Lakota Denton - Asheville Personal Injury Attorney

Posts Tagged ‘punitive damages’

What are punitive damages and how do they affect my car accident case?

Can I receive punitive damages for my car accident case?

Punitive damages get a lot of media attention, especially when a jury awards a plaintiff a multimillion dollar verdict. The headlines that these verdicts create lead many auto accident victims to wonder if they could receive punitive damages for car accident cases.

Punitive Damages Definition

There are two types of damages that a plaintiff might receive from a jury: compensatory and punitive damages. Compensatory damages are based on the actual damage the injured person experienced, like medical bills, lost wages, pain and suffering. Punitive damages are awarded specifically to punish a defendant for egregious actions. Punitive damages go above and beyond the plaintiff’s actual damages.

Continue Reading No Comments

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.

 

Continue Reading No Comments

Need Legal Help? We are here to answer your questions.

We serve clients throughout North Carolina.

Our office is conveniently located in downtown Asheville NC. Please fill out our contact form, or call us today to find out how we can help.

Fields marked with an * are required

* Please do not submit personal or case details through this form.