Likelihoods To Consider When Determining Lost Income

The victim of an accident could lose money in any or all of 3 different ways. The treatment of any injuries would create unanticipated expenses. Damage to property could force added expenditures. Finally, time spent recovering from an injury could mean a loss of wages.

What money does an accident victim lose, due to his or her inability to earn an income?

• Wages, if the victim works for an employer
• The time away from the job, due to the need to go to scheduled treatments.
• The forced use of sick leave or vacation time, in order to obtain money during the days spent recovering from the injury.

What documents help to furnish an answer to this question: How much money would you have made during the time that you were unable to be at your workplace?

Employees of a business should be able to use pay stubs, as evidence of the wages earned in the past. The employer would need to offer a record of the amount of sick leave available to the employee before the time of the accident, and the amount of vacation time that had been earned.

Injury Lawyer in Richmond Hill know that someone that was self-employed and had become injured could present the tax forms from past years, which should show how profitable that operation had been. If the tax forms did not prove satisfactory, the same entrepreneur could present the accountant’s books. That, too, should show how much money the business had managed to take in, when the owner was able to contribute to the efforts made by any other employees.

It could be that the injured entrepreneur had run a small operation, and did not have any employees. That fact ought to become obvious from an examination of the accountant’s books. Indeed, that fact should work to emphasize the significance of the lost income.

How does a loss of work opportunities represent a loss of income?

• Was a given employee up for a promotion before he or she got injured? That would represent a lost work opportunity.
• Had someone looking for a new job been scheduled for an interview, one that he or she could not attend, due to the accident-related injury?

• Had someone that was supposed to present a paper at a conference become the victim of an accident just days before the scheduled time for that same conference? There are several ways that such an interruption could act to lower the number of job opportunities that would be extended to the injured victim.

For instance, the ability to network at a conference allows for the discovery of job possibilities. In addition, it might provide a graduate student with the chance to learn about an open fellowship or internship.

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