Paintings are works of art and have aesthetic value. On the other hand, some managers and business owners may have doubts about whether purchasing paintings can be recognized as an expense. In this article, we will explain whether the purchase of a painting can be deducted as an expense, and we will also explain in detail how to purchase and choose a painting.
Table of contents
・Conditions for treating paintings as expenses
・How to purchase paintings
・How to choose when purchasing a painting
·summary
Conditions for treating paintings as expenses
In order for a painting to be considered an expense, the following conditions must be met:
1.1 Relevance to business activities
In order to purchase a painting and claim it as an expense, the painting must be related to your business activities. For example, if a painting is used to decorate an office or store and is intended to enhance the atmosphere of the business, it may qualify as an expense.
1.2 Purpose is clear
If the purpose of purchasing a painting is not clear, it will not be recognized as an expense. You need to have a specific business goal or impact, and the purchase of the painting will directly contribute to achieving that goal. For example, if a painting can be expected to have a specific effect, such as contributing to improving the image of a product or service, it is more likely to be recognized as an expense.
1.3 Must be essential to achieving the objective
In order for a painting to be considered an expense, it must be an essential element to achieving the purpose. Only when the same objective cannot be achieved using other alternatives or methods. If this condition is met, the purchase of the painting is more likely to be recognized as an expense.
How to purchase paintings
When purchasing a painting, it is important to consider the following methods:
2.1 Auction participation
By participating in auctions, you have the chance to acquire rare and valuable paintings. You can use well-known auction houses and online auction platforms to bid within your budget. However, auctions can be highly competitive and prices can soar, so it is important to gather information in advance and manage your budget carefully.
2.2 Gallery visit
By visiting an art gallery, you can choose a painting from a wide range of works. At the gallery, you can also receive advice from experts and curators, and learn about the background of the work and the artist. Gallery purchases may also include a certificate of authenticity or certificate of authenticity for the painting.
2.3 Use of Online Platform
Artists and dealers from all over the world sell paintings on online platforms on the Internet. With a wide range of choices and price ranges, it's easy to find a painting that fits your budget and tastes. However, it is important to be careful when purchasing online and choose a reliable platform.
How to choose when purchasing a painting
When choosing a painting, it is important to keep the following points in mind:
3.1 Does it fit your business image?
Paintings are sometimes used to improve the image of offices and stores. Therefore, it is important to choose a painting that is in harmony with your business's image and brand. If the painting matches the atmosphere and concept of your business, it will be an effective decoration.
3.2 Artist background and evaluation
When purchasing a painting, you should also consider the artist's background and reputation. Works by established artists or up-and-coming artists can increase in value. It's important to research the artist's background and reputation of their work, as well as consider future investment value.
3.3 Painting condition and storage method
The condition of the painting and its storage method are also factors to consider when choosing. It is important to check the condition of the painting for scratches, dirt, and peeling of paint. Also, consider the location and conditions in which the painting will be stored. Paintings require appropriate temperature, humidity, and light control, so it is necessary to provide an appropriate storage environment.
summary
In order for a painting to be recognized as an expense, it must be relevant to the business activity, have a clear purpose, and be essential. When purchasing paintings, it is important to consider options such as auctions, visiting galleries, and using online platforms to choose paintings that match the image of your business. Furthermore, by paying attention to the artist's background, the condition of the work, and storage methods, you can maximize the value of the painting. However, we recommend that you seek professional advice as this will vary depending on your specific case.
“FROM ARTIST” recommended when purchasing paintings with expenses
FROM ARTIST is a platform where artists can sell their paintings. Many artists from all over Japan are participating.
You can also pay by invoice when purchasing works. If you are interested, please contact us before purchasing.