Or is it a legal way to start a business without it bothering my disability income?
Answers
Sherod,
If you are receiving SSI/SSDI, please review the following link: http://www.chooseworkttw.net/
The Ticket to Work program is a wonderful program that allows for a trial work period, where your benefits will not be affected.
If I can be of further assistance, please do not hesitate to contact me.
If the business is yours, chances are you can reinvest the dividends and not count them as true income. Pay yourself the $18K you are allowed by disability every year, then make all large purchases in the company name and you will be fine. It is the best way to go. However, I would advise making it an LLC. If you do it as a sole proprietorship it is all attached to your social and counts as income, which leaves you scrambling for write-offs come April.
Hope that helps! message me if you have questions amy@2marineholdings.com
Pursue the business and your dream! . Earning a good living where you might no longer wualify for disability benefits can be a goal you choose to establish, rather than a fear. Pursue your dreams, and aspire to earn many times more than any disability benefit.
Sherod
The short answer is yes you can work!! If you receive a VA disability benefit, I would contact a local service officer for clarification of working with VA benefits. You can usually find service officer through your local Legion hall or workforce center Vet Rep. If you receive a Social Security Disability benefit, SSA there are several incentives to assist you to return to work. IF you go to the choose work site posted earlier you can find an Employment Network that can help you understand the SSA work incentives. If you do meet with an SSA benefits planner you want to make sure they have been properly trained.
Questions to ask:
1.) Where did you complete your work incentives training? (If not VCU or Cornell's program they are not really trained)
2.) Since you are considering self-employment ask what their experience in working with self-employment and incentives. The standards are a little different.
Are you receiving SSI or Military compensation? As those are two different types you will need to verify which one you have and find out the limitations of each before moving forward. Certain MC has no limitation. The second type has a number of hours worked per week limitation, where they limit your hours and compensate your for the remaining hours you would work. And the final one has a complete hold on work and they compensate you completely for your ability to not work, and for your disability. If you have any questions feel free to message or email me and we can discuss it further.
Social Security places limits on the amount that you can earn per month on disability. The latest fact sheet can be found at: http://www.socialsecurity.gov/pubs/EN-05-10003.pdf
Your Answer
Please log in to answer this question.