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Monica,
I received the insurance company's payment check today for my totaled Porsche. It was fully 50% higher than their original appraisal.
Obviously, this was a difficult collectable appraisal, and I am extremely pleased with your dilligent work in establishing a fair value. Please express my full endorsement of your firm's abilities as you see fit.
Regards,
Tom Bird
Holland, MI
Yes. On vehicles worth more than $5,000, the IRS requires a professional appraisal to receive your tax write-off. It is still recommended for vehicles under $5,000 to prevent any unnecessary scrutiny from IRS auditors.