Re: Taxes On A Personal Injury Settlement
You should not have to pay taxes on the personal injury settlement but if any of the money is for punitive damages (extra money paid to punish the person/company as the case may be for their harmful behavior) would be taxable. Also, when you put any of the money into one of your accts. (ie bank acct.), the interest earned on the money will be taxable as income.
Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.