Archived posting to the Leica Users Group, 2015/01/08
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Ah, that's a really great idea, Ken. Hospices that need some wall art would probably be very appreciative ? and their clientele even more so. What better thing than to provide some cheer to those most in need? Wilbur *************** On Jan 8, 2015, at 5:47 PM, Ken Carney wrote: > Here I can rent a small climate-controlled warehouse space for $100/month > (probably $10,000/month in CA) and bury stuff until I really really have > to deal with it. Money well spent at times. Do you have any galleries > where you can consign the work? Regarding the charitable part, tax-exempt > hospitals (IRC ?501(c)(3)) would probably really like to have landscape > work. It would be for a good purpose, exposure for your work and a > windfall for the hospital. Maybe a few pieces each year donated to avoid > the devaluation issue? > > Ken > > > On 1/8/2015 5:01 PM, Robert Adler wrote: >> Thanks Tina and all. Still struggling, but all the varied answers are >> helpful. >> I'm not really trying to make any money, but don't want to loose any >> either >> or devalue the work by either giving it away (when others have paid) or >> defacing it before taking to the dump. >> >> Most the frames are floating frames made for each image: different sizes, >> etc. I'm still considering storage somewhere... somewhere... >> Thanks again. Other suggestions welcome of course. >> Best, >> Bob >> >> On Thu, Jan 8, 2015 at 2:26 PM, Tina Manley <tmanley at gmail.com> wrote: >> >>> Most of the work that I have donated to charities has been as >>> photographic >>> work for them to use in fund-raising. The way I get around the tax >>> donation is to charge them my normal rates for the work and then turn >>> around and donate that much back to them. None of the charities I've >>> worked with has had a problem with this. I don't know if you could work >>> something out like that for print donations, but it might be worth >>> investigating. >>> >>> Tina >>> >>> On Thu, Jan 8, 2015 at 3:19 PM, Ken Carney <kcarney1 at cox.net> wrote: >>> >>>> That's correct. Under ?170(e), IRC, the fair market value must be >>> reduced >>>> by any ordinary income that would be recognized on a sale. In other >>> words, >>>> for all practical purposes donations of self-created art are limited to >>>> cost of producing it. It gets worse. If the item is not self-created, >>> and >>>> is not donated "for the use of" the charity, then the deduction is >>> reduced >>>> by any gain that would be recognized. So if you donate the Picasso to a >>>> charity for the purpose of the charity selling it, your deduction is >>>> limited to your cost. And if the appraisal rules kick in, they apply to >>>> the total of similar items donated, not each individual item. >>>> >>>> It gets worse. Suppose you are a really gifted photographer and you >>>> create a photo worth, oh I don't know, say $6.5 million and hang on to >>> it. >>>> You have probably created a death tax liability of 40% of that. Enough >>> for >>>> one day. >>>> >>>> Ken >>>> >>>> >>>> On 1/8/2015 1:18 PM, Wilbur Norman wrote: >>>> >>>>> In regards to Tina's comment: >>>>> >>>>> I believe the deductions she is referring to are for items NOT CREATED >>> BY >>>>> THE PERSON who is making the donation. So, if you donate a Picasso, you >>> get >>>>> a Fair Market Value. For items created by the artist donating, its >>> another >>>>> ball of wax. >>>>> >>>>> And, I believe the ceiling for NOT getting an appraisal is $5000 as >>>>> amended in the Pension Law some years ago (seems odd but thise folks