/Tag: art tax benefits

Antiques, Art & Collectibles – Plan To Maximize Tax Benefits

By |2020-04-07T22:27:09+00:00April 3rd, 2019|Categories: Blog|Tags: , , , , , , |

Art, antiques and collectibles are mentioned in portions of the Internal Revenue Code, usually with more stringent rules surrounding them. Note that by donating the same piece of art instead of selling it, you would remove the 28% capital gains tax and you would receive an income tax deduction for the appraised value of the art.

Art, Antiques & Collectibles – Plan To Maximize Tax Benefits

By |2017-08-10T22:18:20+00:00August 9th, 2017|Categories: Tax Planning|Tags: , , , , , , |

Art, antiques and collectibles are mentioned in portions of the Internal Revenue Code, usually with more stringent rules surrounding them. Note that by donating the same piece of art instead of selling it, you would remove the 28% capital gains tax and you would receive an income tax deduction for the appraised value of the art.

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