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A tax imposed on the sale of fuel.
Fuel Tax
All of the property, assets, and debts left by a deceased person.
Estate
A type of investment that guarantees payments of specific amounts at specific times. Annuities come in two forms: fixed and variable.
defined benefit plan
A professionally managed investment vehicle that pools money from many investors and invests it in stocks, bonds, short-term money market instruments, and/or other securities
Mutual Fund
Income that is available after all necessities (food, shelter, etc.) have been paid for.
Discretionary Income
A tax imposed by the federal government on any money earned during a fiscal year.
Income Tax
The act of preparing for passing assets and decision-making responsibility on to heirs or other individuals in case of death or incapacitating injury or illness.
Estate Planning
A company retirement plan, such as a 401(k) plan or 403(b) plan, in which the employee elects to defer some amount of his or her salary into the plan, and he or she bears the investment risk.
Defined Contribution Plan
A steady income given to a person (usually after retirement).
Pension
Instructions covering specific medical directives as to the course of treatment to be taken by caregivers, or, in particular, in some cases forbidding treatment and sometimes also food and water, if the principal is unable to give informed consent due to incapacity.
Living Will
A tax imposed on the transfer of property from a deceased person.
Inheritance Tax
A name given to various taxes that arise on the death of an individual, also called inheritance tax or death duty.
Estate Tax
Tax on the profit made by selling an asset that has increased in value, such as stocks or property.
Annuity
An individual retirement account that provides tax-free growth, with contributions to the account made post-tax.
Roth IRA
An authorization to act on someone else's behalf in a legal or business matter. The person authorizing the other to act is the principal or granter (of the power), and the one authorized to act is the agent or attorney-in-fact.
Power of Attorney
A form of taxation where people who earn more are charged a higher percentage of their income than people with lower incomes.
progressive tax
To leave or give property by will.
bequeath
A type of employer-sponsored defined contribution retirement plan under section 401(k) of the Internal Revenue Code.
401(K)
A social insurance program funded through dedicated payroll taxes called the Federal Insurance Contributions Act (FICA).
Social Security
A document by which a person regulates the rights of others over his or her property or family after death.
Will
A tax paid by owners of properties, based on the estimate of the property's value.
Property Tax
Tax on the profit made by selling an asset that has increased in value, such as stocks or property.
Capital Gains Tax
A rise in the general level of prices over time.
Inflation
An item that is subtracted from gross income on a tax return.
Deduction
Written instructions that describe treatment preferences, including the designation of a substitute decision maker in the event that a patient becomes unable to make medical decisions on his or her own behalf. These generally fall into three categories: living will, power of attorney, and health care proxy.
advance medical directive