Posted by personalpropertyappraisals on Feb 16, 2015 in Antiques and Collectibles
, Appraising and Qualifications
| Comments Off on 7 Best Practices for Gifting Art to Museums
Investment News has a good article titled “The Art of Legacy Planning – 7 Best Practices for Gifting Art to Museums”. In the article they state that high net worth individuals spend an average of 17% of their wealth on art and antiques, a passion investment. Part of managing this investment is planning for the future of the collection. One option is to donate to a non-profit organization such as a museum. To maximize the...
Posted by personalpropertyappraisals on Apr 11, 2013 in Appraising and Qualifications
, Government and Law
| Comments Off on Nine Tips on Deducting Charitable Contributions from the IRS
The IRS has released a list of tips to assist with obtaining tax deductions on charitable contributions. For non-cash contributions with a fair market value of $5,000 or more, a qualified appraisal is required by a “Qualified Appraiser”. See tip #9.
IRS Tax Tip 2013-45, April 1, 2013
Giving to charity may make you feel good and help you lower your tax bill. The IRS offers these nine tips to help ensure your contributions...
Posted by personalpropertyappraisals on Apr 5, 2013 in Donation
| Comments Off on ESTATE / LIFE PLANNING APPRAISALS
There are many times in a person’s life when they need to make plans regarding their collections and other personal property:
1) Estate planning
3) Distribution to family members
5) Tax planning
An essential part of this process is to have your collection appraised so that you can find out current values and make informed decisions. The appropriate level of value is Fair Market Value.
Remember, it’s important to...
Posted by personalpropertyappraisals on Nov 1, 2012 in Appraising and Qualifications
, Government and Law
| Comments Off on Charitable Donation Appraisal - FAQs
I frequently receive calls regarding valuation for non-cash charitable donations, so I’d like to address questions from an appraiser’s point of view. I cannot give tax advice, so a consultation with the appropriate professional is recommended.
Prior to accepting the assignment, the appraiser will ask a number of questions:
What do you have to donate? How were the items acquired? Which charity are you donating to and is it a related...