The federal government and individual states provide injured employees with workers' compensation insurance benefits when they sustain job-related illnesses or injuries. Workers' compensation settlements and weekly payments are not subject to income taxes. Since workers' compensation benefits are not taxable...
It is hoped that making the perpetrator pay a sum stretching beyond compensatory damages will deter the defendant and others from committing similar misdeeds in the future. In the case of a personal injury claim, punitive damages may be added to compensatory damages, which cover the victim’smedi...
401(k) allows employees to set aside part of their salary into a retirement account instead of receiving it in their paycheck right away. This money is invested in the employer's 401(k) plan. The funds in the account are generally not taxed until they are taken out, usually after the e...
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