| Title | : | Can you have a business if you receive social security or disability benefits and when is it a hobby |
| Lasting | : | 10.09 |
| Date of publication | : | |
| Views | : | 25 rb |
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Excellent information, very clear Thank you Comment from : @olgased4161 |
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Can u loose your ssi check if u start making money on YouTube? Comment from : @amy-h1z7t |
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I was on social security disability but when my dad retired I had to get ssi but I don’t have to reapply ever again because my medical problems are on going I would like to get a small business for my hobby I do tons of crafts I just would like a little money in my pocket Because now I live on my own since my mom passed away so my money goes to bills,lot rent,animal supplies and other stuff I just wanted a little extra money because there not much left after everything is paid So do I need to report it I wouldn’t be making much a month and it’s not like I would be making enough to be doing taxes Comment from : @Craftergirl |
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If you’re on disability can you own stocks and bonds or be engaged in the stock market? Comment from : @jasonkennedy2348 |
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I have a friend that’s curious about creating an llc They receive supplemental security income around $900 a month and receives Social Security Disability of about $800 a month They want to volunteer but they heard if they do that it could be seen as SGA (or something like that seen as they can work) But in reality they’ve had a hard time and want to pay it back towards people and businesses They can’t hold a stable job because of mental health issues (Yes I had permission to post this) They also have a family to worry about so they don’t understand how they could handle this Could you please give me some insight to give this individual and their loved ones some closure? brIt is very hard for me to find information for them on this Comment from : @FamBam-ct1en |
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Thank you Comment from : @Truth_Unchimed |
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I always thought of SSI, at least in my case, as a crutch and a theif I received an EMT license in 2006 but I'm not allowed to work in Emergency Medicine That's a waste of a license and of my time It's also a waste of my money ($1,500) Since 2010, I designed over 60 tartan patterns and I want to start weaving many of those tartans to sell Comment from : @johnorr8094 |
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If I am on SSBI am working part-time as long as I stay under the earning limit I should be fine, is that right? Comment from : @KevinPearson-n3w |
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I'm 31 yrs old; have been on disability since I was 18 months old, however I also get a check from my father as well Together they're less than a thousand a month I'm a Crafterhave been all my life, but I'm definitely not a pro at anything I have recently gotten into Canva, when I was younger I loved using windows paint, so when I came across Canva I was happy again I also love smash journaling/Scrapebooking and making bracelets and keychains With that being said could I do something like print on demand products to be able to make some money to be able to but personal wants like craft supplies and organizers for it all?? I haven't been able to find anything that explains it good enough for me to understand it Please Someone Help Me?!? Comment from : @shaleniavanorsdale93 |
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Hello, new subscriber herebrI had a stroke back in 2012 and have been on disability since I just recently completed a tax preparation course and want to start an LLC working from home Will this affect my ssdi benefits even though the work would be seasonal? Or I can form the LLC, but make sure my income is within the parameters? Thanks for any help you can provide me Comment from : @DfromBoston |
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Its also important to partner up with people who will help do the tasks needed to run the majority of the business such as partners, friends, personal assistants or employees who share management responsibilities operating the businessthe SSDI recipient should be aware that consistently doing more than 50 of the responsibility needed to run the business makes them ineligible for ssdi your tasks and responsibility should not be more than a third or 30 of the energy and responsibility shared by two other people needed to perform services, make a product, or manage the business hire or utilize a manager, personal assistant, family member and employees, and delegate most of the work to at least 2-3 other people every month of your business operation when you fall below utilizing those 3 people, they are no longer available to help you, or you are performing more than 50 of the tasks needed to run the business in any given month, you must inform SSA of your work activity It is in your best interest to be transparent with SSA even if its something that you think may be insignificant like an additional side hustle, or occasional work it could mean the difference of being found guilty of SSDI Fraud or not Its better to be informed and stay within the law Comment from : @ghdvhvdfrfjhyf |
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What did you mean towards the end when you said there's a difference between making $1,000 and being paid $1,000? Also wondering if there's anything in this video that is no longer relevant since it's kind of old Comment from : @SuperMeterVideo |
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What about doing foster parent for one kid? I'm 64 years old onv SSDI Comment from : @brooksteela |
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So I have 2 questions I know someone who has 2 vehicles and want to sell them because they can't drive, do they have to report it? Also, they also have a house and need to rent a room, do they need to report that as well and will they loose their benefits They are on SSDI Comment from : @mariejeanty1346 |
