Posts Tagged ‘personal injury’
If you have filed a personal injury case your Indiana personal injury lawyer should be able to keep all of your papers regarding the case safely. If however you have any doubts you can certainly keep your copies of any paperwork in either a safety deposit box or home fireproof safe.
How Do You Keep Track Of Your Important Papers?
Data storage for your legal records kept on things such as CD’s are better kept in an environment where they’re safe from excessive heat. Even a fireproof safe will get hot on the inside which could cause damage to plastic CDs. As far as how long to keep any kind of information resulting in financial loss or gain, check with your tax consultant. Ordinarily, people are advised to keep these types of records available for approximately seven years. You can also save information in a flash drive rather than on a CD. Once again however, you need to keep that flash drive in a safe and indestructible environment.
A Good Lawyer And A Good CPA
Most states don’t worry too much about taxing their residents for financial gain as a result of personal injury. A good lawyer or an accomplished CPA can find a way around most any demand for tax payments on personal injury settlements, even if they apply to lost income.
Money that you may receive from something other than personal injury, such as a harassment suit or something of that nature, is a different story entirely.