Whats needed for a Retirement / Succession Equipment Appraisal?
Our Answer about Retirement or Succession Equipment Appraisals:
The primary thing we have found when dealing with this type of equipment appraisal is focusing on the larger equipment. Another key thing is working very closely with your Attorney and CPA to establish exactly which items you want to hold in the company for flexibility through the transition.
We have seen that an average equipment value of $1,500 and up needs to have its own line item on the appraisal. Smaller items such as hand tools, furniture, and electronics can usually be lumped into general categories to save both time and cost on the equipment appraisal.
We also find that having the CPA or Attorney hire us helps establish an arms-length transaction in case there is ever any future disputes about the equipment appraisal.
In Retirement / Succession an Equipment Appraisal is many times Required or Needed.
Here are some primary things you need to consider:
The IRS only accepts Certified Reports
Knowledge about the Situation to help you if needed
Our reports are Compliant and Very Detailed
Line Item Value Thresholds based on your needs
Master Appraisers with Business Appraisal & Brokerage Experience