Taxes and Insurance

Taxes and Insurance are play a very important role in our everyday lives, and Taxes are required by law, the tax dollars we pay go back to us, they also go to firefighters and many things we use everyday like water, roads, airports, and schools. There are also two types of taxes which are sales and income. Sales tax is when you pay for something, the sales tax is then added to the total before you pay and is usually a percentage of the price pf what you purchase. Income tax is money withheld from the money you make as income. Most states charge income tax on all its residents but in or tax system we are taxed on the money we earn each year. Insurance helps you transfer your financial risk unto someone else, there are three types of insurance which are Health, Auto, and Home. Auto insurance is very important and is required by law because if you injure someone'es property or yours you can easily pay for it