Wealth Insights is our regular financial planning update, generally refreshed on Thursdays. Wealth Insights provides perspective on financial planning topics to help as you consider options for navigating your financial life.
If you donate your car to charity, you may claim a tax deduction for the donation if you itemize your deductions on your federal income tax return. To get started, you’ll need to pick a qualified charitable organization, determine the fair market value (FMV) of your car, and obtain the necessary documentation for your donation.
An important part of managing your personal finances is keeping your financial records organized. Whether it’s a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need to locate a financial record or document – and you’ll need to locate it relatively quickly.
The SECURE Act of 2019 dramatically changed the rules governing the inheritance of IRA and retirement plan assets.
