Charity and Donation Car Appraisals
Vehicle donation is one of the most effective ways or reducing your tax liability while helping others obtain transportation.
The IRS states that for items valued at $5,000 or more, a valid appraisal must be attached to IRS Form 8283.
For your vehicle to qualify for a tax deduction, and as indicated in IRS publication P4303 you need a WRITTEN APPRAISAL – Your written appraisal must be from a qualified appraiser.
What We do:
We comply with IRS- Publication-P561 and therefore provide you with a comprehensive vehicle appraisal report that includes:
- Description of the property
- Physical Condition of the property
- Date of Contribution
- Terms of the appraisal Agreement
- Name and taxpayer identification number of our appraiser as well as a signed IRS Form 8283
- Qualifications of the appraiser
- A Statement that the appraisal was prepared for income tax purposes
- Date of Appraisal
- The appraised FMV (Fair Market Value) of the vehicle
- The Method of valuation used to determine FMV
- The Specific basis of the appraisal, including comparable vehicles.
To order an appraisal, please fill out the questionnaire below, the cost is $150 and is paid in advance.