Shared Link | "Tax Court Ruling Is Seen as a Victory for Artists" via New York Times

"If you say you are an artist, but you make little money from selling your art, can your work be considered a profession in the eyes of the Internal Revenue Service? 

In a ruling handed down late last week by the United States Tax Court and seen by many as an important victory for artists, the answer is yes. The case involved the New York painter and printmaker Susan Crile, whose politically charged work is in the collections of the Metropolitan Museum of Art, the Guggenheim Museum and several other major institutions. In 2010, the I.R.S. accused Ms. Crile of underpaying her taxes, basing the case on the contention that her work as an artist over several decades was, for tax-deduction purposes, not a profession but something she did as part of her job as a professor of studio art at Hunter College." Read More >>

Comments

Currently Trending in the Network

The WWN Rockport e-Newsletter has Moved to Fridays! TGIF!
This is great for promoting a weekend sale or event! Questions? Email Alicia



Copyright © 2011-2017. All Rights Reserved. Wonderful Women's Network, LLC. Your Community Newsletter Magazine. Committed to news, events, businesses and stories of Rockport-Fulton and Texas Coastal Bend Region. Duplication of content on this site without permission is prohibited by law. Information on this site is time sensitive and for general/entertainment purposes only. Opinion pieces/submitted articles and comments are the thoughts of the author and do not necessarily represent those of the WWN. Paid advertising through the WWN is not available to other general information publications. Always consult a licensed physician before taking medical or health advice. The WWN does not endorse any political party or candidate.

Web services provided by The Branding Arsenal