Dale Albright Law

It is everyone’s favorite time of year, tax time.  My staff and I have been getting lots of calls lately about whether workers compensation benefits need to be included when filing your income taxes.  The short answer is no.  Temporary total, temporary partial, impairment benefits, and workers compensation settlements do not need to be included when listing income in your income tax return.  If you are receiving workers compensation checks and social security benefits, there are some income tax implications.  If this applies to you, you need to discuss this with your tax advisor.  

I’ve got a couple of other important points.  Make sure that you e-file your taxes. If you e-file your taxes, your tax return should be directly deposited into your checking account in about a week’s time.  My final point is to use your computer when completing your taxes.  There are various online tax services and software programs that you can use to complete your taxes.  These computer based tax programs can be much cheaper than consulting with a local tax office or a CPA.  

Not bad for my first blog.  I look forward to writing more in the very near future and sharing my knowledge and thoughts to make your day a little better.  

Dale