COVID-19 Notice: Gersowitz Libo & Korek, PC is fully-operational during the COVID-19 global pandemic. We continue to handle cases and operate remotely, in accordance with mandated safety guidelines. We are available by phone, email or video conference to discuss your case.
Read More from Our Partners


over 900 million recovered for our clients

Helping New York and New Jersey Injury Victims for over 30 Years.


A New York Car Accident Lawyer Describes Damages: Lost Wages or Earnings

Car Accident LawyerRecovering damages arising out of a car accident injury does n’t just include compensation for your injuries, medical treatment, and property damage; it also includes recovery of your economic loss of lost wages and earnings. In this article, the New York car accident lawyers at Gersowitz Libo & Korek, P.C. will explain to you what these economic losses entail.

What are lost wages?

Lost wages can be part of your damages if, because of the car accident, you are not able to go to your job and you lose your salary or benefits. These economic damages can include lost pay, deduction of sick leave or vacation time, or a requirement that you make up the lost work time in the future.

Your New York car accident lawyer will double-check these damages by getting in contact with your supervisor, your workplace’s payroll department, or your boss and obtaining the following information:

  1. the time you lost from work because of your car accident-related injury;
  2. the salary that you would have earned during that time period;
  3. the pay that you received or will receive;
  4. the amount of sick leave or vacation time that has been charged to you;
  5. how your lost time affected your chances of promotion or advancement; and
  6. the amount of overtime that was available during that period of time.

What are lost future earnings?

While lost wages compensate you for losses incurred in the past because of your car accident injury, lost future earnings calculate how much you will lose in the future because of your injury. Many times, this future loss will surpass the pay you lost while you were recovering from your injury. This is especially true if the car accident resulted in a permanent partial disability.

Even if you were able to return to work, you might not have been able to perform the same kind of tasks that you were able to do before your injury; this may have resulted in a reduced level of pay. If your pay is still the same, you may have suffered from lost future earnings if your advancement opportunities, overtime, or potential bonuses have been reduced.

What if I’m self-employed?

You and your New York car accident lawyer will find it even more difficult to prove financial losses if you’re self-employed or a commissioned employee. Your New York car accident lawyer may have to present your income tax records, both before and after the car accident.

If you’re a self-employed person who’s injured in a car accident, but you experience an increase of income because of favorable market conditions, your New York car accident lawyer will get an economic expert to explain the economic circumstances and the nature of the industry as a whole.

If you own your own business, you will have to measure your replacement value or the cost of hiring substitute workers.

For a free initial consultation about your car accident injury claim, do not hesitate to contact Gersowitz Libo & Korek, P.C. Our dedicated New York car accident lawyers will help you.

Client Testimonials

A few years ago I was misdiagnosed and nearly ended up becoming a quadriplegic. Three spinal fusions followed. I asked my sister, a top D.C. lawyer, to find the name of the best personal injury lawyer in NYC, and I was referred to Jeff Korek of... Gersowitz Libo and Korek. It was a tough time for me, but Jeff and Irene were great and helped me through it every step of the way. They were compassionate, understanding and very accommodating, yet professional and always with their fingers on the pulse. They really care about the welfare of their clients, and not just money driven. When I was unable to travel, Jeff came to me, and I live an hour from the city. This firm is well known, well established, and has earned the respect and credibility among its peers. I highly recommend the firm of Gersowitz Libo and Korek without hesitation and, in fact, I already have. My thanks go out to the entire team for a better than expected outcome!!! They get a 5 out of 5 stars from me!!read more
Mary S.
From beginning to end we were comfortable with the team at GLK. Thank you Mr. Gersowitz (Ed) for obtaining a settlement out of court.
Donna L. S.
Jeff and Michael are both very professional and helpful towards my case. I would like to thank the team and Irene, the assistant, for all their help despite the length of time that the case took. They took a lot of care and were patient with... answering any inquiries that I more
Cindy C.
La mejor firma de abogados, muy profesionales, excelentes persona, todo el tiempo estuvieron pendientes de mi y mis necesidades, estoy muy agradecida con ellos.
Maricela O.
I was injured in 2011 and spent nearly 8 years with Ed Gersowitz and Jeff Korek. Their professionalism and care was beyond. The process was long and at times exhausting but Ed. Jeff and their team made me feel comfortable and in great hands. I... can't thank them enough and would highly recommend GLK to all. Thank you for all your help!read more
Jeremy N.
Thank you to the team at Gersowitz Libo & Korek and special thanks to attorney Daniel, Avi and Annette for all your help on my case. Dealing with the law...
Hazel M.
I am giving this law firm 6 out of six thumbs up. Very professional very personal and compassionate staff. From the Attorneys to the staff they were all...
Anthony C.
Thank you to the team at Gersowitz Libo & Korek, and especially to our wonderful attorney Anthony Makarov. Mr. Makarov was our trial attorney who took our...
Amy L.
Ed Gersowitz and all his colleagues at the firm Gersowitz Libo & Korek, PC far exceeded all my expectations for a personal injury law firm. From the moment...
Robin F.
They were incredibly professional and pleasant to work with. They made the personal injury process straightforward and easy to navigate. I appreciated their...
Lindsay L.
section start
Need Help with an Injury? We're Here to Help. Contact Us Today:
  • Disclaimer | Privacy Policy

  • This field is for validation purposes and should be left unchanged.