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Not All Appraisal Reports Are Equal!
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BEWARE Of Unsubstantiated Values!
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Find Out What You Need To Know Before You Make A Costly Mistake
99.9% of appraisal reports fail to accurately value the tangible assets. Why? That's a great question, and we're glad that you asked. Inaccurate appraisals are not uncommon, and they can cause serious consequences to your business, as can reliance upon any one of the following methods to determine the value of capital equipment. How many of these methods do you currently use?
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Guess;
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Rely on book value; or
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Rely on the word of a non-certified person who may have a "hidden" agenda.
Are you surprised to learn that all three methods are inaccurate and filled with liability? If an Appraisal Report is based on guessing, relying on book value, or relying on a word of a non-certified person who may have a "hidden" agenda, the Report will not hold up scrutiny because it lacks substantiation. Not only can values not be substantiated, but the Report itself is not written to reflect the approaches to value, market conditions, photographs and required substantiation that a USPAP Report contains. USPAP (Uniform Standards of Professional Appraisal Practice) was promulgated by Congress and is accepted around the world as the authoritative source for machinery/equipment and business appraisals.
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The Tax Code Requires:
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The appraisal of capital equipment must be substantiated, USPAP compliant and hold up to IRS scrutiny. |
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The appraisal must be conducted by a "qualified appraiser" submitting a "qualified appraisal".
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Professional training, education, knowledge, expertise, and the professional credential of a Certified Machinery & Equipment Appraiser enable Machinery & Equipment Appraisals to deliver a comprehensive and detailed Certified Machinery & Equipment Appraisal Report consistent with the ethics and guidelines mandated by the Uniform Standards of Professional Appraisal Practice (USPAP).
USPAP, promulgated by Congress and the Appraisal Foundation, is the leading authoritative source for appraisals.
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