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No, income you DON'T make isn't dedcutible. (I didn't win the million $ lottery, I can't take a decution for it....UNLESS I include it in income first. It would have been taxable had you made it....it isn't tax deductible if you don't).
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Who is responsible for a workplace accident and lost wages in Florida if there is no worker compensatiion insurance?
The employer.
Can you deduct lost wages on your taxes due to an on the job accident and workers comp only paid you 60 percent of your normal pay?
No. You cannot deduct lost income when you never claim the actual income in the first place. You are only taxed on the amount of taxable income that you received. The reason that Worker's Compensation pays you at this level is that you are not paying income taxes, state taxes, social security taxes nor medicare taxes on this income.
Do you pay taxes on the settlement of loss of wages claim?
Yes this is very possible because the amount is replacing wages that you had not yet received and paid any income tax on yet. So the amount will be subject to income taxes in the year that you receive the amount of lost wages.
What are you entitled to sue for if you are not at fault in an accident?
If you are involved in an accident that is not your fault you can sue on several grounds. Damages to the vehicle if you owned it. Medical bills if injured, pain and suffering, lost wages, etc.
How does progressive calculate pain and suffering?
I was injured in a car accident...I was the passenger....I got 4 broken rib's.....2 week's lost wages.
Where does the apostrophe go in lost wages?
Lost wages doesn't need an apostrophe.
How many types of insurance are there?
PIP is personal injury protection. It will help you with medical bills and lost wages in the event of an accident, even if it's not automotive related.
How many types of car insurance are there?
PIP is personal injury protection. It will help you with medical bills and lost wages in the event of an accident, even if it's not automotive related.
Can you include lost wages in small claims court?
If the claim for which you are bringing suit warrants lost wages, you can include them in your suit.
If you have no insurance and someone hits you can you get lost wages?
If you are injured to the point that you cannot work, you may get awarded lost wages. However, you might spend the lost wages award to pay for the ticket you'll get for driving without insurance.
What is the minimum amount of for pain suffering and lost wages from a car accident if you are the passenger in the state of Texas?
It depends on how much someone is being sued for, if someone wants five dollars, then the minimum is five.
Are lost wages taxed in settlement in NJ?
If identified as wages, taxed both Federal & State. The wages would have been taxed if paid without settlement wouldn't they? (The "lost" part isn't taxed).
