This topic seems to be a good fit for the business and marketing section. I just heard about it from a painters' list I belong to.
The Charity Aid, Recovery, and Empowerment Act to allow artists to write off the fair market value of their donations is pending. Anyone interested should contact his or her senators. You might want to distribute this to other artists as well. This is what I just sent to Senators Corzine and Lautenberg of NJ:
I am writing to request that you support the passage of the CARE Act, section 110 of which "permits, for a contribution of certain literary, musical, artistic, or scholarly composition, or similar property, or any associated copyright, a deduction for the full market value (subject to income limitations and without any carryover) of such contribution." Currently artists who donate their work may claim only the cost of the raw materials used for the piece, and not the fair market value of their art. Please vote to remedy this situation so that artists no longer are asked to give without tax credit when donating their work. Passage of the CARE Act would end this unfair penalty for artists, and would benefit charitable organizations by creating greater incentives for artists to support them through donations of their art.
The original post, with more information about the Act, is below:
URGENT ACTION REQUESTED
We are asking members to back important tax legislation as soon as possible. Please contact your U.S. Senators this week, by e-mail, telephone or fax, and let them know that you support passage of S. 272, the Charity Aid, Recovery, and Empowerment Act of 2003 (the "CARE Act"). The CARE Act contains the Artist-Museum Partnership Act, legislation that would make authors' manuscripts and other creative works that they donate to nonprofit organizations deductible for tax purposes at their appraised fair market value. The Senate version of the CARE Act no longer contains any "faith-based initiatives."
TIMING & CONTACT INFO
The full Senate is expected to vote on the bill before Friday, April 11. This vote is critical. A list of all senators and their contact information and the text of the bill are available at
http://www.senate.gov .
PLEASE COPY US
If you contact your senators, please let us know. Simply e-mail us at
[email protected] to let us know you called your senators, or send a copy of your e-mails to the same address. If you contact your senators by fax, please copy us at (212) 564-5363.
BACKGROUND
For three years, the Authors Guild has supported proposed changes to the tax code that would allow authors and artists to deduct for tax purposes the appraised market value of their own work (such as manuscripts, first editions, or fine artwork) that they donate to museums, universities and libraries. Current tax laws permit the creators to deduct only the value of the materials used in creating the work, such as the expense of the paper and ink in the case of an original manuscript. Collectors and others, however, are permitted to deduct the fair market value of donated manuscripts.
The righting of this inequity, which has harmed not only potential donors and non-profit institutions, but scholarship itself, has never come to a vote before the full Senate. We cannot overstate this vote's importance. If it passes the Senate, its chances in the House of Representatives increase dramatically.
Many thanks for your help in this matter.
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