Bernard Tully Personal Injury Lawyer. Phone: 412-281-8700
Do I Have to Pay Taxes on My Back Injury Settlement?
The topic of today’s blog involves the question, “If I get a settlement for my pain and suffering in my back injury case, is that $ taxable?” In other words, do you have to pay taxes on your settlement?
I have real good news for you. The $ that you get in your settlement is not taxable at all. If there is a punitive damage claim that is taxable. But, by and large, in 98-99% of the cases out there that involve personal injury the law is clear. Uncle Sam gets no part of your recovery.
I hope this helps a little bit. I also hope you understand the process more.
The question NOW is how do you get to the point where you get an offer and you get the good $ that will be yours tax-free?
That is what we are here for and what we try to do. We try to get you the most $ possible for your injuries period. Because if you do not get much in your settlement then the value is obviously decreased and your pain, suffering, and everything you went through is lessened.
We are here to get you the most $ we can. And remember, the $ you receive is non-taxable. Have I said that enough? LOL
Our main focus is honesty. We always preach it. We are passionate about trying to help you! Questions about the blog? CALL US NOW!
Bernard Tully Personal Injury Lawyer. 412-281-8700 and 1-800-518-0050