If you have several pieces of artwork and do not want to either hold on to the artwork or market it yourself, since Verdult artwork, in our opinion is sometime away from being sold in places like Christie's or Sotheby's, then why not consider an art donation?
If you donate your art to the proper organization in the proper way, you may deduct the value of your donation from your state and federal income taxes.
You want to look for two things prior to taking this approach:
1) A qualified appraiser who's appraisals are acceptable to the I.R.S; and
2) A qualified 501(c)(3) organization s this technique.
We aheve worked with a number of artlovers and investors to secure a solid tax write-off ther right way.
If you require assistance, see our Yazzy’s Fine Art Charitable Donation Program
We have a number of investors who have participated in a donation program for tax purposes.
So please advise exactly what challenges you are facing and we will be happy to point you in the right direction.
Better yet simply Look on the left menu bar here under V. Gifting
Click on A Tax Donation Program
This will take you to our: Yazzy’s Fine Art Charitable Donation Program
We will take care of you there or email me.
Thanks
Mike
mike@Verdultgallery.com
Posted by: Mike | August 06, 2007 at 04:47 AM
It would be indeed nice if this were the case. However, there are certain requirements that institutions must abide by in order for a Verdult donation to be accepted as donation for tax purposes. The institution must have a valid exhibit of Verdult Paintings. I have yet to find one single Museum or IRS accepted institution that meets this criteria. Why is this such a mystery? Why not just publish a list where people can donate their Verdult artwork? If it is for Capital gains, then quite possibly this would increase your overall sales. Thank You
Posted by: Rick | August 05, 2007 at 07:43 PM