<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:st1="urn:schemas-microsoft-com:office:smarttags" xmlns="http://www.w3.org/TR/REC-html40"> <head> <meta http-equiv=Content-Type content="text/html; charset=us-ascii"> <meta name=Generator content="Microsoft Word 11 (filtered medium)"> <o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="PostalCode"/> <o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="State"/> <o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="City"/> <o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="place"/> <o:SmartTagType namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="PersonName"/>  <style>  </style>  </head> <body bgcolor=white lang=EN-US link=blue vlink=blue> <div class=Section1> This is just one more area where a small businessman has to suck it up and brave the feds. Is it scary? Sure it is. <o:p></o:p> <o:p> </o:p> To echo the others, give them an appraisal for fair market value for tax write off. Make a detailed report on the pianos condition (i.e., Finish- A+, Hammer condition, B-, etc). Stipulate the current new retail value of the piano, estimate fair market value at 70% (or pick your own number).  Then include the disclaimer that this is an estimate only, actual selling price will vary depending on the market conditions. <o:p></o:p> <o:p> </o:p> The IRS is interested in documentation and if you write such a report you’ll have demonstrated that you’ve done your homework. <o:p></o:p> <o:p> </o:p> I hope you’ve charged them at least $50. You’ve got a trip to the home, a trip or phone call to the dealer, lengthy consultations with expert piano techs across the world, time in writing the report and the stress of braving the feds. <o:p></o:p> <o:p> </o:p> <div> Dean<o:p></o:p> <u1:PersonName u2:st="on">Dean May</u1:PersonName>             cell 812.239.3359 <o:p></o:p> PianoRebuilders.com   812.235.5272 <o:p></o:p> <u1:place u2:st="on"><u1:City u2:st="on"><st1:place w:st="on"><st1:City w:st="on">Terre Haute</st1:City></u1:City> <u1:State u2:st="on"><st1:State w:st="on">IN</u1:State></st1:State>  <u1:PostalCode u2:st="on"><st1:PostalCode w:st="on">47802</u1:PostalCode></st1:PostalCode></st1:place></u1:place><o:p></o:p> </div> <div> <div class=MsoNormal align=center style='text-align:center'> <hr size=2 width="100%" align=center tabindex=-1> </div> From: pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] On Behalf Of Paul McCloud Sent: Sunday, April 29, 2007 1:04 PM To: <st1:PersonName w:st="on">Pianotech List</st1:PersonName> Subject: RE: signing 8283 IRS appraisal form<o:p></o:p> </div> <o:p> </o:p> <div> <div> Hi, Julia:<o:p></o:p> </div> <div>     I'm sure you'll get a lot of replies to this.  I work at a piano dealership.  My boss told me to be very careful when doing appraisals, and said I should get an appraiser's license.  If you say, "In MY OPINION, such and such, ...", then you're ok.  If you give a firm statement of value, you'd better be prepared in case you are challenged in court.  This situation you are in could get sticky.  If you are not regularly in the BUSINESS (emphasis here) of appraisals, I'd be reluctant to sign such a document.  At least, you should document everything (photos, statements of the dealer, Ancott prices, etc.).  This could be a real big flag for IRS, especially if it actually sold for only $5k.  Your quote, "I do appraisals on a regular basis" is very significant, and you could easily be in trouble if you answer yes, and it isn't (exactly) true.  <o:p></o:p> </div> <div>     <o:p></o:p> </div> <div>     Paul McCloud<o:p></o:p> </div> <div>     <st1:City w:st="on"><st1:place w:st="on">San Diego</st1:place></st1:City><o:p></o:p> </div> <div>  <o:p></o:p> </div> </div> <div>  <o:p></o:p> </div> <blockquote style='border:none;border-left:solid black 1.5pt;padding:0in 0in 0in 4.0pt; margin-left:3.75pt;margin-top:5.0pt;margin-bottom:5.0pt'> <div> ----- Original Message ----- <o:p></o:p> </div> <div style='font-color:black'> From: <a href="mailto:KeyKat88@aol.com" title="KeyKat88@aol.com"></a><o:p></o:p> </div> <div> To: <a href="mailto:pianotech@ptg.org" title="pianotech@ptg.org">pianotech@ptg.org</a><o:p></o:p> </div> <div> Sent: 04/29/2007 9:48:25 AM <o:p></o:p> </div> <div> Subject: signing 8283 IRS appraisal form<o:p></o:p> </div> <div> <o:p> </o:p> </div> <div> Greetings,<o:p></o:p> </div> <div>  <o:p></o:p> </div> <div>           I had a lady customer who wanted an appraisal on the replacement value of her Yamaha C7. It was 1972 manufacture. I completely looked over the piano, and it was as new! She had a humidifier running and told me she had done so since the piano was new. By the looks of the piano I could tell. I couldnt find a thing wrong with it. I wrote a letter stating that I did a full inspection and then I called a dealer and asked what the price of that piano. They told me 30,000.00 So I wrote that the replacement value of the piano was 30K.<o:p></o:p> </div> <div>  <o:p></o:p> </div> <div>        Turns out they sold the piano for 5,000 to a non-profit music group and wrote 25,000.00 off their tax. Now they want me to sign this IRS form. My confidence is shaken, because I am suppose to sign this thing, and it states that "I do appraisals on a regular basis"...however, I do tuning and repair on a regular basis. Am I over-worring here?  I mean, I think the purpose of the form is to confirm that I just dont work at Turkey Hill or K-mart or something and that I do know the value of such things, which I do know. Is there any responsibilty I have over looked. I am tuning, repairing, refurbishing and evaluating for 4 years now. This is a first. <o:p></o:p> </div> <div>  <o:p></o:p> </div> <div> Thanks in advance,<o:p></o:p> </div> <div> Julia<o:p></o:p> </div> <div> <st1:place w:st="on"><st1:City w:st="on">Reading</st1:City>, <st1:State w:st="on">PA</st1:State></st1:place><o:p></o:p> </div> <o:p></o:p> <div> <div class=MsoNormal align=center style='margin-top:7.5pt;text-align:center'> <hr size=2 width="100%" align=center> </div> See what's free at <a href="http://www.aol.com?ncid=AOLAOF00020000000503" target="_blank" title="http://www.aol.com?ncid=AOLAOF00020000000503">AOL.com</a>. <o:p></o:p> </div> </blockquote> </div> </body> </html>