Rent art commercially and deduct it as operating costs for tax purposes

17.09.2021

Rent art & tax deductible

Many people have the desire to make their living space, practice or business premises more attractive with works of art. There are also good reasons for this. After all, a pleasantly designed room puts customers and visitors in a positive mood for the occupant of that room. Therefore, not everyone can or wants to invest a lot of money in the purchase of finished works of art. But you don’t have to: with us you can simply rent art or have it made according to your wishes.

Commissioned art

If you have a picture painted, you can use a photo as a template for this purpose, for example. For commissioned painting, it is only important that you own the rights to the image. Then we can paint it in any size & variation on the canvas. If you want, the image can also be drawn digitally first and then converted or printed on canvas. This will give you a preview of the image to be made. The price depends on the level of difficulty, the size and the desired material, such as acrylic or oil paint.

Rent art

Renting art not only has financial advantages. Not to be underestimated is also the variety: You do not have to commit to one work, but you can return a rented artwork to us at any time and choose a new one from our offer. So you always have different design options for your rooms. If you want to rent artwork, you can already test in advance how the selected picture will look in your rooms. To do this, simply send us a photo of the room in which the picture will later be hung. Again, it is important that you own the rights to the photo.

Rent art and save taxes?

Yes, that is possible! Under certain conditions, the costs for a work of art can be claimed as operating costs from the tax office. However, this becomes difficult with works by “recognized artists”. In this case, the tax authorities assume an increase in value and do not accept a tax deduction. The tax office sees things differently in the case of works by “non-recognized artists”. These are considered commercial art, which can go out of fashion and then lose value. The purchase price is also an indication of tax deductibility for the tax office. Thus, as a rule, all works up to a value of 5000 euros are considered to be commercial art. Likewise, this also includes all commissioned works of art created by (as yet) unknown artists. In this way, you can invest in art that is precisely tailored to your rooms. By the way: Objects of art are still subject to 7% sales tax. But this will change soon, because the legislator plans an increase to 19%. Therefore, people interested in art should invest as soon as possible if they still want to save taxes.

If you want to rent art, you can claim the costs for rent and transport a few years later. In this case, the state requires a rental period of 40 to 90 % of the usual amount, which corresponds to about four to nine years. After that, the work can be returned or purchased. However, the purchase price should not be agreed in advance, so that the tax office does not smell an installment sale.

If we have been able to arouse your interest in our offer, please feel free to contact us at any time. We look forward to hearing from you!

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on xing
XING
Share on whatsapp
WhatsApp

Create custom art for your home or office with our help.