Wage Wars: What Is Considered Lost Wages?
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Did you know that around 39.5 million people seek medical care after a personal injury in the United States? If you were recently injured and are now dealing with new terminology such as lost wages but are confused about what is considered lost wages, you are in the right place. We have put together this short guide to share the ins and outs of lost wages.
Keep reading to learn everything there is to know about a lost wage.
What Is Covered?
If you are not able to work because of a personal injury such as a car accident then you might be able to obtain compensation for those missed workdays. One of the things covered under lost wages is your hourly pay. In this case, you would add up the days missed due to your injury and multiply it by how much you would have earned each day based on your hourly wage.
For those that work overtime on a regular basis, you can also include overtime in your lost wage claim. Keep in mind that you will have to show that you usually work these overtime hours. The best way to prove this is through your previous pay stubs.
If you miss out on bonuses that your job offers because of your injury you can ask for compensation for this. With this, you also have to prove that you missed bonuses. You can either show past bonus documentation or you can have your employer make a report that details how employees earn bonuses and any additional compensation you might be missing out on.
How to Prove Lost Wages
The easiest way is proof from your employer via a letter where they state your title, when you were hired, how many hours you normally work every week, your pay rate, and a statement saying that you were employed at the time of the injury. You can also opt to use pay stubs, tax returns, or bank statements if you prefer.
For anyone that is self-employed, it might be trickier because you will have to show business records claiming what your income might have been. Sometimes you might need assistance from your accountant to explain these calculations.
We highly recommend having a professional in your corner to help you navigate this sometimes confusing situation. You can look here for more info on how someone with experience can help you with your case.
Feeling Like a Lost Wages Pro?
We hope that now that you are aware of what is considered lost wages, you can make informed decisions while you are dealing with your own injury. Having help from an injury attorney will also help you navigate taxes to make sure that you are navigating the tax world properly.
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