Accidents happen—whether a piece of artwork or a collectible is damaged in shipping, affected by fire or water or even knocked over by Steve Wynn’s elbow. Having the right insurance in place can help mitigate financial losses...more
When it comes to estate taxes, the Internal Revenue Service (IRS) expects all tangible personal property to be properly reported on Schedule F of Form 706. This includes any valuable assets such as art collections, antiques,...more
1/15/2025
/ Art ,
Art Collections ,
Compliance ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
IRS ,
Reporting Requirements ,
Tax Fraud ,
Tax Liability ,
Tax Returns
Navigating the tax landscape for art dealers, investors, and collectors can be a complex endeavor, but proper classification is key to maximizing tax savings and avoiding pitfalls....more
1/7/2025
/ Art ,
Art Collections ,
Capital Gains Tax ,
Fine Art ,
Internal Revenue Code (IRC) ,
Investment Opportunities ,
Investors ,
IRS ,
Paintings Sculptures and Engravings ,
Tax Deductions ,
Tax Liability ,
Tax Planning