Who we serve in the art community
- Art Gallery Owners
- Artists
- Art Collectors & Investors
- Art Advisors
- Art Estates
With our deep understanding of the art industry, we offer expert guidance tailored to your unique needs
- Valuation Methods We assess the methods used to value artworks and ensure compliance with accounting standards
- Inventory Management We review inventory management processes for art galleries or museums to ensure accurate reporting of artworks
- Capital Gains & Sales Tax We assess the tax implications when selling artworks, including capital gains tax on profits, associated sales tax in local jurisdiction and use tax
- Charitable Tax Deductions We determine artwork eligibility for charitable tax deductions
- International Taxes We evaluate import and export tax implications may arise when importing or exporting artworks across international borders
Our Art Accounting Experts
Featured Articles
LMC Opens First Long Island Office, Welcomes Ricky Spike and Team
LMC is pleased to announce the opening of its first Long Island office and the addition of Ricky S. Spike,…
Read moreLMC Integrates Stephen A. Kepniss & Associates, P.C.
JULY 1, 2025 (New York City) — LMC, a leading New York City professional services firm and an Ascend platform…
Read moreLMC Spotlight: Steven Goldglit, CPA
Featuring Steven Goldglit, CPA LMC Art Practice Partner The Bottom Line was excited to interview Steven Goldglit, CPA, LMC’s…
Read moreLMC Announces Partnership with Goldglit & Company LLP
AUGUST 1, 2024 (New York City) — LMC, the New York City professional services partner of Ascend, today announced a…
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