Insurance
Types of Taxes
Types of Insurance
Taxes
Paystub
100
The monthly cost of insurance
What is premium?
100
Based on how much you earn each year. It charges income tax
What is federal income tax?
100
Required by law in most states for those who drive
What is auto insurance?
100
_____ pays tax
What is everyone?
100
The amount of taken out of your paycheck to pay for taxes
What is taxes withheld?
200
The amount of insurance wants you to pay before they start to pay
What is deductible?
200
Based on how much money you earn annually. The percentage of your income that is taxes varies. Some of them don't charge THIS
What is state income tax?
200
Can protect you from paying for damage in the case of a burglary, fire, or other incident at your home
What is renters/homeowner insurance?
200
Sales tax usually goes to the ____
What is state?
200
The amounts (other than taxes) that have been taken out of your paycheck, such as health insurance or retirement
What is deductions?
300
When you ask insurance to pay because something happen
What is claim?
300
Charged on items you purchase
What is sales tax?
300
Helps cover the lost income when an illness of injury prevents you from working
What is disability insurance?
300
Also stands for ___, a government agency that COLLECTS taxes
What is Internal Revenue Service?
300
A tax that pays for health care for people ages 65 and over
What is medicare?
400
A portion of a claim the insurance wants you to pay
What is co-pay?
400
bases on the value of owned property
What is property tax?
400
Helps cover the cost of any medical expenses, including doctor visits, prescription, trips to the emergency room or stays in the hospital
What is health insurance?
400
A form you fill our ONE TIME when you start a job
What is W-4?
400
Payment that you pay BEFORE deductions and withholdings
What is gross pay?
500
The agreement between the insurer and the insured
What is term?
500
Charged at any profit you make from selling something at a higher price than you bough it
What is capital gains tax?
500
Ensures that another person (your beneficiary) will be financially protected of you pass away
What is life insurance?
500
Receive ANNUALLY from your employers
What is W-2?
500
A tax that pays for the retirement benefits for people who are currently retired and for the future retired population
What is social security?
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