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What about doing art commissions and getting an LLC for the purpose of protecting my artwork? I'm in a wheelchair and reply on my disability for medical insurance Comment from : @johnathancasanova6956 |
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Yes my goal is exit off provincial disability in Canada - Which is called ODSP (Ontario Disability Support Program) Comment from : @MinnieOnCam |
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I'm a Canadian on disability, and I've been operating my existing business while disability for 6 years now been operating it for 20 years Being on disability was humiliating they pressured me to go through their employment training program to prove I'm capable of operating my business Now I'm following the Dave Ramsey baby steps to one day exit disability Comment from : @MinnieOnCam |
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Wasnt really helpful since she made no distinction between ssi disability and ssdi disability Comment from : @justthefacts982 |
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This is scary My SSI/SDI allows me & my small family to survive But my dream is to be successful as an indie author I'm near blind, & fear of losing my benefits if I try to succeed Comment from : @JeremyRiker |
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Hey dear! Thanks for the video I'm on SSID for 8 years I want to attempt to start my own business At what point t do I report to SSID After I earn an income? Or during formation of the business? Comment from : @seigle5150 |
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Can I write while on SSI? Or make crafts? Comment from : @kaylajames3098 |
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Hi Lori,brI hope I can articulate this enough for you to understand My wife unfortunately was paralyzed this past February She was working a full time job before the accident She also started a side business with a partner in 2020 and they opened an S Corp She's unable to work her side business but she is still getting quarterly dividends She's also getting State Disability now and it will end in 2/2023 We haven't deposited any of the checks but I wanted to know if we can I hope this makes sense Thank you for this video and for any advice Comment from : @art_of_jing |
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Once you achieve FRA can you work without limits and just take Social Security? Comment from : @lavellnutrition |
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No not exactly brFor SS Retirement:brFor those who are over 62 and under their full retirement age, there is an earnings limit (19,560 in 2022) For any amount above the earnings limit social security will withhold $1 for every $2 you earn over the limit This is not a tax, it actually remains your money that will be returned to you over time if you live long enoughbrFor people who have reached their full retirement age, there is no such penaltybrThere is a special rule for the first year that you reach full retirement agebrIf your total annual income as an individual is under $25,000 the social security portion of your income is not taxable If your total annual income is between $25,000 and $34,000, up to 50 of the social security portion of your income is taxable If your total annual income is over $34,000, 85 of the social security portion of your income is taxable The maximum portion of social security income that is taxable is 85 Comment from : @Endless_Skyway_Adventures |
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Thank you for taking the time to make this video You answered several questions that cleared my confusion on this topic I think I better higher a CPA lol Comment from : @HollywoodCO_Main |
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I checked into this and people that are on ssdi that get up to $841 dollars a month max income limit is up to $2000 a year if your business goes over that ssi will cut your payments off if your on sssi due to a disability and allowed to make up to $2000 a year your benefits will be effected ,cut off from disability Comment from : @travelisfun5689 |
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Perhaps i was distracted, but im still confused 🤣 brIm going to start stop thru this again and take written notes so im xactly clear on all if this Thank for for providing this for the viewers Im fully disabled and i just want to be a hobbyist Comment from : @reason5591 |
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I've been on SSI my entire life, due to autism, but I also deal with pain and adhd and other things I don't have ssd or ssa or ssdijust ssi Never had to pay taxes before How much can I make with a business without my ssi check being reduced? Do I need to report it to ssi? Comment from : @amyroseauthorofficial |
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Thank you I'm really trying to get off and be on my like I use to be I had a stroke be for I was working for myself I'm in school and about to graduate and receive a good paying job able afew thousands a month I Want to let SSDI go and be independent Comment from : @equhartrandall8510 |
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I have a question if I only make $100-200 in a few months will they cut my beniftswill they find out Will I have to fill out taxes I am with etsy Comment from : @sebastianortiz8975 |
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Can you put the business in your child’s name? Comment from : @sashaAcruz693 |
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Hi Lori, thank you so much for your info on this video What if you build multiple streams of income from YT etc and are on Survival Disability? How much are you allowed to make? Comment from : @creativegemarts |
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Great information So I got a llc and because my husband is a w 2 worker my income will be included with his My question is how would that effect my Ssdi I just open up in oct of this year and mainly doing pop ups Not near 600 a month But wanted to go in stores? Only 36 and legally blind but I want to not depend on this put it’s funding my business Comment from : @missbnatural4384 |
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is that $600 a month or over the year? 2021 Comment from : @jayescreations489 |
