Why do people buy huge canvases with a few dots on from an arts unheard of for millions? I know it’s commonly used to launder money. Can someone explain how the process works?
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Wait until you hear how rich people do taxes! “I’ll pay you $10k to do a painting”…”hey art valuation expert friend of mine, don’t you agree this painting is worth $10m?”…”excuse me art gallery i would like to make a generous charitable donation of this expensive artwork”…”hello IRS, i made $10m in charitable donations this year so I’ll write that off against my tax bill and oops now i owe you nothing”
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