I've just received an email from David Darrow and I thought it might be useful for you guys in the U.S.
Here you are...
"Please forgive the 'business' nature of this e-mailing. I just want to ask for your support in one area of the Arts in the USA (for voters only).
Actually I am not a huge fan of the National Endowment for the Arts (NEA) or other government art-related programs, so I often balk at mention of "The Arts" when related to legislation, but this particular Bill that I would like you to support just makes sense.
Artists' Deduction Bill
Did you know that if a non-profit organization contacts me and asks me to paint a painting for them and donate it to them so that hey may raise funds, I instead consider whether or not I'd rather just write them a check?
This is because the current tax laws will only allow me a tax deduction based on the cost of materials!
Example: I donate, say, a 30" x 40" painting, which will take me a month or more to produce, and which I might normally sell for $6,000 - $10,000 if commissioned, and all I can deduct from my taxable income is the cost of materials used in the physical painting: Stretcher bars ($50), Linen/Canvas ($30) and paint ($ ??? maybe $30? how do I figure that out?). So, I work for a month or more and give the painting away to help a cause I want to support, and then I get to deduct $110 from my taxable income.
Sweet deal.
Not!
The Artists' Deduction Bill will finally allow artists to deduct the fair market value of their donated work. If Ford or GM can donate a vehicle and write off the Retail Value as a deduction, why shouldn't I be able to lower my tax burden by deducting from the total of my taxable income the amount of money I did not earn that month in my charitable gesture?
The Bill does not begin the lobbying process until March, but I ask you, my friends, to please voice your support of this Bill by taking 2 minutes of your time and visiting the legislation page at the Art Calendar website (for more info)
http://www.artcalendar.com/article.asp?ID=72 , or go directly to the form (
http://capwiz.com/artsusa/issues/ale...521951&type=CO ) you can fill in with name and address, where a copy of your support in an editable pre-written letter will be auto-mailed to your Congress member(s).
Thank you! --David
PS- Please consider FORWARDING this to message boards, other groups and/or friends you know who are likely not on my mailing list. Thanks!"
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