FYI/NEWS - Artist's Tax Deduction

Subject: FYI/NEWS - Artist's Tax Deduction
From: katlaughing
Date: 07 May 01 - 06:19 PM

I just received the following from the National Writer's Union. I recall some of us were talking about deducting expenses etc. from donations to non-profits this year. Looks like it is time to write to our Congresspeople:

You can take action on this alert either via email (please see directions below) or via the web at: http://www.GetActiveHub.com/take-action.tcl?key=1339141A12795B0507055908C185

Visit the web address below and tell your friends to take action on this important campaign! http://www.GetActiveHub.com/campaign/artiststaxdeduction/forward?rk=o1q0L141sdzDW

We encourage you to take action by June 3, 2001

Artists Tax Deduction

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The Artist-Museum Partnership Act (S 694)is important to you and other writers--and it will be acted on soon by the U.S. Senate. This bill would allow all artists, including writers, to deduct from their taxes the fair-market value for self-generated works donated to a non-profit institution.

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http://www.GetActiveHub.com/take-action.tcl?key=1339141A12795B0507055908C185

INSTRUCTIONS TO RESPOND VIA EMAIL: Just choose the "reply to sender" option on your email program, and edit the letter below as you wish. Do not delete "-YOU MAY EDIT THE LETTER BELOW-" and "-END OF LETTER-". Please do not add your name and address to your letter. Our system automatically does this for you.

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-------YOU MAY EDIT THE LETTER BELOW---------

I urge you to become a co-sponsor of the Artist-Museum Partnership Act (S.694)introduced by Senators Leahy and Bennett that would allow artists to deduct fair-market value for self-generated works donated to a non-profit institution. Passage of this legislation would enable museums, libraries and archives to solicit original works from artists, writers and composers who are both regional and national and help us strengthen the collections in communities across the nation

Currently, an artist, writer or composer can only deduct the cost of materials to create the work, which is not a large incentive to donate, particularly since the majority of artists, writers and composers in this country earn very little.

Since the law allowing artists to deduct the fair-market value of self-generated works to a museum or library was repealed in 1969 there has been a dramatic decline in the number of such gifts offered to institutions.

Many national and important regional artists, writers and composers sell their original works to private collectors or abroad, which effectively keeps them from ever being seen by the American public.We are, in essence, deprived of part of our cultural and artistic heritage.

I look forward to hearing that you have become an original co-sponsor of this most important cultural legislation.

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Subject: RE: FYI/NEWS - Artist's Tax Deduction
From: Peg
Date: 07 May 01 - 11:59 PM

OMG!!!!!!!!

Count everything I have doen for Witchvox and I am a wealthy woman...

Thanks kat; this could be very wonderful for many artists...

Subject: RE: FYI/NEWS - Artist's Tax Deduction
From: Charley Noble
Date: 08 May 01 - 08:19 AM

Glad to hear there is a lobby effort going for this reform. It seems absurd, if not insulting, that an artist can only deduct costs of materials for a painting while someone else who has bought that work can deduct what they paid for it if they donate it to the proper entity. So the change happened back in 1969 – sigh.