car accident injury compensation

Injury Compensation Not Taxable

@peellawfirm General Law

Few realize that compensation from an injury is not subject to income tax.  The Internal Revenue Service (IRS) expressly excludes damages received as a result of personal physical injuries or physical sickness from a taxpayer’s gross income. Therefore, it is …

Auto Policy Coverages

Auto Policy Coverages

@peellawfirm General Law

Please do not wait until you are laid up with injuries to take a hard look at your auto policy or to talk with your agent. Mr. Peel seeks justice for those injured in tractor trailer and car accidents, medical …

common legal mistakes

Top 5 Most Common Legal Mistakes

@peellawfirm General Law

The truth is joint property does not change at the death of one owner. But solely owned assets are only a child’s share to the spouse, but no less than 1/3. Having a will eliminates this and other issues. Then, …

believe

Hard To Believe

@peellawfirm General Law

When you have taken as many depositions as I have, you hear people swear to some pretty unbelievable things: I get it. People lie all the time. But, I still am amused that they lie under oath to the guy …

tax

Tax Free Money

@peellawfirm General Law, Recent News

Physical Injury Compensation is one of the only areas of finance that is not taxed.  Proceeds received from most personal injury claims are not taxable under any law—federal or state law. This is because this it is not “income.” Remember …