Penrose Appraisals
JANUARY 2, 2025
Start Tax Season Right Appraisals are crucial for valuing charitable donations. Non-cash charitable donations can play a big role in reducing your taxes when you itemize. This can bring peace of mind that comes with knowing the fair market value of personal property, especially family heirlooms or collectibles.
International Society of Appraisers
MAY 13, 2025
5/22/2025 12:00:00 AM Fair market value (FMV) is foundational in Canadian personal property appraisals prepared for charitable donations, estate administration, and cultural property certification applications. This means a consistently achieved market price, not an unusually high one-off sale. See Part I here.
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Penrose Appraisals
SEPTEMBER 27, 2022
But if you are considering donations of tangible goods, especially high-value tangible goods, then read on. As you may have read elsewhere on the website, the IRS has many rules when it comes to the charitable donation tax credit. (As As always, I am not a tax advisor nor a tax expert.
Art Appraisal Resources
AUGUST 29, 2023
Fair Market Value Appraisal One of the most common types of appraisals, a fair market value appraisal determines the price a willing buyer and willing seller would agree upon in an open market, assuming neither is under duress to buy or sell. This value is used for tax deductions.
JSK Fine Art Appraisals
MARCH 12, 2023
When individuals choose to share their art collections through charitable donations, a profound impact is felt not only within the art community but also in the broader sphere of philanthropy. The Power of Art Philanthropy: Charitable donations of art serve as a dynamic force for positive change.
Art Advisor's Blog
DECEMBER 2, 2020
The appraisal can be done at any time after the donation is accepted up until the filing of your taxes for the year. If the appraiser is called first, the appraisal for charitable donation is only valid for six weeks prior to a donation being made. That’s still charitable giving, of course.
Art Appraisal Resources
JULY 13, 2023
An appraisal helps establish the artwork's current market value and ensures that you have the necessary documentation in case of loss, theft, or damage. On the other hand, buyers can benefit from an assessment to ensure they pay a fair price for the artwork's value.
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