Wherefore Art Now: The New Tax Law and Private Foundations
Author: Richard M. Horwood.; Christin A. Handa.
Source: Volume 17, Number 03, March/April 2018 , pp.1-3(3)
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Abstract:
Recent changes to federal tax law have made it necessary for individuals and institutions with significant art holdings to consider even more carefully their approaches to managing their collections. This article discusses some of those changes and their important implications for art collectors; it also explains the advantages that private operating foundations offer collectors seeking to mitigate the effects of the new tax law.Keywords: The Tax Cuts and Jobs Act of 2017; Like-Kind Exchanges; Capital Gains Tax; Charitable Contribution Deductions
Affiliations:
1: Horwood Marcus & Berk, Chartered; 2: Horwood Marcus & Berk, Chartered.