in >>> DC >>>>> add non-related items to laws all the time.) >>>>> >>>>> >>>>> Wilbur >>>>> >>>>> >>>>> >>>>> >>>>> ************* >>>>> >>>>> On Jan 8, 2015, at 12:02 PM, Susan Ryan wrote: >>>>> >>>>> Can you take a tax deduction for a charitable donation? If so, how do >>>>>> you choose a dollar value of the photos donated? >>>>>> >>>>>> Thanks, >>>>>> Sue >>>>>> >>>>>> Sent from my iPhone >>>>>> >>>>>> On Jan 8, 2015, at 11:50 AM, Tina Manley <tmanley at gmail.com> >>>>>> wrote: >>>>>>> That's probably the best solution - donate to charity auctions. I've >>>>>>> done >>>>>>> that quite a bit and it's always appreciated. >>>>>>> >>>>>>> Tina >>>>>>> >>>>>>> On Thu, Jan 8, 2015 at 1:49 PM, Doug Herr < >>> wildlightphoto at earthlink.net >>>>>>> wrote: >>>>>>> >>>>>>> Donate to charity auctions? >>>>>>>> Doug Herr >>>>>>>> Orangevale, Sacramento County >>>>>>>> http://www.wildlightphoto.com >>>>>>>> http://doug-herr.fineartamerica.com >>>>>>>> >>>>>>>> >>>>>>>> -----Original Message----- >>>>>>>> >>>>>>>>> From: Robert Adler <rgacpa at gmail.com> >>>>>>>>> Sent: Jan 8, 2015 10:07 AM >>>>>>>>> To: Leica Users Group <lug at leica-users.org> >>>>>>>>> Subject: [Leica] OT: What would you do? >>>>>>>>> >>>>>>>>> I have a dilema. I'm moving back into my old home and clearing out >>> 25+ >>>>>>>>> years of "stuff", Clean sweep. >>>>>>>>> >>>>>>>>> I know some of you have been through this recently >>>>>>>>> (George/Tina/etc.). I >>>>>>>>> have a ton of framed prints that haven't sold at galleries/coffee >>>>>>>>> shops, >>>>>>>>> but that doesn't mean they aren't lovely (IMO). >>>>>>>>> >>>>>>>>> They are custom framed and mounted. Archival. The works. I don't >>> want >>>>>>>>> to >>>>>>>>> give them away (I think that devalues all art), and I don't want to >>>>>>>>> pack >>>>>>>>> and ship them to folks. >>>>>>>>> >>>>>>>>> Please PLEASE suggestions? The dump just seems wrong.. >>>>>>>>> Thanks! >>>>>>>>> -- >>>>>>>>> Bob Adler >>>>>>>>> www.robertadlerphotography.com >>>>>>>>> >>>>>>>>> _______________________________________________ >>>>>>>>> Leica Users Group. >>>>>>>>> See http://leica-users.org/mailman/listinfo/lug for more >>> information >>>>>>>> _______________________________________________ >>>>>>>> Leica Users Group. >>>>>>>> See http://leica-users.org/mailman/listinfo/lug for more information >>>>>>>> >>>>>>> >>>>>>> -- >>>>>>> Tina Manley >>>>>>> www.tinamanley.com >>>>>>> tina-manley.artistwebsites.com >>>>>>> http://www.alamy.com/stock-photography/3B49552F-90A0- >>>>>>> 4D0A-A11D-2175C937AA91/Tina+Manley.html >>>>>>> >>>>>>> _______________________________________________ >>>>>>> Leica Users Group. >>>>>>> See http://leica-users.org/mailman/listinfo/lug for more information >>>>>>> >>>>>> _______________________________________________ >>>>>> Leica Users Group. >>>>>> See http://leica-users.org/mailman/listinfo/lug for more information >>>>>> >>>>> _______________________________________________ >>>>> Leica Users Group. >>>>> See http://leica-users.org/mailman/listinfo/lug for more information >>>>> >>>> >>>> _______________________________________________ >>>> Leica Users Group. >>>> See http://leica-users.org/mailman/listinfo/lug for more information >>>> >>> >>> >>> -- >>> Tina Manley >>> www.tinamanley.com >>> tina-manley.artistwebsites.com >>> >>> http://www.alamy.com/stock-photography/3B49552F-90A0-4D0A-A11D-2175C937AA91/Tina+Manley.html >>> >>> _______________________________________________ >>> Leica Users Group. >>> See http://leica-users.org/mailman/listinfo/lug for more information >>> >> >> > > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information