The IRS Deductions Blog

Posts Tagged ‘free’

Question: why is the rental of fine art tax deductible?

Answer: Every expense that is justified for needs of the company is tax deductible (there are exceptions), the leasing of art (if justified by the needs of the company) is no exception to it.

Note that art owned by a company does not allow to depreciate it, however the capital loss (or gains) on the selling of corporate owned art is tax deductible. (depreciation of art is “impossible” since art has no preset lifespan).

Items on Amazon Right Now for Tax Deductible Art:

Community Calendar of SWLA

JANUARY 8 •Frederic Remington Makes Tracks Opening Reception On Friday, January 8, from 6 p.m. to 9 p.m., at the Historic 1911 City Hall Arts & Cultural Center, 1001 Ryan Street in Lake Charles, an Opening Reception will be held for ‘Frederic Remington Makes Tracks…Adventures and Artistic Impressions’ exhibition.

The 2009 Puppy & Kitten Art Show and Open House