Are Car Accident Settlements Taxable?

A question that I’ve been asked several times just recently is, will I have to pay taxes on my car accident settlement money? The general answer to that is, no. Personal injury cases have a specific exemption through Congress from having to pay income taxes on the recovery.

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Bicyclist Hit By A Car, What Do I Need To Know?

Being hit by a car while riding a bicycle is one of the scariest types of accidents. Most of the time a bicyclist does not see it coming, or only has mere seconds to react. As a result, most bicyclists who are hit by a car suffer catastrophic and permanent injuries, including traumatic brain injuries, spinal cord injuries, broken bones, and other significant harm.

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DRUNK AND IMPAIRED DRIVING – PROMOTING POSITIVE PEER PRESSURE AS A MEANS OF PREVENTION

Every year, over 10,000 people die in drunk driving accidents in the United States. That’s an average of about 1 person per hour. And hundreds of thousands of others are injured in alcohol-related car accidents. Annually, the monetary cost of DWI car crashes rings up to a staggering $37 billion. Similar, other controlled substances, such as illegal drugs, are a factor in almost 18% of car drivers deaths.

We have come a long way since the first drunk driving laws were established as early as 1907. But clearly, drunk and impaired driving is still a major issue affecting our country today and it requires discussion.

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THE AFTERMATH OF CAR ACCIDENTS – STEPS TO TAKE, MISTAKES TO AVOID

In a country with millions of miles of roads and approximately 253 million cars, car accidents are an unfortunate fact of life. In the US alone, over 37,000 people die in road crashes every year. And nearly 2 and a half million Americans are injured or disabled in car accidents annually. The effects of road crashes are often long-term and far-reaching.

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TRAUMATIC BRAIN INJURIES – THE IMPORTANCE OF TAKING ALL BLOWS TO THE HEAD SERIOUSLY

TBIs can result from sports injuries, vehicle accidents, explosions in active military zones, falls, and much more. Traumatic brain injuries can affect people in the same way that other types of injuries can: victims are often unable to work and face mounting medical bills. However, because the brain is such a complex organ that doctors still have a limited understanding of, traumatic brain injuries are a very complex topic.

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TRUCK ACCIDENTS – WHO CAN BE HELD ACCOUNTABLE?

Many people are probably familiar with the highly publicized big truck crash involving Tracy Morgan, an actor & comedian famous for his roles on SNL and 30 Rock. On June 7th, a Walmart truck crashed into a limo carrying Morgan and several friends. Morgan and several of the passengers were critically injured and one of the men in the car was killed. After the crash, concerns about semi-truck accidents have come to the forefront of public debate.

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WHAT TO DO RIGHT AFTER A CAR ACCIDENT

The most important thing to do after an automobile accident is check to make sure that you’re not injured and to help anybody who is injured. Many people ask if they should move the vehicle and we recommend that you not do that unless it is creating a major hazard.

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WRONGFUL DEATH – WHEN AND WHERE TO TURN FOR HELP

The unexpected death of a loved one can be one of the most life altering and painful experienced of a person’s life. According to the Holmes-Rahe Life Stress Inventory, death of a spouse and death of a close relative are two of the top 5 most stressful life events for the average person. And when the death was wrongful, when it was caused by someone else’s negligence it can be especially traumatic for those who are left behind.

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