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Date: | Wed, 1 May 2002 19:03:15 EDT |
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Stan writes:
> Re:
> > Anyone have any ideas on how does one go about determining the 'Fair
> Market
> > Value' of a 967/SX system?
>
> eBay search.
Actually, that's the wrong thing to do from a business point of view. In the
situation of donating working equipment to a school, what you want to find is
documented support for the highest possible fair market value that you can at
the time of the donation. The entire point of the exercise to make your tax
deduction be as large as possible, but one that is fully documented and
defendable, should it ever come to that. In that regard, the third-party used
hardware dealers are your best bet. They're probably selling their equipment
at something slightly higher than what "fair market value" might be, but they
*are* selling equipment at those prices and thus their quotes will be
completely acceptable to the IRS.
Ebay represents a completely different world, one of deeply discounted
prices. While this might be the ideal place to *buy* equipment -- if you
don't mind taking risks -- it's also possibly the worst place to obtain
documentable quotes for tax purposes. You're simply cheating yourself if you
use eBay prices.
Wirt Atmar
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