income tax calculations, the fair market value of works donated to non-profit entities, rather than merely the cost of materials. A person who purchases a work and then donates it in the same manner gets to deduct full-market value, so why should the creator of the work not be able to do the same?

This bill is a good thing, and unlike ZC's post which is not only untrue but lacking the wisdom to see the bigger picture, it could help bring about more opportunities for artists to get their work out publically, and for more institutions to consider acquiring works.

Remember, it is not a payment of tax dollars to the artist, it is a lessening of the artists own tax burden so as to encourage donation of artwork.
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Old 04-10-2008, 08:59 AM
icreate icreate is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

zoomcity, As a writer and journalist, along with being a sculptor I would greatly appreciate it if you could explain and back up your claims. I just don't know how you can say what you said after reading the bill and truly understanding it.
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  #6  
Old 04-10-2008, 09:28 AM
Zoomcity Zoomcity is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Who is to pay the burden of appraisal? Anything over 5 grand must be appraised. What is going to happen is that this bill will only embrace and benefit those artists who are already established. How else is the work to be appraised? How do you appraise work that has yet to sell? You betcha! This is legislation once again FOR THE RICH! This time the rich artist benefits!

I see a WHOLE LOT OF GRAFT with this bill! I see a heck of a lot of potential for kick backs! There was big reason for the 1969 bill. So don't change it!

The 1969 bill allows only for the patron to write off the work. Therefore the work must be sold first, THEN donated and written off. The new bill will eliminate the sales requirement. The institution can work directly with the artist (graft potential), thus eliminating or slowing down sales, hurting many, many artists who need cash!

If you can't see this you are blind!

The only artist to benefit from this bill are the rich ones! You have to have already made a slew of money to write anything off!

STOP THIS BILL !!!

THIS BILL IS FOR THE RICH !!!!
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  #7  
Old 04-10-2008, 09:36 AM
icreate icreate is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

I am not rich. I have worked years at my art, my reputation and making a name for myself. It is funny that I have to pay taxes on inventory that is not sold, but can't deduct the full amount of artwork that I donate.

I will pay for the appraisal I don't ask for anyone else to.

Please also note this portion of the article....
"
Here is some more information from the Americans for the Arts website that indicates the importance of this bill and how immediate the effect of the 1969 legislation was.

• The Museum of Modern Art in New York received 321 gifts from artists in the three years prior to 1969; in the three years after 1969 the museum received 28 works of art from artists—a decrease of more than 90 percent.
• The biggest loser was the Library of Congress, which annually received 15 to 20 large gifts of manuscripts from authors. In the four years after 1969, it received one gift.
• Dr. James Billington, Librarian of Congress, says, “The restoration of this tax deduction would vastly benefit our manuscript and music holdings, and remove the single major impediment to developing the Library’s graphic art holdings. [The] bill would also benefit local public and research libraries. When this tax deduction was allowed in the past, many urban and rural libraries profited from the donation of manuscripts and other memorabilia from authors and composers who wanted their creative output to be available for research in their local communities.”

Thank you for your reply and your opinion. I hope we can agree to disagree. Lets see how others feel on this forum.
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  #8  
Old 04-10-2008, 09:38 AM
Zoomcity Zoomcity is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Lets look at this. Do you really think anyone would spend (or waste) their time writing and passing legislation intended solely for artists? So who really is behind this bill? I'll tell you! Non-profit corporations are fricken huge in this country!

Non-profit means NO-profit! Ever look and see the salaries of all those people who work for non-profits? BIG BUCKS! Non-profit my arse!

I don't like the idea of selling to non-profits for tax write offs! All those silent auction fundraisers all those charity non-profits have. Now all the crap they auction off will be called art and written off. See? Another area for graft!
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  #9  
Old 04-10-2008, 09:50 AM
Zoomcity Zoomcity is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Quote:
• The Museum of Modern Art in New York received 321 gifts from artists in the three years prior to 1969; in the three years after 1969 the museum received 28 works of art from artists—a decrease of more than 90 percent.
This museum is loaded with cash! They should, and do, buy the work! This bill would eliminate the need for the museum to actually BUY the work from the artist. This bill will let them connive it for free!

Quote:
The biggest loser was the Library of Congress, which annually received 15 to 20 large gifts of manuscripts from authors. In the four years after 1969, it received one gift.
One gift eh? How many did they buy? Personally, I'd take the cash over giving it away!

Quote:
• Dr. James Billington, Librarian of Congress, says, “The restoration of this tax deduction would vastly benefit our manuscript and music holdings, and remove the single major impediment to developing the Library’s graphic art holdings. [The] bill would also benefit local public and research libraries. When this tax deduction was allowed in the past, many urban and rural libraries profited from the donation of manuscripts and other memorabilia from authors and composers who wanted their creative output to be available for research in their local communities.”
I've seen some of the crap local communities are given! Why should the people who donate hogwash, get tax write offs?

Oh, I've seen your website, Icreate. Knocking off and selling $23,000.00 staues is rich to me baby!

STOP THIS BILL !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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  #10  
Old 04-10-2008, 10:21 AM
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

I’ve read the bill, and sympathize for you and other artists... for your sake i hope it passes. However, I agree that it could be a windfall for some unscrupulous full time amateur artists like me that have never sold art or plan too.

Statistically, I’m in the top 3% tax group now…… this would be great!!!!
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  #11  
Old 04-10-2008, 06:15 PM
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Oscar, Aka Zoomcity, is proof that people who divide people by class have no class.
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  #12  
Old 04-10-2008, 06:39 PM
Zoomcity Zoomcity is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

People who continue to deride topics via insults need to go to class!

