Arts Partners

Art involves a wide range of products and activities that require abstract thinking, imagination, practice, and technical skill. There are different types and forms of art, including crafts, design, photography, drawings and prints, and performance art. Other forms of art also include installation, sculpture, mixed media, ceramics, assemblage and animation art, and others.

Art and Its Functions and Forms

Art has many functions, one being to communicate feelings, emotions, and messages. It is also a form of entertainment, be it movies, theatre performances, or anything else. Art has an important function in bringing people together and advancing universal values such as cultural diversity, tolerance, freedom, peace, human dignity, equal rights, and social progress. Some types of art are considered more extreme than others, one example being art brut. This is a form of art, including sculptures, drawings, and paintings by children, patients in mental hospitals, and persons on the margin of society. Outside art is also created by persons on the fringes of society, be it the uneducated, mentally ill, and anyone outside mainstream culture. There are other contemporary forms of art such as internet, cybernetic, or digital art which is based on computer-generated images and forms. While some artists focus on contemporary technologies and forms, others produce religious texts and images such as illuminated manuscripts. These are Jewish, Islamic, Christian, and other texts decorated with geometric designs, images, and figurative illustrations.

Materials and Techniques

Artists use different materials and fabrics such as canvas, photos, cardboard, plastic, metal, newspaper cuttings, and others. Drawings are created using pencils, pen and ink, pastels, conte crayons, charcoal, and chalk. Other materials and techniques used for painting include water colors, oil, panel painting, ink and wash, fresco painting, etc. Famous movements are Minimalism, Abstract Expressionism, Fauvism, Realism, Romanticism, Rococo, Baroque, and Mannerism.

How to Effectively Invest in Art

Investing in art offers many benefits such as financial returns, value, and personal satisfaction. Reports indicate that the annual return on investment is about 10 percent. Paintings, drawings, sculptures, and other valuables help enhance the investor's prestige and reputation. There are certain things to do to get started with art investments and become experienced and successful.

What to Do

The first question to ask is whether the particular painting, collection, or piece is a good investment. You may want to contact an expert in art appraisal and painting authentication for this. Obviously, this is also a good time to decide on the type of art and items you want to invest in. Paintings and drawings are usually in high demand. However, it should be noted that the art market has a cyclical nature, and it pays to invest out of style. Many artists, styles, and movements go in and out of favor during different periods. Those who are popular and talented make a comeback again and again. Investing in art that is outside the mainstream and outside the narrative is also an idea worth exploring. This is a comparative and potentially risky bargain, however, and you may want to discuss your options with an appraiser. Then there are different forms of art to invest in – fine and visual art, metalwork, mosaic, and jewelry art, icons, printmaking, tapestry, ivory carving, relief sculpture, etc. Printmaking, for example, was popularized by artists such as Robert Rauschenberg, Willem de Kooning, MC Escher, and James McNeill Whistler. It is a good idea to get familiar with the work of famous artists to find out what type of artwork has the potential to grow in value over time.

Your Portfolio

You may want to think of how art fits into your portfolio and with your other investments. Obviously, this is one way to diversify your investment portfolio and add value to it. Finance experts point out that art is one of the least regulated, illiquid, and most opaque solutions to invest in. There are times of market downturns, and investors are advised to buy liquid assets first and then look into the art market. Examples of liquid vehicles and assets include currency and cash, long-term investment vehicles, receivables, and cash equivalents. Long-term solutions to consider include bonds, ROTH IRAs, certificates of deposit, and physical assets such as equipment, machinery, plants, and machinery. Adding artwork to an investment portfolio that contains long-term assets is a good way to benefit from a booming market and diversify the gamut of vehicles with a potential of good returns. Being a tangible asset, art obviously meets the requirement for portfolio diversification and is a good choice for sophisticated and experienced investors. Some works of art by famous artists can bring huge returns. This is the case with Picasso's "Les Femmes d'Alger which was recently sold for $47 million. It pays to look for positioned goods of this type if you have enough cash on your hands.

 

 

What Are Children's Fitness and Arts Tax Credits

Fitness and arts tax credits are offered to parents so that they can claim fees paid for a program. There are additional credits in the form of disability tax credits.

Arts Tax

Arts tax credits allow parents to claim program fees across different activities, including developmental, recreational, cultural, and artistic. Parents can claim up to $250, and there are eligibility criteria to meet, including an age limit for your child or children (they have to be under 16 to qualify. The age limit is higher for disability tax credit – you qualify if your child is under 18 years old. Parents are also entitled to receive additional $500 toward fees paid the previous year. There are additional criteria to qualify, one being that the program helps develop intellectual or artistic skills. Only programs in which children are supervised meet the criteria. Programs that offer knowledge and real-life experience and focus on nature and wild-life are also included in the list of prescribed programs. The same goes for programs with a focus on tutoring to improve children's knowledge. The list of prescribed programs also includes ones that include diverse activities with a focus on cultural heritage, customs and traditions, languages and language diversity, and media. Other covered activities also includes music, performing and visual arts, and literary arts.

Fitness Tax Credits

By the same token, fitness tax credits allow parents to claim money paid toward programs up to a certain limit. The limit is up to $500 for fees paid during the previous year. Again, there are eligibility criteria as well as prescribed programs to qualify for a refund. In this case, prescribed programs cover activities that help develop physical skills such as balance, flexibility, and muscular strength and endurance. Only programs that are directed toward and suitable for children qualify. Another requirement is that the child is enrolled in an ongoing program meaning that the program lasts a minimum of 8 consecutive weeks. The minimum period for camps is 5 weeks. Examples of activities and sports that develop physical skills include the following: bowling, sailing, horse-back riding, golf, soccer, hockey, and others. Some programs and activities are excluded from the list of prescribed programs. These include school program activities, self-directed activities, and ones that involve the extensive use of a motorized vehicle.

Benefits for Parents

We all know how expensive parenting can be, whether paying for private school, activities, clothing, tutoring or anything else. Many parents are forced to resort to personal loans and credit cards to pay for activities, food, utility bills, travel, or anything else. Fitness and arts tax credits can help you cover a monthly payment on your loan or credit card - see Life on Credit. Or you can use the money toward additional activities that help develop your child's physical, creative, or intellectual skills and abilities. You can also use the money to pay fees for extra-curricular activities which are not eligible for fitness tax credits.