Taxes Vocab
Sum of money demanded by the government to support the government itself
Taxes
Tax on earned and unearned income
Income Tax
Financial product purchased by people to protect against the risk of larger losses
Insurance
Insurance that helps when you get into a wreck
Auto insurance
Profession that specializes in filing taxes or doing audits
Accountant
Tax on items such as houses, cars, land, and buildings
Property Tax
Monthly payment to insurance company
Premium
Insurance that helps out when you go to the doctor
Health Insurance
April 15th
Tax on purchased goods and services
Sales tax
Contract between the insurance company and the insured
Policy
Insurance that pays people money if you die
Life insurance
Form received from your job stating how much tax was taken out
W2
Name one state that doesn't have sales tax
New Hampshire, Oregon, Montana, Alaska, and Deleware
Formal request to an insurance company asking for payment when an accident occurs
Claim
Insurance that helps pay for round the clock care for elderly in their home
Long-term care insurance
Form used to file taxes
1040
Taxes collected from the seller that remain hidden in the price of the goods or service
Excise tax
What you have to pay before the insurance company helps out
Deductible
Insurance that pays for the other person's damages if you get into a wreck
Liability insurance