As of 2013, retirees who file individual tax returns must pay taxes if they receive more than $25,000 in total pensions and other income plus one-half of Social Security benefits each year.
He drives a 2008 Honda Accord LX Sedan in good condition with only the standard options and 100,000 miles on the odometer. According to the Kelly Blue Book, Markâs car is worth about $7,500. If Mark only has a few thousand dollars in savings, he should probably buy collision coverage. But if his fund has $30,000, he should answer the three questions listed above. The quote generator reveals that Mark will have to pay about $480-$600 per year for collision coverage.
Liability limits-The maximum amount your liability policy will pay. Your policy must pay at least $25,000 for each injured person, up to a total of $50,000 per accident, and $25,000 for property damage per accident.This basic coverage is called 25/50/25 coverage. Loss-The amount an insurance company pays on a claim.our policy must pay at least $25,000 for each injured person, up to a total of $50,000 per accident, and $25,000 for property damage per accident. This basic coverage is called 25/50/25 coverage.