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Usually art 'appreciates' in value doesn't it?
These off Ebay or something? You can get some gorgeous originals by complete unknowns (well, they claim to be renowned) on there for < $500, many a time I have gone drooling but not been able to justify the expense.These are actual oil paintings ... but purchased for less than $300 each. In any event, the collective won't exceed $1000 ... hence LVL.
many a time I have gone drooling but not been able to justify the expense.
in fact I can't think of a better asset to buy for a business with a high income. you certainly can't buy land and get a 50% write off!
Theoretically, a company could go out an blow $100K on a painting for the foyer. Get $50K back immediately. And then sell the painting next year. Not sure I'd be game to do it.
My house is currently full of ones I've done myselfI guess each to their own. I love art so wouldn't hesitate to spend $500 on a nice piece of artwork.
These off Ebay or something?
Not quite.
Wifey has recently forrayed into art; sold couple of her works & got commissioned for 1 more.
I figure i'd be scoring brownie points + ok from tax perspective as well
You wouldn't be "buying" paintings from your wife ?