The amount of income you make determines how much in taxes you pay to the United States government.
What is federal income tax?
100
Government agency that collects taxes.
What is IRS?
200
A type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses.
What is Medical insurance?
200
The amount insurance wants you to pay before they start paying.
What is deductible?
200
A portion of the claim the insurance wants you to pay.
What is co-pay?
200
Is usually collected in the form of a payroll tax or self employment.
What is Social Security tax?
200
A form you receive which summarizes your earnings and withdrawing for the year.
What is W-2?
300
An insurance that is used to pay out a sum of money either on the death of the insured person or after a set period.
What is life insurance?
300
The amount insurance wants you to pay before they start paying.
What is deductible?
300
When you turn 65 you get free health care.
What is Medicare tax?
300
Your pay before deductions and withholding.
What is Gross pay?
400
A form of property insurance designed to protect an individual's home against damages to the house itself, or to possessions in the home.
What is Homeowner's insurance
400
Monthly cost of insurance that you pay whether you use it or not.
What is premium?
400
When you ask insurance to pay because something happened.
What is Claim?
400
a tax on sales or on the receipts from sales.
What is sales tax?
400
A form you fill out one time when you start a job.
What is W-4?
500
A coverage that protects businesses from losses due to events that may occur during the normal course of business and a insurance that provides coverage for a policy holder's belongings and liability within a rental property.
What is Business and Renter's insurance?
500
When the ask insurance to pay because something happened.
What is claim?
500
Insurance pays 70%, you pay ____%
What is 30%
500
Capital gains (if you make a _____on an _____)
What is profit and investment?
500
Your employer withholds taxes and sends them to the IRS.