Lakota Denton - Asheville Personal Injury Attorney

Posts Tagged ‘insurance company settlement’

8 Ways to Maximize Your Personal Injury Settlement

If you’ve been in a car accident, you’ll eventually start thinking about how to maximize your personal injury settlement in order to cover your bills. There are a few tried-and-true tactics that lawyers recommend when settling or litigating car accident claims. Here are 8 tips on getting the most money from your car accident claim.

1. Follow Up with Medical Treatment Immediately

In order to have a high-value car accident case, you must lay the foundation for your claim. Even though you might feel fine at the scene of the accident, it’s crucial to get care as soon as possible. If you do not seek treatment within 72 hours of your accident, the insurance adjuster will most likely deny your claim outright.

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Are Personal Injury Settlements Taxable Income

What Makes Personal Injury Settlements Taxable?


The vague feelings of dread that accompany tax season might be especially intense if you’re wondering if your personal injury settlement is taxable. Federal tax laws specifically address what circumstances make personal injury settlements taxable.

The good news is that you may not have to pay taxes on a personal injury settlement. However, the bad news is that there are a few circumstances where the IRS may be entitled to some of what you receive from the insurance company. The IRS website has more information on personal injury settlements and federal taxes.

 

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