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Brushstrokes of Art PlanningBrushstrokes of Art Planning

A primer on tax strategies

K. Eli Akhavan, Managing Partner

July 31, 2012

14 Min Read
Brushstrokes of Art Planning

Collectibles, such as art, antiques and classic cars often have significant emotional and economic value. While most estate and tax planning techniques focus on financial and real property assets, creative tax planning also may be useful when dealing with works of art.

Planning for art takes on a substantial significance in the context of the Great Recession—while many taxpayers have suffered depreciated assets, many investors in the art market have seen their artwork go up in value. In fact, for 2011, the Mei Moses World All Art Index (which tracks art sales across several categories), returned 10.2 percent, while the S&P 500 Index returned 0 percent. 

Deferring Income Tax 

Art investors who own appreciated works may want either to cash ...

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About the Author

K. Eli Akhavan

Managing Partner, Akhavan Law Group LLP

 

K. Eli Akhavan is a managing partner of the Akhavan Law Group LLP. He was previously an associate in Moses & Singer's Trusts and Estates and Asset Protection practice groups. Eli counsels clients on sophisticated domestic and international estate planning, including advising high-net-worth individuals on their tax, wealth preservation and estate planning needs. He also provides guidance on business succession planning, asset protection trusts, and charitable planning. 

Before joining Moses & Singer, Eli was an associate at a prominent Long Island law firm where he represented clients on matters concerning asset protection planning, business succession planning, income taxation and charitable gifting. Prior to that, Eli was an associate at a major New York City law firm and counseled clients on complex partnerships, joint ventures and general taxation matters.