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Not limited to art. It's easy to get a trusted appraiser for the wealthy. It is very difficult for the IRS to challenge. Examples other than art: Company share
by cowkingdeluxe 8y ago
Not limited to art. It's easy to get a trusted appraiser for the wealthy. It is very difficult for the IRS to challenge.
Examples other than art: Company shares, real estate, time in certain contexts.
Edit: I'd like to point out GFischer's excellent summary on this https://news.ycombinator.com/item?id=18130720 https://news.ycombinator.com/item?id=18130720
- TAForObvReasons 8y agoComputing too. Epic Games decided to make certain assets for the Paragon game free for use (with a black-box valuation), and it wouldn't be surprising if companies like google put a valuation on open source software that they released and took a deduction. https://www.unrealengine.com/en-US/blog/epic-games-releases-12-million-worth-of-paragon-assets-for-free https://www.unrealengine.com/en-US/blog/epic-games-releases-...