Archived posting to the Leica Users Group, 2015/01/08

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Subject: [Leica] OT: What would you do?
From: kcarney1 at cox.net (Ken Carney)
Date: Thu, 08 Jan 2015 18:47:47 -0600
References: <16127191.1420742962649.JavaMail.root@elwamui-mouette.atl.sa.earthlink.net> <CA+yJO1D+eq1cX5nrcCc=H7LhC4cBvAF1rCu7p+2jXcTbCQBASQ@mail.gmail.com> <D48D6C01-7848-4481-8AC2-2F5C87321CB5@icloud.com> <54AEE64E.60906@cox.net> <CA+yJO1Dp+85VSqTFRMZi9LzhHhoM7Yju7tR4u_VxEty7MVB8Bg@mail.gmail.com> <db1Q1p00o07g8Sg01b1RmN>

Here I can rent a small climate-controlled warehouse space for 
$100/month (probably $10,000/month in CA) and bury stuff until I really 
really have to deal with it.  Money well spent at times.  Do you have 
any galleries where you can consign the work?  Regarding the charitable 
part, tax-exempt hospitals (IRC ?501(c)(3)) would probably really like 
to have landscape work.  It would be for a good purpose, exposure for 
your work and a windfall for the hospital. Maybe a few pieces each year 
donated to avoid the devaluation issue?

