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 Profiled in Accounting Today for Leadership in the Art Industry
LMC was recently featured in Accounting Today’s Practice Profile series, which highlighted our work with clients within the art industry—including…
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 moreArt & Finance: Tax Considerations for Art Collectors and Investors
The art market is subject to changes driven by global, political, economic, and technological factors. Navigating these trends requires a…
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