Your auto insurance is usually only valid for the vehicle named on the policy regardless of the type of auto insurance you have. Full coverage auto insurance may provide greater protection for your vehicle in an accident but it usually grants no protection if you drive a friend or relative's vehicle and get into an accident.

Educational tax deductions and credits provide incentive for taxpayers to enroll in school. Tax deductions directly reduce taxable income, whereas, tax credits reduce the amount of tax you owe on a dollar-for-dollar basis and can even result in a tax refund.

Social Security is a social insurance program designed to pay benefits to the elderly and disabled. Self-employed individuals are required to contribute as both an employer and employee. In certain situations, some people can be exempt from paying the tax.

Taxpayers must make estimated tax payments when their income is not subject to federal withholding. Independent contractors and self-employed taxpayers are expected to make four quarterly estimated tax payments during the tax year.