The Importance of Earnings Documentation in Personal Injury Cases
Whether a person can no longer work due to injuries or the situation is that of a wrongful death case, one of the primary considerations in determining damages would be the potential future earnings lost. However, proving lost wages requires the right documentation. Here are some things you should know.
Documents that Prove Lost Earnings
The right documents can make determining an amount of lost wages a much easier process. For example, some paperwork that could prove a person’s earnings include:
- Income Taxes
- Pay Stubs
- Direct Deposit Transactions
- Business Receipts
These documents help to put an exact figure on what a person earned in the past and could expect to earn in the future.
Factors that May Affect Loss of Earnings Settlements
The biggest no-no, in this case, would be getting paid off the books. If someone took payments in cash and never reported them or paid taxes on them, a judge may eliminate the value of lost earnings as part of the case. Other issues may arise if a person was self-employed. He may have made $100,000 a year in revenue, but if $30,000 in business expenses meant he only paid taxes on $70,000 a year, that smaller figure would be used to determine earnings.
Setting the Right Figure in Loss of Wages Settlements
Whether you are facing a personal injury case of a wrongful death case that is costing your family future income, the compassionate lawyers at Petrov Law Firm can help you to provide the right documentation to establish wages and maximize the amount you are entitled to. Money can’t replace your loss, but it can help ensure that financial issues don’t compound your grief. Call 619-344-0360 to discuss your situation with one of our experienced attorneys.