article thumbnail

Estate Tax Planning Strategies for Art Collections

Art Appraisal Resources

In this post, we will discuss the importance of accurately valuing your art collection, the estate tax implications of art collections, and strategies for mitigating estate tax liability. This can create liquidity challenges for heirs who wish to retain the art while also meeting tax obligations.

article thumbnail

How to Win Your Property Tax Appeal: Proven Solutions and Strategies

Prime Appraisals

Whether you believe your property has been over assessed or you want to explore avenues for lowering your tax liability, understanding the appeal process and building a strong case is essential. Understanding the Property Tax Appeal Process When it comes to property tax appeal solutions, understanding the process is crucial.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Importance of Appraising Your Parent’s Estate, Even If You Are the Sole Heir

Harrison Appraisals

Even if you are familiar with the items and believe you have a good understanding of their worth, a professional appraisal ensures an accurate and documented valuation. An appraisal provides a comprehensive inventory of the assets, documenting their value at the time of his or her passing.

article thumbnail

Office Hours Information from March 2025

International Society of Appraisers

The definition may vary slightly from federal government definitions used to determine tax liabilities. As such, you must talk to your client to obtain the relevant information on the property – do they have any photos, receipts, old appraisals, or other documentation? If anyone uses one, would you be willing to share?