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Transcript:
00:03
Sometimes after a settlement, clients ask me, “Is the settlement amount taxable?” Now, by law, I’m not supposed to give advice on tax because I’m not an expert on tax law. However, personal injury cases and settlements by their very nature are non-taxable. So, the
00:22
money that you get is really the gross amount that you get is the same as the net amount you get. It’s not taxable. There are certain circumstances on certain types of cases involving things like loss of earnings um and employment cases that there may be tax consequences. I always recommend that
00:41
you talk to your CPA or tax advisor to make sure that I’m right and that uh you don’t owe any taxes as a result of your injury.
