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Proving lost wages when you are self employed

A portion of proceeds awarded in car accident cases are usually for lost wages and income. This is money that a victim did, or would in the future miss out on due to injuries sustained in the crash that left he or she unable to work. Whereas "lost wages" for a regular full-time employee of a business could include lost income, compensation, or benefits, they would also include profits, future contracts, potential business opportunities and lost good will for a person who is considered self-employed. Lost wages should never be confused with "lost earning capacity", as they are two different types of damages.

A self-employed individual would need to provide the court with a copy of a 1099 form or tax return from a previous year to substantiate income. In addition, they may also provide copies of current and upcoming contracts that have already been legally signed. This will show proof of expected future income.

Medical records may be provided as well. These can include statement or letters from a doctor stating an expected or recommended amount of time off work. A jury should be able to combine all of this information, both wage, business, and medical, to determine an amount of money that a victim will likely miss out on. It must also be evident that the injured person is missing time from work solely due to injuries sustained from the car accident.

In cases where a business is experiencing rapid growth with continuously growing profits, it may be in the owner's best interest to hire an expert such as a forensic economist to testify. A personal injury attorney can help gather all necessary evidence to substantiate self-employment income and help an injured victim gain all of the compensation rightfully due.

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