Appraisal Standards

Every appraisal complies with the Appraisal Foundation’s Uniform Standards of Professional Appraisal Practice (USPAP) and, when applicable, IRS rules. The Appraisal Foundation is a federally funded organization authorized by Congress as the source of appraisal standards and appraiser qualifications. The Uniform Standards of Professional Appraisal Practice (USPAP) are procedures, guidelines and ethical standards for correctly prepared appraisals established by the Appraisal Standards Board of the Appraisal Foundation, first codified in 1987. They are a well-defined enforceable set of rules regulating the appraisal profession, and are regularly updated. These standards apply to all disciplines of appraising, such as personal property, real estate, and business valuation. They are based on the concept that there is a common methodology which can be found in all aspects of appraisal practice including appraisal, appraisal review and appraisal consultancy. Appraisers working for Thompson & Martinez maintain current certification with USPAP.

Estates

Estate Appraisal reports have been designed in accordance with the guidelines set forth by IRC section 20.2031-1(b) for reporting personal tangible property under Federal Estate Tax Return #706, Schedule F.

Charitable Contributions

Charitable Contribution appraisal reports have been designed in accordance with the guidelines set forth by the IRC Temporary Regulations Section 1.170A-1(c) (2) for reporting non-cash charitable contributions for values in excess of $5,000.