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Why Attorneys Need a CMEA

June 24, 2010

Attorneys frequently work on cases that involve the value of a business’ physical assets, such as machinery and equipment, but oftentimes rely on the client’s estimates, follow a depreciation schedule, or guess at their value rather than rely on a certified machinery and equipment appraisal. Even value estimates put forth by an uncertified auctioneer or dealer will not hold up to scrutiny with the IRS, courts, or lenders. Being able to present values that are accurate, substantiated, irrefutable, and defensible will only strengthen your client’s case.

Here are just a few of the situations in which a certified appraisal can be of help to you and your client:

* Loans / Leases • Property Taxes • Insurable Value

* Divorce • Converting from C to S Corp • Cost Segregation

* Taxes • 1031 Exchanges • Trust Agreements

* Buy / Sell Agreements • Estate Planning • Bankruptcy

* Retirement Planning • Partnership Dissolution • Strategic Planning

* Litigation Support • GASB 34 • Sarbanes-Oxley

* Collateral • Gifting

You don’t want your client’s divorce or partnership dissolution to exclude the value of their machinery and equipment because the opposing counsel has a certified machinery and equipment appraisal to rely upon and you don’t. A certified machinery and equipment appraiser’s professional credentials will withstand a Daubert challenge.

An appraisal report from a certified machinery and equipment appraiser (CMEA) arms you with an irrefutable, defensible, and substantiated value of machinery and equipment that will prevail before the IRS, courts, lenders, attorneys, CPAs, and others. And when working with a CMEA, you know that you are receiving a report consistent with the Uniform Standards of Professional Appraisal Practice (USPAP). In fact, the IRS may disallow a filing because there is not a certified appraisal report that substantiates equipment values.

Contact a CMEA today to find out the difference between a “certified” appraisal report and an “uncertified” appraisal report.

By: NEBB Institute

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