Is compensation taxable?
Compensation in a personal injury case can fall into one of several categories. Some of these categories of compensation are considered taxable, while others are not. Generally, most of the money that you are awarded (if you win your case) is not taxable; however, any money awarded for emotional damage not caused by the injury or accident, punitive damages, and money awarded for interest are almost always taxable.
If you have been harmed in an auto accident that was the result of another person’s negligence, an experienced Milwaukee auto accident attorney of Habush Habush & Rottier S.C. may be able to help you receive the financial compensation you need. Call our offices today at 800-242-2874 to discuss your case with us.