Document Sale Tax Liabilities 
International Society of Appraisers
MAY 13, 2025
Importantly, this definition emphasizes real transactions in the most active and appropriate market where the item is typically sold to the public, such as a gallery or auction sale, not asking prices. This means a consistently achieved market price, not an unusually high one-off sale. The Income Tax Act (Canada), s.
International Society of Appraisers
MARCH 14, 2025
The definition may vary slightly from federal government definitions used to determine tax liabilities. You need to analyze comparable sales data in the most common market where transactions to the public most frequently occur. the market in which sales to the public most frequently occur). sold prices).
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Art Appraisal Resources
AUGUST 29, 2023
In this post, we will discuss the importance of accurately valuing your art collection, the estate tax implications of art collections, and strategies for mitigating estate tax liability. This can create liquidity challenges for heirs who wish to retain the art while also meeting tax obligations.
Prime Appraisals
DECEMBER 5, 2023
Whether you believe your property has been over assessed or you want to explore avenues for lowering your tax liability, understanding the appeal process and building a strong case is essential. Assessors consider various factors such as property size, location, condition, and recent sales of comparable properties.
Harrison Appraisals
JUNE 19, 2023
Even if you are familiar with the items and believe you have a good understanding of their worth, a professional appraisal ensures an accurate and documented valuation. An appraisal provides a comprehensive inventory of the assets, documenting their value at the time of his or her passing.
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