Do you have to pay taxs on money won from a lawsuit? If so, how much?

Answer 1

While tax laws are fairly complex, the basic principle is that income is taxable once. So, the question becomes, does the money (damages awarded) count as income when received?

If it's to repay medical expenses, or recovery for reliance expenditures, and its repaying money (income) that you've previously been taxed on, then generally you're not taxed twice. Same if it's going directly to pay medical expenses or whatever, since it'll be taxed as income by the person/company receiving it.

On the other hand, if it's lost wages (past or future), then obviously it's income and is taxable.

For other categories of damages, it depends on whether you're talking about state or federal, and how the court classifies the damage awards. This is a complicated area, so you should speak with an attorney whose familiar with tax law.

Answer 2

some might desire to basically handle one pentacle , others 2 and a few 5 . even nevertheless the myth of the skills discloses a slothful and depraved one-coiner , many that would desire to basically handle one coin might desire to get saved . Pentacles interior the Tarot correspond to dating . A one-coiner can basically ' get it ' on his or her habit being valid . A 2 coiner can carry on with the two funds on the marriage dating . Such 2 coiners are not saved at once they might desire to ' commerce ' relative to Atonement and dating effectively . Such then gain to their sins ' paid for ' . a guy or woman whose wisdom allowed it may relate to the theory-approximately Politics , institutions , or perhaps the family , of direction their fulfillment additionally isn't computerized they might desire to ' commerce ' with a view in the direction of Atonement and a bigger sphere of dating . a flesh presser to illustrate has the skill to narrate to the nationwide genealogy . for sure any flesh presser isn't at once noble so , distinctive them even nevertheless having 5 pentacles might desire to fail to have their sins paid for . The Pentacles are an eternal continuum element Jesus makes use of to pay for peoples sins with . The bankers are an Antichrist element Jesus has the properly suited to come back his Pentacle from , the interest is the single coiner saved . One coiners can discover eternal the Aristocracy yet to circumvent sloth and linked wickedness might desire to have faith in a very honest and sq. Godhead and act in accord with that perception .

Answer 3

We'll see after I sue yer a r se for asking this question :>

Answer 4

Usually yes. Check with your lawyer.