Types of Insurance
Insurance Terminology
Types of Taxes
Forms
Tax Terminology
100
This covers anything related to automobiles and other vehicles.
What is Auto Insurance.
100
What and how much is covered by insurance.
What is Coverage.
100
It is a tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts and other legal entities. It is applied on all forms of earnings that make up a taxpayer's taxable income, such as employment earnings or capital gains.
What is Federal Income Tax
100
Summarizes earnings, deductions, and taxes withheld.
What is W-2.
100
Government agency that collects taxes.
What is IRS.
200
This covers you when you go to the hospital and break a leg.
What is Medical insurance.
200
The agreement between the insurer and the insured on the specific topics of premium, coverage, deductible, etc.
What is Terms.
200
Tax levied on income at the state level.
What is State Income Tax.
200
Form you fill out when you start a job.
What is W-4.
200
You pay before deductions and withholding.
What is Gross Pay.
300
Insurance that pays out a sum of money either on the death of the insured person or after a set period.
What is Life Insurance
300
This is known as the premium.
What is the monthly cost of insurance regardless whether you use it or not.
300
A tax on sales or on the receipts from sales.
What is Sales Tax.
300
A form you fill out one time per job.
What is W-4
300
Money subtracted from your paycheck.
What is Deductibles.
400
This is known as co-pay.
What is a portion of the claim the insurance wants you to pay.
400
A levy on property that the owner is required to pay.
What is Property Tax.
400
A form you fill out annually.
What is W-2.
400
The part of your paycheck that is left after deductions and withholding.
What is Net pay. What is Take home income.
500
A program managed by the Social Security Administration that insures a worker in case of a mishap. It offers income protection to individuals who become disabled for a long period of time, and as a result can no longer work during that time period.
What is Disability Insurance.
500
The amount of money the insurance wants you to pay before they start paying.
What is a Deductible.
500
Tax levied on both employers and employees used to fund the Social Security program.
What is Social Security Tax.
500
This is known as the 1040EZ.
What is a form filed once a year with the IRS.
500
It is what IRS abbreviation stand for.
What is Internal Revenue Service.
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