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.
Your policy would pay up to $30,000 in injury costs for each injured person, up to a maximum of $60,000 total for the entire crash. Your policy would also cover up to $25,000 total in property-damage costs for other parties. In many cases, the bare minimum insurance wonât be enough. If you total someoneâs luxury sports car, for example, their repair costs could easily exceed your $25,000 ceiling.