If you\u2019re in a car accident, you may miss work because of your injuries. Lost wages can be difficult to recover from, particularly if you\u2019re out for an extended period.<\/p>\n
Lost wages, including current and future, are considered economic damages. If you file a lawsuit after an accident, the goal is to pursue damages<\/a>, including these economic damages.<\/p>\n The objective of a personal injury lawsuit is to get you to the financial position you would have been in if the accident didn\u2019t occur.<\/p>\n So specifically, what should you know about lost wages after a car accident?<\/p>\n Lost wages refer to money you would have earned working for your employer from the time of your accident to the date when you receive a settlement or judgment.<\/a><\/p>\n If you file a lawsuit to recoup lost wages, the injuries that are keeping you out of work had to have come from the accident you were in and not an event before.<\/p>\n You may be able to recover the wages you would have theoretically earned were you not out for medical treatment and recovery.<\/p>\n There are distinctions between the concepts of lost earning capacity and lost compensation to be aware of as well.<\/p>\n Lost earning capacity relates to a disability that diminishes your ability to work.<\/p>\n Lost compensation refers to lost wages, and other financial benefits you would have earned were it not for your accident.<\/p>\n When we talk about injuries lead to lost wages, we\u2019re most often talking about a physical injury, such as a broken leg.<\/p>\n You may also have psychological injuries<\/a>, however, like PTSD. If severe enough, this could mean you have grounds to recover lost wages.<\/p>\n Some employers offer benefits like paid time off and sick days. If you use your paid benefits to maintain an income while you\u2019re out of work, you may still have compensation available.<\/p>\n So what if you\u2019re in an accident and your injuries keep you from working<\/a> for a period of time, but you\u2019re your own boss? What happens then?<\/p>\n You may still be able to get compensation for lost wages and income.<\/p>\n With that being said, proving losses tends to be more challenging.<\/p>\n If you work as an independent contractor or own your own business, you likely have a fluctuating income.<\/p>\n You\u2019ll need to be able to show that you lost income and also the extent of what you\u2019ve missed due to your injury.<\/p>\n Some of the documents you\u2019ll likely need to show include your prior year state and federal income tax returns and your 1099s and tax forms.<\/p>\n You\u2019ll probably have to show proof of the projects or work you\u2019ve had to cancel because of your injuries and your bank account statements. If you file an insurance claim or personal injury lawsuit<\/a> for a financial award, you\u2019ll have to demonstrate your injury.<\/p>\n The insurance company and defendants will be working against you, and they\u2019ll want to reduce the compensation you receive as much as they can.<\/p>\n You\u2019ll need to have a medical professional involved, who will go over your records and learn a bit more about your job.<\/p>\n They\u2019ll be looking at how your injuries compare to the type of work you do and how they could directly impact your ability to work.<\/p>\n You\u2019ll need medical records to supplement what your doctor says, and the more you\u2019re able to show how severe your injury or injuries are, the more likely you are to recover money for lost wages.<\/p>\n You\u2019ll need to show things relating to your job too.<\/p>\n For example, you\u2019ll need a letter from your employer, time cards, or timesheets if applicable, pay stubs, and income tax returns.What Are Lost Wages?<\/h2>\n
What If You\u2019re Self-Employed?<\/h2>\n
\nAlso read:<\/span> Top 5 Automation Tools to Streamline Workflows for Busy IT Teams<\/a><\/span>\nDemonstrating Your Injury<\/h2>\n
\nAlso read:<\/span> What Is Blooket? How To Sign Up, Create Question Set, Join Blooket, & More + FAQs (Part I)<\/a><\/span>\nTemporary or Permanent Disability<\/h2>\n