It is everyone’s favorite time of year, it is tax season. If you are like me, you just love to get your W2 and grab your 1040 and get to work filling it out. I hope that my sarcasm has made you laugh. This time of year a number of my clients call me in regards to the ramifications that their workers compensation case has in regards to their taxes. Well I have good new to provide. Standard temporary indemnity checks (wage loss checks) are not counted towards yearly earnings. These payments are tax free. This also applies to workers compensation settlements. The lump sum payment is not counted towards your earnings for the year.
There is one caveat that you must know. If you have a complicated case with structured funds, a Medicare set-aside, or permanent total disability benefits, you need to seek the services of a tax professional or a computer based tax program to assist with determining whether or not there is any potential tax liability.
Dale Albright
Workers Compensation Attorney
It is extremely important to know that utilizing child car seats can save lives. According to the National Highway Traffic and Safety Association, more than 184,000 children were injured in 2009. Over 1,500 children ages 14 years and younger died as occupants in motor vehicle crashes this year. That’s an average of approximately 4 deaths and 504 injuries each day. Among children under age 5, an estimated 425 lives were saved by car and booster seat use. Restraint use among young children often depends upon the driver’s seat belt use. Almost 40% of children riding with unbelted drivers were themselves unrestrained. Child restraint systems are often used incorrectly as well. One study found that 72% of nearly 3,500 observed car and booster seats were misused in a way that could be expected to increase a child’s risk of injury during a crash. Child safety seats reduce the risk of death in passenger cars by 71% for infants, and by 54% for toddler’s ages 1 to 4 years. There is strong evidence that child safety seat laws, safety seat distribution and education programs, community-wide education and enforcement campaigns, and incentive-plus-education programs are effective in increasing child safety seat use. However, there are also incidents in which car seats themselves can cause serious injuries due to defective manufacturing and improper design. If you believe that your child has been injured due to a car accident please do not hesitate to contact us and have a free consultation.
Jonathan A. Torres, Esq.
Personal Injury Attorney for William McBride Law Group, P.A.
Chief Financial Officer Alex Sink, has announced that the Division of Workers’ Compensation website, will now have an indemnity calculator. This new tool from the Division of Workers’ Compensation, will be a great aid to injured workers.
Dale Albright II
When you purchase insurance you will be asked whether or not you want UM Coverage (UM stands for Uninsured or Underinsured). Although this type of coverage typically isn’t explained, it is very important that you purchase it, as it will provide extra coverage to protect you, your family, and occupants of your vehicles should an auto accident occur.
What is Uninsured Motorist Coverage?
- UM coverage is generally intended to provide the insured with the right to recover from his or her own insurance carrier for damages that he or she would otherwise be legally entitled to recover from an underinsured or uninsured tortfeasor. Ellsworth v. Ins. Co. of North Amer., 508 So.2d 395, 399 (Fla. 1st DCA 198)
- It is “to protect persons who are injured or damaged by other motorists who in turn are not insured and cannot make whole the injured party.” Brown v. Progressive Mutual Ins. Co., 249 So. 2d 429, 430 (Fla. 1971).
- It provides a limited form of insurance coverage up to the applicable policy limits for the uninsured motorist. Accord Allstate Insurance Company v. Boynton, 486 So. 2d 552, 557 (Fla. 1986).
- The UM statute defines what constitutes an uninsured motor vehicle.
- For the purpose of this coverage, the term “uninsured motor vehicle” shall, subject to the terms and conditions of such coverage, be deemed to include an insured motor vehicle when the liability insurer thereof:
- Is unable to make payment with respect to the legal liability of its insured within the limits specified therein because of insolvency;
- Has provided limits of bodily injury liability for its insured which are less than the total damages sustained by the person legally entitled to recover damages; or,
- Excludes liability coverage to a non-family member whose operation of an insured vehicle results in injuries to the named insured or to a relative of the named insured who is a member of the named insured’s household. Fla. Stat. §627.727
Another important characteristic of UM insurance pertains to “stacked” coverage.
- “Stacked” coverage is equal to the limit of purchased UM coverage times the number of insured vehicle
- “Non-stacked” UM coverage is equal to the amount of coverage purchased for the specific vehicle
So, if you have more than one vehicle be sure to purchase stacked coverage, as it will provide additional coverage for you, your family, and occupants of your vehicle should an accident occur with an “underinsured” or “uninsured vehicle” and someone suffers an auto-related injury.
Just remember that if you are involved in accident with another person who either doesn’t have any insurance, or not enough insurance to cover your damages, UM coverage would apply and give you extra money to compensate you for your damages. That is why it is very important to purchase it as you never know what may happen and if an accident occurs with an uninsured or underinsured motorist, you will be very happy that you did.
Zachary Leacox
