Robyn Roderick Fine Art Appraisal Services, LLC

When a client wants to make a non-cash charitable contribution that can be used as an income tax deduction, the IRS requires the deductible value to be determined by a qualified appraiser. With more than 25 years experience in conducting appraisals of fine art for donation to museums and other public institutions, and with continuing accreditation through the American Society of Appraisers, Robyn Roderick meets the IRS standard for a qualified appraiser. Robyn keeps current on IRS rules and requirements through continuing education seminars at which IRS representatives present current guidelines. She also adheres to the required Uniform Standards of the Professional Appraisal Practice. An appraiser can be held liable if she does not practice due diligence and adhere to IRS guidelines.

Fair market value is used for this type of appraisal. Fair market value is defined as "the price of exchange between a willing buyer and a willing seller, neither being compelled to buy or sell, and both having reasonable knowledge of relevant facts." It is up to the appraiser to identify the most relevant markets in order to determine appropriate fair market value. For the majority of personal property appraisals, the appraiser uses the sales comparison approach. By this means the appraiser concludes an opinion of the value for the property by comparing it with similar items that have been sold or are for sale in the relevant marketplaces. The appraiser will make adjustments to prices based on marketplace conditions and the properties' characteristics.

Robyn Roderick not only prepares IRS compliant appraisal documents, she also ensures that her clients know the necessary paperwork to accompany their tax returns, and includes signed copies when required. Tax payers must complete and attach to their tax returns IRS Form 8283 according to the nature and value of the donated property.