Sunday, February 3, 2013

WHEN YOU DONATE A CAR OR PERSONAL PROPERTY TO A FLORIDA NON-PROFIT ORGANIZATION FOR A TAX-DEDUCTION , WE GET TO APPRAISE IT!

DONATING CARS & PERSONAL PROPERTY TO NON-PROFITS


SUNRISE, Florida - Giving to charity cleanses our souls and helps those less fortunate than us. Throughout the year, my firm, The St. Lucie Appraisal Company busily appraises the values of items donated to charitable organizations, churches and non-profits. It isn't only The Salvation Army, American Red Cross and Goodwill that contribute toward the betterment of mankind. Smaller non-profit organizations really make a difference and need our support too. From the race cars and other automobiles that are donated to The Darryl Gwynn Foundation - which provides wheelchairs to victims of spinal cord injuries - to the RVs and camping trailers donated to  local churches and other religious organizations, our unwanted items go to good causes. In order to claim a tax-deduction from the IRS, an appraisal and IRS Form 8283 from a licensed appraiser who HAS NOT been disqualified from the internal revenue service is a requirement. Last year our company was hired to appraise art from Peter Max to The Highwaymen, collectibles such as sports cards and comic books, cars of every description from exotics to rat rods, trucks both big and small, doll collections, fur coats, rare books, antiques, boats and luxurious RVs most of us wish we could own. It is important to learn whether your planned donation will be going to an eligible organization. Uncle Sam has that information  HERE . Each eligible organization has what is called a "deductibility status" which translates into what percentage of your donation is tax-deductible. Here are some examples:

Deductibility Status

PC - Public Charity - 50%
PF - Private Foundation -  30%
POF - Private Operating Foundation - 50%
SOUNK - A supporting organization, unspecified type - 50%
GROUP - Group Exemption -  Depends on various factors
EO - Other Than - Depends on various factors

From the point of view of the donor, obtaining the fair market value of the car or other item being donated is very important. It makes no financial sense to seek a tax credit for half the value of an item that was appraised for less than it's full worth. Part of an appraiser's job is to recognize the need for accuracy in his or her evaluations. A USPAP compliant appraisal and IRS Form 8283 from a licensed professional like The St Lucie Appraisal Company assures that the job will be done right.


The St. Lucie Appraisal Company
P.O. Box 2700
Fort Pierce, FL 34954
Phone: (772) 359-4300
Fax: (772) 466-8400
Email: contact@stlucieappraisal.net 

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http://stlucieappraisal.net/
AUTO & PERSONAL PROPERTY
SERVICE THROUGHOUT SOUTH FLORIDA

Our service area includes St. Lucie, Martin, Indian River, Brevard, Palm Beach, Broward and Dade Counties. Cities include Fort Pierce, Port St. Lucie, Stuart, Palm City, Jensen Beach, Hobe Sound, Jupiter, Palm Beach Gardens, West Palm Beach, Lake Worth, Boynton Beach, Delray Beach, Boca Raton, Deerfield Beach, Coral Springs, Coconut Creek, Pompano Beach, Tamarac, Sunrise, Lauderhill, Plantation, Fort Lauderdale, Davie, Pembroke Pines, Miramar, Hollywood, Hallandale, Miami, Opa Locka, Hialeah, Coral Gables, Kendall and Homestead.

Automobile Diminished Value Appraisals throughout Florida including, Miami, Fort Lauderdale, Tampa, Jacksonville, Daytona Beach, St. Augustine, Lakeland, Panama City, Orlando, Pensacola, Fort Myers, Key West, Sarasota, Port Charlotte, Clearwater, Kissimmee, Melbourne, Daytona Beach, Ocala, Gainesville, Lake City, Sebring, Bradenton, Titusville, Panama City, Bonita Springs, Naples, St. Petersburg and Tallahassee.

Our rates for services are as follows:

Auto Appraisals (Donations, Bankruptcy, Divorce, Insurance Disputes) $125.00

Stated Value Appraisals (Antique & Classic Cars, Street Rods, Motorcycles, RVs, Trucks) $175.00 and up

Auto/Truck/RV Condition Reports $225.00 and Up

Diminished Value Appraisals (Determines how much less your car is worth after accident repairs) $225.00

Personal Property Appraisals (Contents, Collectibles, Art, Antiques) $225.00 and Up

All other services and additional time when necessary  $75/Hr.

Expert Witness - Court Appearances, Depositions, Mediation $225/Hr.

You may obtain appraisals for Financing, Charitable Donation Tax Credits, Collateral, Damage Claims, Equitable Distribution, Bankruptcy, Estates, Insurance Stated Value, Purchase & Sale and Diminished Value.

Appraisals of Personal Property, Art, Boats, Classic & Custom Autos, Antiques, Collectibles & Memorabilia, Electronics, Machinery, Motorcycles & Choppers, Furnishings, RVs, Trucks & Heavy Equipment. Business Valuations specializing in all types of small businesses.

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Updated 01-21-2014