ABOUT Capital Gains
We find nothing more depressing than concluding a successful sale for a client only to have a client ask us to send half of the returns to Uncle Sam because of an unexpected capital gains liability. While no firm can make guarantees, especially when the government is involved, we can help in situations where a collector’s purchases were not sufficiently documented.
These “Estimated cost” appraisals can be supplied to Harmers International clients with a Capital Gains Tax liability. These appraisals are in the form of a letter advising the estimated cost based on such information as the client can supply.
Our vast knowledge of philatelic realizations can fairly accurately estimate the purchase price of items in various areas. The purchase price of a single item that may have been purchased at auction is simple, but how would one place a cost value of a single item that was purchased as part of a larger collection? How would one estimate the loss on items that were purchased as “authentic” but after twenty years are found to be forgeries? These are areas where our knowledge is invaluable.
Please contact us if we can be of service.