You want a professional who can sit across from an IRS agent and confidently support all the assumptions that went into their analysis. Each type of asset calls for a different area of knowledge, so hire only qualified appraisers with specific expertise in valuing the types of assets you own. For example, you wouldn’t ask a real estate or jewelry appraiser to evaluate your closely held business.
When it comes to business valuations, look for a professional who has experience performing appraisals for estate and gift tax purposes. Some credentials to watch for include Certified Valuation Analyst (CVA), Accredited in Business Valuation (ABV) and Accredited Senior Appraiser (ASA).