According to the annual report from Giving USA Foundation and the Indiana University Lilly Family School, charitable giving in the U.S. rose to an all-time record in 2013 to more than $335 billion.
1. Beware of IRS regulations
How is fair market value determined relative to gifted real estate? Where do comps fit in? What about unusual market conditions? IRS Publication 561 answers these, and other key questions for appraisers and is a must-read prior to accepting any related assignment. [Read more…]