{"id":12235,"date":"2014-04-16T23:06:44","date_gmt":"2014-04-17T03:06:44","guid":{"rendered":"https:\/\/www.certitrek.com\/nebb\/gift-taxes-and-certified-appraisers\/"},"modified":"2022-12-01T05:54:19","modified_gmt":"2022-12-01T10:54:19","slug":"gift-taxes-and-certified-appraisers","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/gift-taxes-and-certified-appraisers\/","title":{"rendered":"Gift Taxes and Certified Appraisers"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><p><a href=\"https:\/\/nebbinstitute.files.wordpress.com\/2014\/04\/nebbi-gift.jpg\"><img decoding=\"async\" class=\"lazyload alignleft size-full wp-image-707\" title=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-orig-src=\"https:\/\/nebbinstitute.files.wordpress.com\/2014\/04\/nebbi-gift.jpg?w=600\" alt=\"NEBBI Gift\" data-attachment-id=\"707\" data-permalink=\"https:\/\/nebbinstitute.wordpress.com\/2014\/04\/16\/gift-taxes-and-certified-appraisers\/nebbi-gift\/\" data-orig-file=\"https:\/\/nebbinstitute.files.wordpress.com\/2014\/04\/nebbi-gift.jpg\" data-orig-size=\"230,219\" data-comments-opened=\"0\" data-image-meta=\"{\" data-image-title=\"NEBBI gift\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/nebbinstitute.files.wordpress.com\/2014\/04\/nebbi-gift.jpg?w=230\" data-large-file=\"https:\/\/nebbinstitute.files.wordpress.com\/2014\/04\/nebbi-gift.jpg?w=230\" \/><\/a>Around this time of year, we don\u2019t really think too much about giving gifts. Except perhaps an Easter basket. But as a business owner, here\u2019s something you might not be aware of \u2014 if you gave a piece of machinery or equipment to a person or company during the year and received nothing in return \u2014 or a payment of less than the property\u2019s value \u2014 as far as the IRS is concerned, you gave a gift. And that gift is subject to a gift tax.<\/p>\n<p>If you gave the gift, the taxes are usually paid by you and not the person or company who received it. Some types of gifts are not subject to the gift tax, such as gifts to a spouse, gifts to charity, and gifts to help with educational expenses. If you\u2019re not sure whether your gift requires paying a gift tax, be sure to check with your accountant. If it turns out you are responsible for a gift tax, the next step is to hire a certified appraiser.<\/p>\n<p>The appraiser will prepare an appraisal report in which he or she has determined the fair market value of your gift. Submit this appraisal report with your tax return, and be sure to include the date the gift was given and the name of the recipient.<\/p>\n<p>This year\u2019s tax season may be over, but it\u2019s never too late to start planning for next year. If you need a certified machinery and equipment appraiser, the NEBB Institute can help you <a href=\"http:\/\/nebbi.org\/maps\/index.php\">find one<\/a>.<\/p>\n<p><a href=\"http:\/\/www.nebbi.org\/\"><i>The NEBB Institute<\/i><\/a><i> endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery\/equipment appraisal and brokerage.<\/i><\/p>\n<p><i>By: <\/i><a href=\"https:\/\/www.certitrek.com\/nebb\/\"><i>NEBB Institute<\/i><\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Around this time of year, we don\u2019t really think too much about giving gifts. Except perhaps an Easter basket. But as a business owner, here\u2019s something you might not be aware of &#8212; if you gave a piece of machinery or equipment to a person or company during the year and received nothing in return [&#8230;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[272,493,124,441],"class_list":["post-12235","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-appraiser","tag-easter","tag-gift","tag-taxes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gift Taxes and Certified Appraisers - NEBB Institute<\/title>\n<meta name=\"description\" content=\"Gift Taxes and Certified Appraisers - If you gave the gift, the taxes are usually paid by you and not the person or company who received it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/gift-taxes-and-certified-appraisers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gift Taxes and Certified Appraisers - NEBB Institute\" \/>\n<meta property=\"og:description\" content=\"Gift Taxes and Certified Appraisers - If you gave the gift, the taxes are usually paid by you and not the person or company who received it.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/gift-taxes-and-certified-appraisers\/\" \/>\n<meta property=\"og:site_name\" content=\"NEBB\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2014-04-17T03:06:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T10:54:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nebbinstitute.files.wordpress.com\/2014\/04\/nebbi-gift.jpg?w=600\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/gift-taxes-and-certified-appraisers\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/gift-taxes-and-certified-appraisers\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Gift Taxes and Certified Appraisers\",\"datePublished\":\"2014-04-17T03:06:44+00:00\",\"dateModified\":\"2022-12-01T10:54:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/gift-taxes-and-certified-appraisers\/\"},\"wordCount\":561,\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#organization\"},\"keywords\":[\"appraiser\",\"easter\",\"gift\",\"Taxes\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/gift-taxes-and-certified-appraisers\/\",\"url\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/gift-taxes-and-certified-appraisers\/\",\"name\":\"Gift Taxes and Certified Appraisers - 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