The purpose of this website is to provide a basic education of the interaction between the Art World and the United States Tax Code. The Internal Revenue Code has a direct bearing on many arts related transactions. An understanding of the Tax Code allows the Artist, the Collector, and the Gallerista to function more efficiently and enrich society as a whole.
This Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the Web Site publisher. Any information provided should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
Furthermore to ensure compliance with IRS Circular 230, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.