When I was running my IT business, there was no way I was able to deduct any of my time either. When we choose to own our own boat, we all float in the same sea. All expenses required to perform the work of art are eligible however.

I agree that fine arts are undervalued in the US. It makes no sense that we have practically no exposure in our schools and like you noted above, in universities the fine arts get little to no respect at all. Painters, sculpters, poets... I think an argument can be made that without these artists our technological wonderworld would not even exist.