When you sustain unanticipated injuries, you incur a lot more than medical expenses. That is why you should consider filing a personal injury claim against the party responsible for your accident. In addition to compensating you for direct costs, a successful claim can yield funds for indirect damages, such as missed paychecks. Although those who are self-employed do not earn regular paychecks, they can also lose out on income while recovering. Fortunately, you can still pursue compensation for lost income if you’re self-employed. Here is what you should know about recovering funds.
Gathering Legitimate Proof of Income
Various kinds of documentation can estimate how much income you’re losing as a result of any injuries. While you may not want to hand over entire tax returns, recent 1099s can serve as proof of income. Any contracts that have yet to be completed will also demonstrate lost income. If the injuries are so severe that you will be unable to return to work at all, you can pursue compensation for loss of future earning capacity, as well. Past tax returns, statements from industry experts, and statistics regarding the typical career trajectory in your field can help estimate a fair figure for such damages.
Negotiating for a Fair Payout
While lost income may make up a significant portion of the total damages, it’s important to include all the costs you incur in the settlement negotiations. Otherwise, the final payout may not be enough to cover all resulting losses, which could end up threatening your financial security.
In the state of Massachusetts, recoverable losses include property damage and expenses associated with child care, domestic help, alternative transportation, and home or vehicle modifications. Non-economic damages like pain and suffering, emotional distress, mental anguish, scarring, and disfigurement are also recoverable. That means in addition to providing documents tracking lost income, you must gather relevant records, receipts, invoices, photographs, and journal entries before commencing negotiations.
If you want to file a personal injury claim in Massachusetts, get in touch with Bellotti Law Group, PC. From their offices in Boston, Cambridge, and Quincy, they help those who have been wronged achieve justice. For more than 15 years, Attorney Peter Bellotti has been fighting tirelessly on behalf of accident victims. In addition to personal injury law, the firm also helps clients with criminal defense, family law, estate planning, and civil litigation. To browse their personal injury experience, visit their website and call (617) 225-2100 to schedule a free case evaluation.