STOP THIS BILL

This bill supports big business non-profits....NOT the artist!
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  #13  
Old 04-10-2008, 07:14 PM
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Who is to pay the burden of appraisal? Anything over 5 grand must be appraised. "

How many of us donate something worth FIVE THOUSAND bucks and up?
I don't think any of us here could afford to do that, so that wouldn't apply to us and it fits a scenario we won't run into- like a special gas tax on Rolls Royces won't affect us either.

"How do you appraise work that has yet to sell? "

How do any of us price our work?? once you figure a price, you would PUBLISH a catalogue or otherwise have some printed or other media showing what your price is on this item- just like damage claims with UPS etc, they require you to send a copy of your invoice or catalogue, or web page etc showing the PRICE and what you charged, so to show what the item is worth you would send a copy of your web page, brochure, catalogue or whatever showing the work in photos , size and your price.
Seems to me thats all you NEED.
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  #14  
Old 04-11-2008, 05:51 PM
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cheesepaws cheesepaws is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Quote:
Originally Posted by Landseer View Post
"How do you appraise work that has yet to sell? "
How do any of us price our work?? once you figure a price, you would PUBLISH a catalogue or otherwise have some printed or other media showing what your price is on this item- just like damage claims with UPS etc, they require you to send a copy of your invoice or catalogue, or web page etc showing the PRICE and what you charged, so to show what the item is worth you would send a copy of your web page, brochure, catalogue or whatever showing the work in photos , size and your price.

Seems to me thats all you NEED.
My understanding is that you need to be able to show documented proof of value through purchase records. If you don’t have those then the insurance will generally only cover the cost of materials (if you have proof of those costs as well). Your time, training, or the importance of the work in respect to your oeuvre – as far as I understand – don’t mean much until you have established a consistent market value for your work. Simply self-publishing your price probably wouldn’t be enough regardless of how reasonable the prices might be.

That said, I believe there are specialty art insurance companies that allow the issue to be side-stepped…for a price.

At most colleges and grad schools student work is rarely considered insured mostly because it has yet to establish a market value.
I bet this could be challenged though.
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  #15  
Old 04-11-2008, 06:50 PM
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Aaron Schroeder Aaron Schroeder is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Assuming that artist could some how collectively work together, pool their money and influence lobbyist (which seems like such a stretch) the bill that should be pushed is the "Double deduction for the Arts Bill",which rich people and poor artist alike would love. The idea is......purchase a work of art.....deduct ...twice the value from your taxes. Who wouldn't love that ?

Of course I'm dreaming but I do cherish the vision of Dick Cheney running to a loser artist studio and purchasing a way over priced work of art at the last minute just so he could get out of paying more money towards the war he so firmly believes in.

Zoom, I see your line of reasoning....and sure it kind of makes sense but here's the thing......people don't buy art and make donations to non-profits so they can pay less taxes. Any bean counter will tell you it's just cheaper to pay your taxes. Also...as far as I know there is no official way to become a state or federal certified art appraiser, anyone could fullfill that role.

Explain how the buying art from poor unestablish artist to pay less taxes racket works. If I understood how that worked perhaps I could share that with my rich clients. They'd thank me and then I could thank you.
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  #16  
Old 04-13-2008, 07:37 AM
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Julianna Julianna is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

More here:
http://theartlawblog.blogspot.com/20...ing-about.html

and here:
http://www.chicagoreader.com/feature...siness/080410/
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  #17  
Old 05-09-2008, 02:13 PM
icreate icreate is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Americans for the Arts liked the article as they put a link to it in their blog.
http://blog.artsusa.org/
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  #18  
Old 05-16-2008, 08:11 PM
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

I read the bill...seems to be a damn fine piece of legislation that will solve some of the inequities in the donations process. Don't know who this zoom guy is, and what crawled up his posterior cavity, but I like the bill. If it passes I will definitely "up" my not-for-profit / charitable donations of work (I find it a great way to get local / regional exposure for my work.... charity auction buyers soon became repeat customers...)

I say email your Senator & Representative & let them know you support this bill

"Blacksun" has had a full day in the studio & is very tired....so, I think I'll go to sleep and dream of all the tax deductions I can take next year...

Zoomy buddy, I think you just need to buckle down and get a sales record so you can take advantage of this marvelous new opportunity in a few years.....trust me, the system is not out to get you....work it - make it yours.....

Last edited by Blacksun : 05-16-2008 at 08:12 PM. Reason: typos
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Old 05-16-2008, 09:35 PM
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

ok pretend i'm from mars or just really damned ignorant
how does the current law work?

eg, if i traded a sculpture (statuette valued at $125 retail)for a painting,
and now the painter's work is selling for 1000 a pop
and i donate the painting i have
do i donate it at $1000 and take the 1k deduction
without recognizing any capital gains
and then, does that revalue my statuette at $1000

or
eg, if i buy a painting for $100, and her work now sells for $1000-5000
and I donate the one i have,
do i get to deduct $3000(average)
then if i have a now valued $3000 painting for which I paid a c.buck
is there $2900 capital gains involved?

or is that a freebee?

confusedly yours
rod
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  #20  
Old 05-16-2008, 10:08 PM
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GlennT GlennT is offline
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Re: VERY IMPORTANT- Please read this article about supporting the artists deduction b

Quote:
Originally Posted by sculptor View Post
ok pretend i'm from mars or just really damned ignorant
how does the current law work?
If you are from Mars, current law does not require that you file an income tax return, unless you have changed your alien status to become a US citizen.
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