A valuation report from a “qualified appraiser” is required by the Internal Revenue Service (IRS) in various situations, including in some donations of property, certain estate tax filings and gift tax returns as well as other transactions between related parties. Even where a qualified valuation is not required under applicable tax law, it is highly recommended to obtain one in order to limit unnecessary exposure to audits and deficiency proceedings.

To read more about  “The Importance of Qualified Appraisals in Tax, Legal, and Financial Matters” featured in the July 2023 edition of NAEPC Journal of Estate & Tax Planning, click below:

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