Ken


On 1/8/2015 5:01 PM, Robert Adler wrote:
> Thanks Tina and all. Still struggling, but all the varied answers are
> helpful.
> I'm not really trying to make any money, but don't want to loose any either
> or devalue the work by either giving it away (when others have paid) or
> defacing it before taking to the dump.
>
> Most the frames are floating frames made for each image: different sizes,
> etc.  I'm still considering storage somewhere... somewhere...
> Thanks again. Other suggestions welcome of course.
> Best,
> Bob
>
> On Thu, Jan 8, 2015 at 2:26 PM, Tina Manley <tmanley at gmail.com> wrote:
>
>> Most of the work that I have donated to charities has been as photographic
>> work for them to use in fund-raising.  The way I get around the tax
>> donation is to charge them my normal rates for the work and then turn
>> around and donate that much back to them.  None of the charities I've
>> worked with has had a problem with this.  I don't know if you could work
>> something out like that for print donations, but it might be worth
>> investigating.
>>
>> Tina
>>
>> On Thu, Jan 8, 2015 at 3:19 PM, Ken Carney <kcarney1 at cox.net> wrote:
>>
>>> That's correct.  Under ?170(e), IRC, the fair market value must be
>> reduced
>>> by any ordinary income that would be recognized on a sale. In other
>> words,
>>> for all practical purposes donations of self-created art are limited to
>>> cost of producing it.  It gets worse.  If the item is not self-created,
>> and
>>> is not donated "for the use of" the charity, then the deduction is
>> reduced
>>> by any gain that would be recognized.  So if you donate the Picasso to a
>>> charity for the purpose of the charity selling it, your deduction is
>>> limited to your cost.  And if the appraisal rules kick in, they apply to
>>> the total of similar items donated, not each individual item.
>>>
>>> It gets worse.  Suppose you are a really gifted photographer and you
>>> create a photo worth, oh I don't know, say $6.5 million and hang on to
>> it.
>>> You have probably created a death tax liability of 40% of that.  Enough
>> for
>>> one day.
>>>
>>> Ken
>>>
>>>
>>> On 1/8/2015 1:18 PM, Wilbur Norman wrote:
>>>
>>>> In regards to Tina's comment:
>>>>
>>>> I believe the deductions she is referring to are for items NOT CREATED
>> BY
>>>> THE PERSON who is making the donation. So, if you donate a Picasso, you
>> get
>>>> a Fair Market Value. For items created by the artist donating, its
>> another
>>>> ball of wax.
>>>>
>>>> And, I believe the ceiling for NOT getting an appraisal is $5000 as
>>>> amended in the Pension Law some years ago (seems odd but thise folks in
>> DC
>>>> add non-related items to laws all the time.)
>>>>
>>>>
>>>> Wilbur
>>>>
>>>>
>>>>
>>>>
>>>> *************
>>>>
>>>> On Jan 8, 2015, at 12:02 PM, Susan Ryan wrote:
>>>>
>>>>   Can you take a tax deduction for a charitable donation? If so, how do
>>>>> you choose a dollar value of the photos donated?
>>>>>
>>>>> Thanks,
>>>>> Sue
>>>>>
>>>>> Sent from my iPhone
>>>>>
>>>>>   On Jan 8, 2015, at 11:50 AM, Tina Manley <tmanley at gmail.com> 
>>>>> wrote:
>>>>>> That's probably the best solution - donate to charity auctions.  I've
>>>>>> done
>>>>>> that quite a bit and it's always appreciated.
>>>>>>
>>>>>> Tina
>>>>>>
>>>>>> On Thu, Jan 8, 2015 at 1:49 PM, Doug Herr <
>> wildlightphoto at earthlink.net
>>>>>> wrote:
>>>>>>
>>>>>>   Donate to charity auctions?
>>>>>>> Doug Herr
>>>>>>> Orangevale, Sacramento County
>>>>>>> http://www.wildlightphoto.com
>>>>>>> http://doug-herr.fineartamerica.com
>>>>>>>
>>>>>>>
>>>>>>> -----Original Message-----
>>>>>>>
>>>>>>>> From: Robert Adler <rgacpa at gmail.com>
>>>>>>>> Sent: Jan 8, 2015 10:07 AM
>>>>>>>> To: Leica Users Group <lug at leica-users.org>
>>>>>>>> Subject: [Leica] OT: What would you do?
>>>>>>>>
>>>>>>>> I have a dilema. I'm moving back into my old home and clearing out
>> 25+
>>>>>>>> years of "stuff", Clean sweep.
>>>>>>>>
>>>>>>>> I know some of you have been through this recently
>>>>>>>> (George/Tina/etc.). I
>>>>>>>> have a ton of framed prints that haven't sold at galleries/coffee
>>>>>>>> shops,
>>>>>>>> but that doesn't mean they aren't lovely (IMO).
>>>>>>>>
>>>>>>>> They are custom framed and mounted. Archival. The works. I don't
>> want
>>>>>>>> to
>>>>>>>> give them away (I think that devalues all art), and I don't want to
>>>>>>>> pack
>>>>>>>> and ship them to folks.
>>>>>>>>
>>>>>>>> Please PLEASE suggestions? The dump just seems wrong..
>>>>>>>> Thanks!
>>>>>>>> --
>>>>>>>> Bob Adler
>>>>>>>> www.robertadlerphotography.com
>>>>>>>>
>>>>>>>> _______________________________________________
>>>>>>>> Leica Users Group.
>>>>>>>> See http://leica-users.org/mailman/listinfo/lug for more
>> information
>>>>>>> _______________________________________________
>>>>>>> Leica Users Group.
>>>>>>> See http://leica-users.org/mailman/listinfo/lug for more information
>>>>>>>
>>>>>>
>>>>>> --
>>>>>> Tina Manley
>>>>>> www.tinamanley.com
>>>>>> tina-manley.artistwebsites.com
>>>>>> http://www.alamy.com/stock-photography/3B49552F-90A0-
>>>>>> 4D0A-A11D-2175C937AA91/Tina+Manley.html
>>>>>>
>>>>>> _______________________________________________
>>>>>> Leica Users Group.
>>>>>> See http://leica-users.org/mailman/listinfo/lug for more information
>>>>>>
>>>>> _______________________________________________
>>>>> Leica Users Group.
>>>>> See http://leica-users.org/mailman/listinfo/lug for more information
>>>>>
>>>> _______________________________________________
>>>> Leica Users Group.
>>>> See http://leica-users.org/mailman/listinfo/lug for more information
>>>>
>>>
>>> _______________________________________________
>>> Leica Users Group.
>>> See http://leica-users.org/mailman/listinfo/lug for more information
>>>
>>
>>
>> --
>> Tina Manley
>> www.tinamanley.com
>> tina-manley.artistwebsites.com
>>
>> http://www.alamy.com/stock-photography/3B49552F-90A0-4D0A-A11D-2175C937AA91/Tina+Manley.html
>>
>> _______________________________________________
>> Leica Users Group.
>> See http://leica-users.org/mailman/listinfo/lug for more information
>>
>
>



Replies: Reply from coupdefoudrellc at gmail.com (Wilbur Norman) ([Leica] OT: What would you do?)
In reply to: Message from wildlightphoto at earthlink.net (Doug Herr) ([Leica] OT: What would you do?)
Message from tmanley at gmail.com (Tina Manley) ([Leica] OT: What would you do?)
Message from skalte at icloud.com (Susan Ryan) ([Leica] OT: What would you do?)
Message from kcarney1 at cox.net (Ken Carney) ([Leica] OT: What would you do?)
Message from tmanley at gmail.com (Tina Manley) ([Leica] OT: What would you do?)