[mitchmatch]

Hi guys im a bit confused i just started to study for Reg and I keep seeing questions regarding workers comp, yet in one instance its taxable and others its not. Can any one clear up the confusion? I think it has something to do with getting it from an employer vs the state? Any help would be much appreciated.

FAR-76 First attempt.
AUD-79 First attempt.
REG-79 First attempt.
BEC-79 First attempt.

Done!

BECKERS

[plotikkk85]

Workers comp should not be included in your AGI!

You will receive workers’ comp even you were grossly negligent, except – fighting, intoxication (do not drink) and self-inflicted wounds (do not hurt yourself)!

Also, if you will sue your employer it will limit your recovery portion.

Employer can purchase a special insurance from the state or a private carrier.

Just remember…it not taxable to you – so no deduction on personal tax return.

However, it can be deducted by your employer as an ordinary business expense.

Good luck ☺

[Author]

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