This Portfolio is available with a subscription to Bloomberg Tax, a comprehensive research solution including over 500 Tax Management Portfolios, practice tools, primary sources and timely news.
Tax Management Portfolio, Planning for Authors, Musicians, Artists, and Collectors, No. 815-3rd, addresses the unique issues involved in planning for and administering estates that consist in part of assets that have been created by the decedent's personal creative efforts or the creative efforts of others. Particularly in the estates of creators, where these assets may comprise the bulk thereof, creative assets present special business management, income tax, transfer tax, and estate planning issues.
This Portfolio adopts an interdisciplinary approach to the issues affecting authors, musicians, artists, and collectors as they manage their portfolio of creative assets and plan to transfer these assets to their intended beneficiaries, both charitable and noncharitable, as well as the issues affecting their beneficiaries upon receipt of the creative work. On the assumption that the reader is familiar with basic estate planning concepts, this Portfolio focuses on the issues and rules that are particularly relevant to creators and collectors and directs the reader to other Portfolios that discuss more basic concepts in detail. Moreover, because of the breadth of the topics covered in this Portfolio, no individual topic is covered in an exhaustive manner; however, the Portfolio directs readers interested in a deeper understanding of any particular topic to additional resources.
This Portfolio first gives a broad overview of the Copyright Act of 1976, and then discusses the income taxation of creators during life and of their property in the hands of their beneficiaries after their deaths, and the gift and estate tax rules that are particularly relevant to estate planning for these clients. The valuation of works of art and intellectual property is discussed in detail. Additionally, the Portfolio discusses tax and certain key considerations relevant to collectors and investors in buying, selling, and managing their art and other collectibles. The Portfolio concludes with a discussion of estate administration and other practical issues that the fiduciary of a creator or collector may face.
This Portfolio may be cited as Minnigh and Stutzman, 815-3rd T.M., Planning for Authors, Musicians, Artists, and Collectors.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)