Rational Tax Policy

An article in THE ART NEWSPAPER, "Artists should have same tax deductions as collectors when donating works of art," pleads the case as follows:

Art museums large and small depend on donations from art collectors to build and sustain their collections. By creating a tax incentive for these donations—donors receive a tax deduction for the fair market value of works of art they donate—the US Congress has supported the development of non-profit art institutions and expanded the public audience for art. But artists donating their own works receive a deduction only for the cost of materials used to create the work, for example canvas and paint.

I would be more disposed to donate to a museum or to the frequent calls and pleas I receive from innumerable good causes if I could at least deduct the presumed sale value of my work beyond the cost of the materials. My 24"x30" masonite panels cost about $2.50 each, the acrylic paint might cost out to $1.00 per panel (remember the dilution factor), I might use 1/8th to 1/16th of 10 or 12 pencils that cost me $1.25 each, so totting that up is about $5.50 tops, and there's no factoring in time or years of experience or schooling. I try to sell these for at least $200, having sold about 4 total. A decent quality frame is $55.00, that's without a matte or backing of any type.

So, remember to buy art from a living artist such as myself or any of the wonderful artists listed in my sidebar in the LINKs section so we can buy more paint and supplies. And write your congress people in support of the "Artist Museum Partnership Act."