What sickness or injury benefits are taxable?

What sickness or injury benefits are taxable?

Steve Duben, CPA (Partner, Duben & Natividad) gives expert video advice on: Do I need to pay taxes if I make a profit selling my car or other possessions?; Is my disability income taxable?; What sickness or injury benefits are taxable? and more...

If you're getting sick pay from your employer who had a program that says if you get sick, we'll pay you your paycheck, that sick pay is just regular wages and it doesn't make any difference. Sick pay is still income to you, it's just that it's your employer's policy to pay you for that week or two that you're out sick. If you happen to be getting income for an injury from an insurance company, where it's similar to disability income, that may not be taxable. If you're concerned about whether it is or isn't, you need to seek the assistance of either the person that's paying you that money, or go back to a tax professional who can analyze the situation.