thedownhillEXPRESS
Well-Known Member
Just out of curiosity, how is that taxed if at all?(ordinary income etc)
If you even know....
FedEx contractor advice?
- Thread starter mc2r
- Start date
Just out of curiosity, how is that taxed if at all?(ordinary income etc)
If you even know....
Good question and no, I don't know the answer.
STFXG
Well-Known Member
I meant that the actual contractual financials will be excluded. You can get the contract but they will leave blank things like stop settlement, mileage amounts, and all that stuff that goes in to how we are paid. It's similar to the one posted on mygroundbiz.
Operational needs
Virescit Vulnere Virtus
Daaayyyumm!!! Oh, what a fool am I. I have been bitten twice and never thought to sue. Stupid me!
it was nasty. 120 lb rott attack. Mangled wrist off work for nearly a year.
Ricochet1a
Well-Known Member
Depends on what is classified as compensatory damages (pain, suffering, loss of use of limb, etc.), and what is punitive damages.
Compensatory damages are tax free - they are 'making whole' the plaintiff in the suit. Since we don't do an 'eye for an eye', compensatory damages are not viewed as income, but just what they suggest they are, compensation for damage incurred, attempting to 'make whole' the plaintiff who suffered the loss. When one receives a payment from an insurance policy (auto, life, even health expenses), the funds are treated as compensatory. Having your health insurance cover a $100,000 medical bill - then to be hit with a tax assessment for that $100,000 - would be a bit much.
Income (net) is always viewed as being 'profit' for who ever receives it. Compensation for damages isn't viewed as 'profit', but rather making up for a sustained loss - thus why it isn't taxed.
Punitive damages are usually treated as taxable income. These damages aren't intended to make whole the plaintiff, but rather to punish the defendant to dissuade from further acts of negligence. The act by the defendant usually needs to have a higher degree of negligence, or willfulness on the part of the defendant, in order for a court to award punitive damages.
apply at your local terminal. Ask to see three years of tax returns, both personal and corporate. Ask to see vehicle maintenance files. That should be a good start.
Operational needs
Virescit Vulnere Virtus
That's too bad. Hope he/she is going to be ok. Sounds like what happened to a mail carrier friend of mine last year, except a pit got her. She still isn't back to work at 100%, not to mention the psychological effect it still had on her.
