A car accident can mean a total upheaval of your life. Not only is your car damaged and you have to figure out how to get it fixed, whether or not you’ll need a new one, and how much that will cost, but you are probably suffering injuries and pain that will last for quite…
If you’re in Pennsylvania and you’ve been the victim of a personal injury accident, the damages are done to you probably didn’t stop at just your medical bills or lost wages. There are a whole host of ways that being the victim of an accident can affect your life, which is why you have the…
How Are Personal Injury Settlements Taxable in PA and NJ? Tax season is here, and you might be wondering, Are personal injury settlements taxable in PA and NJ? The answer is both yes and no. Money that is received in a court settlement is usually considered income and is therefore taxable. However, personal injury settlements…
When someone is injured in an accident, a personal injury attorney can file a claim for damages on behalf of the victim or the victim’s family. In around 95% of cases, a personal injury lawsuit never goes to court but instead is settled for an agreed-upon amount even before a lawsuit is filed. This is…
If you receive compensation from a personal injury settlements or lawsuit, you probably have questions about the tax liability of the money you received. Whether you must state the settlement proceeds as taxable income will depend on the specific circumstances and facts of your case. Filing an Injury Claim?Get a Free Quote on Our Fees NameEmail…
The majority of the work is completed once you resolve a personal injury case. You should receive a fair settlement amount from an insurance company, but you must not forget about possible taxes related to your personal injury settlement.Filing an Injury Claim?Get a Free Quote on Our Fees NameEmail PhoneQuick Accident Description Contact Us It is…
If you sustained serious injuries in an accident due to someone else’s negligent or reckless actions, and try to deal with the personal injury claim on your own, expect to deal with the liable party’s insurance provider. Should I accept a personal injury settlement is a question to ask yourself after you know how insurance…
If you have back taxes, yes—the IRS MIGHT take a portion of your personal injury settlement. If the IRS already has a lien on your personal property, it could potentially take your settlement as payment for your unpaid taxes behind that federal tax lien if you deposit the compensation into your bank account. Likewise, even…
Figuring out how much money fairly represents your damages or losses following an accident could be immensely tough. There is no special formula you can use to calculate the right amount because every personal injury claim is different. This means that there’s really no answer to the question, What is the average payout for a…
If you are planning to file a personal injury claim after you’ve sustained serious injuries due to another party’s negligent actions, you’re probably thinking about how much your settlement is worth. Pursuing compensation for your injuries is mainly about justice, but it’s likewise about the money you can use for your losses. There’s generally no…