Pamela Regentin on wed 30 may 07
I have given work to charities and when I ask they give me a receipt for the value of the donated work. Since my taxes are itemized this is something I want for deductions. Often the receipt is in the form of a thank you letter from the organization.
Pam
Marcia Selsor wrote: If the promoters of this non-profit event actually promote the
quality of the donators, then it may be a gratifying experience.
When the pieces are treated as anonymous pieces, it can be demeaning
if not down right insulting not to get any acknowledgement whatsoever.
I think promoters have a responsibiltiy when asking for
donations..."get your work shown" attitude. There needs to be some
respect givin to to donators.
Marcia Selsor
http://marciaselsor.com
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Marcia Selsor on wed 30 may 07
If the promoters of this non-profit event actually promote the
quality of the donators, then it may be a gratifying experience.
When the pieces are treated as anonymous pieces, it can be demeaning
if not down right insulting not to get any acknowledgement whatsoever.
I think promoters have a responsibiltiy when asking for
donations..."get your work shown" attitude. There needs to be some
respect givin to to donators.
Marcia Selsor
http://marciaselsor.com
Terrance Lazaroff on thu 31 may 07
To all;
When our art centre asks faculty for donation works they pay the artist 30%
of the sale. Makes it easier on all.
As for empty bowls, don't ask for a receipt and give the volunteers a break.
Terrance
Visit Terry's web site. www.http;//clayart.ca/
Richard Aerni on thu 31 may 07
Oh boy, here we go again!
I'm sure that many many folks will point out that artists are unable to
donate anything but the costs of materials used in creating a work of art.
If you are filing taxes as a business, you have already deducted them on
your schedule C, so really, you are allowed to donate zip, zero, nada. If
you are a private citizen (or an artist) donating a work that you have
purchased, you are allowed to deduct the purchase price you paid on your
taxes. I have pointed these facts out to numerous agents of charitable
organizations, even as I donate, because it bothers me that they so blithely
allege the item is "tax deductible." Usually my little spiel is met with
polite disbelief, and a bit of bemused tolerance, as if I am being a scrooge
and they are involved in "good work." I too believe in doing good work, so
I donate generously to organizations whose mission appeals to me, both in
cash and in my own work, because it seems like the right thing to do, even
as I realize that I am in effect just giving my pots away to them.
My understanding is that this law limiting deductions of art and other "hard
to value" assets came about after the uproar caused by the huge deduction
the Nixon estate claimed for donating his papers to his library. I
understand there is a bill before Congress right now that would allow
artists more leeway in these charitable deductions, but I guess I wouldn't
hold my breath that it will have a hearing on the hill, not to mention passed.
Best,
Richard Aerni
Rochester, NY
On Wed, 30 May 2007 23:43:43 -0700, Pamela Regentin
wrote:
>I have given work to charities and when I ask they give me a receipt for
the value of the donated work. Since my taxes are itemized this is something
I want for deductions. Often the receipt is in the form of a thank you
letter from the organization.
>
>Pam
>
>Marcia Selsor wrote: If the promoters of this non-profit
event actually promote the
>quality of the donators, then it may be a gratifying experience.
>When the pieces are treated as anonymous pieces, it can be demeaning
>if not down right insulting not to get any acknowledgement whatsoever.
>I think promoters have a responsibiltiy when asking for
>donations..."get your work shown" attitude. There needs to be some
>respect givin to to donators.
jim on thu 31 may 07
Well I for one do donate occasionally to a couple local charities and I do
deduct the top value of the item I am donating. I am not donating my time.
I am donating an item and I am allowed to deduct the fair value of that
item. It is not critical in my circumstance as to where or how I came into
possession of that item. I also work for a major manufactoring company and
we donate goods all the time. Also at the value of the item.. If I were to
buy a pot and donate it I could deduct the value of that pot. So far I have
not had any objections from my tax attorneys or tax lawyers.. All I have to
show is that the amount I claim as a value is indeed a reasonable retail
amount. Yes they can argue that I have also taken off the few dollars or so
for material but that is so insignificant that it is just too hard for them
to pin the price with or without that piece. I do agree that even with that
deduction it is still a large loss of income but I do it to support those
that I deem really worthy..
Just my take on it.
On Thu, 31 May 2007 16:14:47 -0400, John and Judy Hesselberth wrote
> On May 31, 2007, at 9:33 AM, Richard Aerni wrote:
>
>
> Yes this subject comes up pretty often and seems to be misunderstood
> by many people. I guess I am one of the few people in the world who
> thinks the current rule is perfectly consistent with the way other
> donations of time and talent are handled and is, well, quite fair. I
Kathi LeSueur on thu 31 may 07
Pamela Regentin wrote:
>I have given work to charities and when I ask they give me a receipt for the value of the donated work. Since my taxes are itemized this is something I want for deductions. Often the receipt is in the form of a thank you letter from the organization.
>
>Pam>>>
>
Except that you can't deduct the value of the donated work, only the
material costs. And, you've already deducted them as "cost of goods
sold". If you get audited (I have been) you'll pay tax on all of those
deductions you took plus penalties and interest. It's a lousy system.
Because of this I only donate to organizations that I have a personal
interest in. If you want a deduction give them cash instead.
