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30 Cards in this Set
- Front
- Back
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determined by Insurance Company, value asset before accident occurred
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Actual Value
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When in car accident which insurance
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Collision Insurance
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What not to do when getting a car.
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Never use 3rd party financing for a car
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the cheapest life insurance you can buy
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Term
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Allows paying you back an amount that is more than what you paid
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Guaranteed replacement
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Health Saving Account
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attempt to have a high health insurance deductible
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Ways to reduce adjusted gross income.
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IRA deduction, Educator expense, Student Interest Loan deduction, tuition and fee deduction, health saving account deposit, moving expenses, self-employment tax and health insurance deduction, alimony paid
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Hardest tax form to do.
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1040
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Easiest tax form to do.
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1040EZ
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What is the middle difficulty tax form called.
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1040A
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What are the taxes withheld in paychecks?
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Federal Income Tax, State Income Tax,Local income tax, Social Security tax, Medicare tax
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Insurance required for all residents of
Indiana. |
liability insurance
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Where should you buy for insurance from?
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Independent Agent, Captive Agent, From the Company
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Health issues you had before getting health insurance.
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pre-existing condition
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HMOs(Health Maintenance Organization)
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least expensive, most restricted, given list to choose health provider; must get referral for a specialist
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POS(point-of-sale)
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Expand from HMOs; not as restricted
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PPOs(preferred provider Organization)
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stay within approved network; can see specialist without referral; some do not cover prevention care
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Which is better: Tax credit or tax deductible?
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Tax Credit
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Renters Insurance
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Insurance on your possessions in the rental
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How long to have a car lease?
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2-4 years
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Term Life
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life insurance policy that offers a death benefit for a define period (the term).
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Whole Life
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More expensive them term life; Your split your premium between cash value, commission and sale expense
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Universal Life
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More expensive then term life; death benefit; saving component
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Best way to buy a car
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used car; most cost efficient; car depreciates the minute it leave the car lot
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itemized deduction
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calculating individual allowable deductions that exceed the amount available under the standard deduction.
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Standard deduction
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an amount allotted by the IRS by taxpayers who do not itemized deductions.
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How long does it take to get an Associate Degree/
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2 years
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CPA(certified public accountants)
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highest level of profession for someone to do your tax forms
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Usual and Customary Charges
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list of fees that the insurance company says it will pay for healthcare services.
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GAP Insurance
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Buy car with little or no money down, there will be a period when your will owe more than its worth; Gap will pay the difference between the cars worth and what you still owe
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