IRS-qualified fair market value appraisals supporting tax reporting and Form 8283 compliance. AppraiseItNow appraises personal property, fine art, vehicles, boats, equipment, business interests, and inventory to establish defensible FMV for IRS purposes.
Valuations by experienced appraisers across assets
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Joe Kattan
Anne Hay, ISA AM
Jason Dolph, CAGA
Ashley Innes, ISA AM
Justin Ramirez, ASA, ABV, CFA
Marnie Erkelens, CAGA
Raymond Ghelardi, ASA
Aron Blue
About AppraiseItNow's Fair Market Value Appraisal Services
A fair market value appraisal determines the price at which property would change hands between a hypothetical willing buyer and willing seller, both informed and acting without compulsion. FMV appraisals are required by the IRS for charitable property donations exceeding $5,000 (Form 8283), with full appraisal attachment required for business interests over $500,000. They also support estate tax filings, gift tax returns, ERISA plan compliance, and 409A valuations, following Treasury Regulation §20.2031-1(b), Revenue Ruling 59-60, and USPAP standards.
AppraiseItNow delivers qualified FMV appraisals online and onsite across the United States, covering personal property, equipment, vehicles, fine art, boats, business interests, and inventory. Our mission is to deliver defensible, USPAP-compliant valuations with exceptional speed, professionalism, and client service.
What Does AppraiseItNow Appraise for Fair Market Value?
AppraiseItNow covers every major asset class that commonly requires a fair market value determination, including:
- Personal Property – jewelry, antiques, furniture, coins, collectibles, and household goods
- Equipment & Machinery – medical equipment, restaurant equipment, manufacturing machinery, and technology assets
- Fine Art – paintings, prints, sculpture, photography, and mixed media
- Business Interests – LLCs, S-corps, partnerships, fractional interests, and privately held stock
- Boats & Watercraft – sailboats, powerboats, yachts, jet skis, and personal watercraft
- Automobiles & Vehicles – cars, trucks, motorcycles, RVs, trailers, and classic vehicles
- Inventory – retail inventory, wholesale stock, raw materials, and finished goods
Who Does AppraiseItNow Serve?
- Individuals and executors filing estate tax returns or administering trusts requiring IRS-compliant FMV documentation
- Donors and nonprofits needing qualified appraisals for noncash charitable contributions above IRS thresholds
- Business owners and plan administrators requiring FMV support for ESOP transactions, 409A compliance, or ERISA plan audits
- Attorneys and CPAs advising clients on gift tax filings, divorce settlements, or business interest transfers
- Lenders, investors, and financial advisors requiring credible FMV opinions for M&A transactions or investment decisions
5-Star Valuation Services, Loved by Hundreds
AppraiseItNow offers online appraisals and onsite appraisals in all 50 states including New York, California, Texas, and Florida.
What is a fair market value appraisal?
A fair market value (FMV) appraisal determines the price at which property would change hands between a hypothetical willing buyer and willing seller, both reasonably informed, neither under compulsion to act. This standard is defined under IRS Treasury Regulation §20.2031-1(b) and Revenue Ruling 59-60, and it applies to estate tax, gift tax, charitable contributions, ESOP transactions, and business valuations.
When is a fair market value appraisal required?
FMV appraisals are required for IRS tax filings involving charitable property donations over $5,000, business interest donations over $500,000, and plan assets subject to ERISA and IRC requirements. They are also needed to avoid prohibited transactions, excess deductions, and discrimination violations under various IRC sections.
What types of assets need a fair market value appraisal?
FMV appraisals apply to a wide range of personal property and business assets, including:
- Fine art, paintings, sculptures, and collectibles
- Machinery, tools, and equipment
- Automobiles, trucks, and heavy equipment
- Boats and vessels
- Business interests, including minority and controlling shares in private companies
- Inventory such as retail merchandise and raw materials
Who qualifies as an appraiser for fair market value purposes?
A qualified appraiser meets IRS §1.170A-17 standards, holds recognized credentials such as those issued by the International Society of Appraisers (ISA) for personal property, and operates independently under USPAP. Meeting these standards provides safe harbor for IRS acceptance of the appraisal.
Are AppraiseItNow's fair market value appraisals USPAP-compliant?
Yes. All FMV appraisals are prepared in compliance with the Uniform Standards of Professional Appraisal Practice, ensuring appraiser independence and adherence to IRS Revenue Ruling 59-60 and Treasury Regulations §20.2031-1(b) and §1.170A-1(c)(2).
What information do you need to get started?
To begin a fair market value appraisal, we typically need:
- A detailed description of the property
- The valuation date
- Details about the contribution or transfer
- Business history, earnings, and dividends if applicable
- Comparable sales data where available
- Appraiser qualifications and fee structure per §1.170A-17
How long does a fair market value appraisal take?
Most FMV appraisals are completed in 7 to 10 days. Rush service may be available upon request.
How much does a fair market value appraisal cost?
Fees vary depending on asset type, scope, and complexity. Visit our pricing page for a full breakdown of what to expect for your specific appraisal.
Can you appraise assets located anywhere in the US?
Yes. AppraiseItNow provides FMV appraisals for assets located throughout the United States, with both on-site and desktop appraisal options depending on the asset type and purpose.
Will my appraisal be accepted by the IRS?
Our FMV appraisals are prepared to meet qualified appraisal standards, including proper valuation date documentation, recognized methodology, appraiser credentials, and a non-contingent fee declaration. While no firm can guarantee acceptance in every case, following these standards significantly reduces the risk of IRS challenge, disallowed deductions, or penalties under IRC §6662.
Do you buy, sell, or broker assets?
No. AppraiseItNow provides independent appraisals only. We have no financial interest in the assets we appraise, which is essential to maintaining the objectivity required under USPAP and IRS qualified appraisal standards.
How is fair market value different from fair value under GAAP?
FMV uses a hypothetical willing buyer and seller without compulsion, and often applies discounts for lack of control or marketability for private interests. Fair value under ASC 820 is an exit price between market participants and can produce materially higher results without those discounts. Using GAAP fair value instead of IRS FMV on a tax return can lead to disallowed deductions or penalties on forms like Form 8283.
What discounts apply to private business interests under FMV?
Two common discounts apply to non-publicly traded interests. A discount for lack of control (DLOC) reduces value for minority stakes that lack voting power, typically 20 to 40%. A discount for lack of marketability (DLOM) accounts for illiquidity, typically 20 to 50%. Combined, these discounts can reduce value 30 to 60% compared to a controlling interest, consistent with Revenue Ruling 59-60.
What is the valuation date for a charitable contribution?
The valuation date is the contribution date, meaning the date the property actually transfers, not the date an agreement is signed. This is defined under IRS Publication 561 and §1.170A-17. Using a later transaction date risks IRS adjustment if market conditions changed, which can result in a disallowed deduction.
What happens if my appraisal is missing required elements?
A qualified appraisal under §1.170A-17 must include the property description, valuation and contribution dates, appraiser qualifications and fee, FMV, methodology, and supporting basis such as comparables or earnings. Omitting any of these elements voids the appraisal's qualified status and can trigger penalties of 20 to 40% under IRC §6662 for substantial or gross valuation misstatements.
Why are synergy-based valuations excluded from FMV?
FMV assumes hypothetical market participants without specific synergies, not actual strategic buyers, per Revenue Ruling 59-60 and §20.2031-1(b). Including strategic buyer premiums would overstate value relative to what a typical willing buyer would pay, which the IRS does not accept for tax reporting purposes.
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