Kathi
>
>
>
>
John and Judy Hesselberth on thu 31 may 07
On May 31, 2007, at 9:33 AM, Richard Aerni wrote:
> Oh boy, here we go again!
>
> I'm sure that many many folks will point out that artists are
> unable to
> donate anything but the costs of materials used in creating a work
> of art.
> If you are filing taxes as a business, you have already deducted
> them on
> your schedule C, so really, you are allowed to donate zip, zero, nada.
Yes this subject comes up pretty often and seems to be misunderstood
by many people. I guess I am one of the few people in the world who
thinks the current rule is perfectly consistent with the way other
donations of time and talent are handled and is, well, quite fair. I
support leaving the law the way it is. What we are donating other
than cost of materials and fuel (which, as Richard pointed out, are
deductible unless you have already deducted them as a business
expense) are time and talent.
A lawyer doing pro bono work for a non profit cannot deduct the value
of her time and talent. A volunteer teaching CPR for the Red Cross
cannot deduct the value of his time and talent. I could go on, but I
think I have made my point. So why should an artist be able to deduct
the value of time and talent when others cannot??? Where is the logic
of that? There is none that I can find.
Now I do find the fact that so many nonprofits don't know the rules
themselves, or chose to mislead artists as a way of conning a
donation out of them, quite irritating.
Regards,
John
Craig Clark on thu 31 may 07
I have been on the organizational, aconstruction and donation end of
fund raising ventures for a plethora of non-profits since the mid
1980's. The thing that I have learned is what Marcia has
said.........there is indeed an attitude about "get your work shown" to
try and get folks who are hungry for a venue to donate work. There can
be an air of entitlement on the part of some of the organizers. They
certainly have not, at least in my experience, put anywhere near the
effort or resources into thanking the artists as they do themselves and
the patrons.
Unfortunately, this has often been the rule rather than the
exception. The few variances on this have been those similar to the
Empty Bowls phenomenon. I have had a lovely time each year with the
folks of ClayHouston the past few years that we have been doing it and
we have raised quite a bit of money for the Houston Food Bank. This is
something about which I care a great deal. I donate time, clay, firing
and bring my dog-and-poney show out to entertain the crowd.
What I have learned is that I donate to groups that I care about. I
do not do it for exposure, or to make any kind of money or to get
publicity. I do this in the spirit of supporting what I consider to be a
good cause.
Hope this helps
Craig Dunn Clark
619 East 11 1/2 St
Houston, Texas 77008
(713)861-2083
mudman@hal-pc.org
http://mudman00.blogspot.com/
Marcia Selsor wrote:
> If the promoters of this non-profit event actually promote the
> quality of the donators, then it may be a gratifying experience.
> When the pieces are treated as anonymous pieces, it can be demeaning
> if not down right insulting not to get any acknowledgement whatsoever.
> I think promoters have a responsibiltiy when asking for
> donations..."get your work shown" attitude. There needs to be some
> respect givin to to donators.
>
> Marcia Selsor
> http://marciaselsor.com
>
> ______________________________________________________________________________
>
> Send postings to clayart@lsv.ceramics.org
>
> You may look at the archives for the list or change your subscription
> settings from http://www.ceramics.org/clayart/
>
> Moderator of the list is Mel Jacobson who may be reached at
> melpots@pclink.com.
>
Mayssan Shora Farra on thu 31 may 07
Hello Richard:
I think it is all part of not allowing one to deduct non monetary
donations.
If you volunteer you cannot deduct what your time is worth. only if you
donate hard materials, bought cookies, bought art, cash are you allowed to
deduct it. And since, like you said, you already deducted your bought
material ( supplies ) you cannot deduct your time or deduct that which was
already deducted as a business expence.
now I am going to deduct me out of here>
Mayssan
in summertime Charleston WV, I do miss the hmming of the bees though
Kathi LeSueur on mon 4 jun 07
jim wrote:
>Well I for one do donate occasionally to a couple local charities and I do
>deduct the top value of the item I am donating. I am not donating my time.
>I am donating an item and I am allowed to deduct the fair value of that
>item.>>>>
>
No, you are not allowed and at some point, if you get audited, it will
cost you big-time.
Been there,
Kathi
>
>
>>
>>
Terrance Lazaroff on mon 4 jun 07
On Thu, 31 May 2007 23:42:07 -0500, Terrance Lazaroff
wrote:
>To all;
>
>When our art centre asks faculty for donation works they pay the artist 30%=
>of the sale. Makes it easier on all.
>
>As for empty bowls, don't ask for a receipt and give the volunteers a
break.
>
>Terrance
>
Another reason for not asking for receipts.
In Canada an artist can elect not to show his inventory for tax purposes.
However, if they donate a piece to charity, the piece is deemed to have
been sold at fair market value. The value must thus be shown in the revenue
side of the ledger. Which means, yes, it is taxable. The government then
allows a small percentage of this amount for a charity deductions. The
allowable tax deduction does not, however, come close to the value of the
work and in fact is far less that the taxable amount. So the artist looses
no matter what. That is why I don=92t ask for receipts and if I get a
receipt I throw it away. For example a $1000.00 gift gives a tax credit of
only $84.00. The taxable portion of $1000.00 is approximately 25% or
$250.00 give or take, depending on the revenue of the artist. Do the math.
Terrance
visit terry's website; http:/clayart.ca/
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