Is My Personal Injury Settlement Taxable?

admin2021-02-21T01:18:40-08:00February 10th, 2021|Categories: Personal Accident, Personal Injury|Tags: auto accident, injury accident, injury attorney, personal injury|

Even though accidents are inevitable, nobody wishes to be afflicted by one. However, if you happen to fall victim to an accident caused by another party, you may be entitled to compensation. The recompense you may receive includes income loss, medical expenses, physical injury, as well as compensation for the emotional pain and suffering you got from the accident. Contact an Orlando personal injury attorney to assist you in filing a claim with the guilty party's insurance company. Prior to settling a claim, seek guidance from your attorney on which proceeds are taxable as income. Am I Liable To Pay Taxes From My Personal Injury Settlement? Though personal injury settlements are free from state and federal taxes, there are some cases when this rule is void. Personal injury settlements encompass the compensation [...]

Top Mistakes To Avoid on Auto Accident Injury Claims

Auto accidents are somewhat unavoidable. If you’re constantly on the road, you may find yourself involved in one, whether due to your own actions, or another person’s negligence. Of course, your first concern should be your health, after which you should pursue compensation from the person(s) at fault for the accident. As you proceed with your personal injury suit, you need to avoid the following mistakes if you intend to achieve a favorable outcome: Failing to File a Police Report In Florida, the law requires everyone involved in an accident that leads to death or injuries to file a police report within the shortest time possible. A police report will essentially give important details of the crash, including the main culprits, and the injuries suffered. This can help you prove to a [...]