Senate Passes Artist Deduction

Just a few weeks ago I was writing about the sorry US tax laws that prevent artists from taking a full-value deduction for their artwork donations to nonprofits. Well folks, the Senate has done something right and passed a bill that allows artists to deduct the full fair-market value of certain art donations.

Granted, it still has to pass the House and it is limited to certain kinds of donations, but at least it’s on the right track.

Get involved! Contact the appropriate people to thank them and your representative to encourage their support in the House.

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