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 $225 and is paid in advance.
