Need some advice. I recently sold my car that I own outright. It had tons of equity. My question is, my state allows 3K on vehicle exemption, and I can apply the additional wildcard exemption to it which mounts to about $4500.00
I will pay 3k-4k for an older used vehicle. My problem is that I have about $11k left over after I pay legal fees, some debts, and catch up on utilites.
How can I protect this $11 k cash? Can I use part of it to fund a roth Ira and use the rest to pay my real estate taxes for the current year?
I can also use some of the money to buy 6months auto insurance, and pay personal property taxes for the year also. Is this a wise move?
I don't want to raise any flags with the trustee. Any advice???
I will pay 3k-4k for an older used vehicle. My problem is that I have about $11k left over after I pay legal fees, some debts, and catch up on utilites.
How can I protect this $11 k cash? Can I use part of it to fund a roth Ira and use the rest to pay my real estate taxes for the current year?
I can also use some of the money to buy 6months auto insurance, and pay personal property taxes for the year also. Is this a wise move?
I don't want to raise any flags with the trustee. Any advice???
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