Calculating Lost Wages into Your Damages After a Car Accident

Calculating Lost Wages into Your Damages After a Car Accident

Following a New Jersey car accident that has happened due to another party’s negligence, you may wonder how you can compensate for a variety of damages. Some of the damages that are most prevalent in these claims include aspects like medical bills, pain and suffering, and lost wages. The wages you lose due to an accident are extremely vital because, after an accident, bills may be piling up against you. How do you calculate these damages so that you receive exactly what you are entitled to?

The truth is, every job is different and everybody’s amount will look different when the court decides to award lost income damages. There are many types of damages that could be considered as you include lost income on your list.

Everything to Be Considered with Lost Wages 

Lost Wages: Lost wages are actually some of the simplest damages to prove. For instance, an aspect like pain and suffering might not be as easy to prove because it is subjective and everybody deals with pain differently. However, lost wages can be proven by showing a judge documents on how long you were off work, how your pay has changed since your accident, pay stubs you received in the past, and any lost perks or benefits now that you are off work. If you have sustained serious injuries due to an accident, you have likely had to miss work or might have even lost your job as a result.

If you are hoping to calculate lost wages, you will multiply your daily wage by the number of days that you have missed at your job. If your work has a varying number of hours in a week’s time, the court will apply an average to your case so that they can get an amount that is close to what you have lost or will lose in the future.

Loss of Benefits: You may also be entitled to a loss of other benefits in addition to lost wages. For instance, if you have been injured in an accident, it is likely that you have had to use some of your sick leave from work. You may be entitled to reimbursement for these losses. This is a type of damage that you can be reimbursed for because you may have to use sick leave at another time for a different reason, and it may no longer be available to you. The same can be said for if you need to use vacation days.

You may also be able to receive reimbursement for bonuses that you may have been eligible for but missed out on. For example, if you were in an open bonus period and this is when you were injured, you may have missed out on your opportunity for a bonus and might be reimbursed for these losses if you were going to receive the bonus otherwise.

Of course, there are many other benefits that can be accounted for as well such as membership costs, using a company car and many other compensation package benefits that might have been available to you if you didn’t have to take off time for work. These are aspects that you must consider when you are attempting to receive compensation for all of your losses. 

Lost Earning Capacity: The type of compensation that might be the most difficult to compensate for is lost earning capacity, because you will have to insert yourself into the future and what you could have received versus what you currently receive at work.

This is a special type of consideration because everyone’s situation is different. A person may not be able to return to the same job after an accident, which will make it possible to compensate for lost earning capacity. An accident can hold you back from future income opportunities, especially somebody who is expecting to receive a raise in the future. This is why you need to take special care when speaking with your attorney about these damages and making sure that you get the numbers right.

How You Can Prove Lost Income 

Calculating Lost Wages into Your Damages After a Car AccidentProving lost income will be one of the most difficult aspects of your claim as you attempt to receive documentation for all of these important pieces of evidence. The types of evidence that your attorney will typically request include past check stubs, tax returns, documentation of your deposit amounts, and employment letters. Usually, the defendant in the court action will attempt to downplay the accident and show that it wasn’t as serious as it actually was. They might pin their attorney against you to try and show that you did not miss out on the income opportunities that you claim you did and that they do not owe you for everything they say they do. Expert witnesses may play the biggest role in shedding light on your income situation and what you have lost.

Of course, this only becomes more complicated when a victim is self-employed, as it can be challenging to show earnings when you do not receive a regular paycheck as others do. However, there are still ways to show what you are owed through aspects like income tax returns, business records, and expense statements. You can also gather letters from important clients and what they have paid you in the past for your services.

Speaking with a Skilled Personal Injury Attorney 

You have a right to bring a personal injury claim for a variety of damages following a collision that was not your fault. One of these damages is lost wages, which may have had the biggest impact on your life as you attempt to recover and get back on your feet. Speaking with a New Jersey car accident attorney can change the outcome of your case and ensure that you receive the compensation you are entitled to. Please contact us at Brady, Brady & Reilly to find out how we can assist you at (201) 997-0030.