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This video helped big time I was getting advice from the wrong people I will continue to watch more videos thanks again Comment from : @kmaro1553 |
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If I make $2000 a year doing online surveys for gift cards for sites like swagbucks will it affect my benefits Comment from : @princesstgabriel5812 |
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lf I lose my disability and my business fails, do I have to reapply and wait years to be re-approved? Comment from : @faheeta5036 |
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I have SSDI and so far I have started a Phone Interpreting Independant Contractor job of less than 45 hours monthly! Let's see what they say when I report it? I only work 2 hours a week sitting on my bed! So there's nothing they can tell me that I physically working?🤔🤔🤔 Comment from : @palomahealing5073 |
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It really depends on if you're getting SSI or SSDI SSI is income driven as it is a supplemental disability income and SSDI is not income driven it's based upon past earnings Comment from : @myypca6097 |
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Could you sell on eBay? Comment from : @MusicBoxVinyl |
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Help me plz Comment from : @iyatundesims2673 |
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Does ssdi look at the schedule C on my taxes to determine if I went over the amount? The schedule c deducts expenses Comment from : @theadventurekidz-scienceho843 |
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Hello Lori Can I get an LLC without messing up my ssi? I was thinking of just painting houses from time to time for some extra cash Comment from : @marleymar2644 |
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Hi Lori thank you for doing what you do I am not able to work at all because of a bad knee and getting ready for surgery I work for Instacart we deliver groceries, I also manage a venue for a nonprofit organization, I get paid $400 A month Right now I’m not working at all because I can’t walk without a cane and very painful So my question is can I apply for disability and if so how do I go about doing so? Thank you Comment from : @maryalanis8323 |
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What about a parent of a disabled child Can parent have a home business and how will that affect ssi? Comment from : @sherinemincel2525 |
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Hi Lori! I’m looking to start my own business! I know you said I can get my state I’d and federal Does this also mean I can get a work permit? Comment from : @melaninonfleek519 |
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What is consider work?brIf I become an coin loundeymat owner, is that consider work?brHow about if I rent a house and get income on it? Comment from : @williampineda1841 |
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what about the money of being an author Comment from : @eyezerocool |
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Thank you Lori! This helps a lot Comment from : @devinmorlan3451 |
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Ok I would like to ask a big question on this subject I want to open a sports card shop I will need one employee My former income was Over $120,000 a year and odds are this shop will never equal that Also my personal time per week will be less than 8 hours spent “working” What is my best option I am on SSDI and a Disabled Veteran Also as with all hobbies income is only measured through profit correct If I spend a $1000 and break even or profit only $100 for example Comment from : @sonnyturner6334 |
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Very good information Thanks Comment from : @hapshabyahyisrael9810 |
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How about the health insurance? Comment from : @thomasfilion9064 |
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Thanks for this message video I am looking to start a business but at the same time I don’t to be controlling with my money that why I rather start my own business Comment from : @elliottgarcia1640 |
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i have a quick queston i have a hobby and want to know if it ok to do twitch it a live streaming communitty and want to know if that ok for ssi that it will not take my ssi or medicaid and it only paid 100 dollar and I am disable let me know when you get a chance Comment from : @GPB_222 |
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super helpful thank you! Comment from : @AngiePeacockMSW |
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I have a question Does social security look at the money you make before deducting supplys etc to make it or just the profit portion of selling a craft? Comment from : @brewmastersteve |
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Very good video thx! I wonder if it's ok to start a Corp or LLC and only pay yourself under $1000/mo and leave the rest of the capital in the business account I wouldn't mind trying to get off SSDI but I am paralyzed and I feel liked it would be a huge risk brbrbrI would only feel comfortable knowing that my income is secure, steady, and that I could handle the workload but I feel that I can't predict that until actually starting a business On top of all of that would it be worth losing medicare as well Right now I feel trapped in the system Comment from : @PadreDProductions |
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Trial work period are much lower for 2018 its 850 If you make more than that for 9 month you will be dropped from ssdi? Comment from : @Grady00683 |
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Thank you Lorii just like making my crafts and some money Comment from : @kathyortiz4302 |
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Very helpful information Lori Thank you! Comment from : @lisabronk2112 |
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Great videothank you so much🌸🌸🌸 Comment from : @sandygarcia7435 |
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This answered several of my questions and was very helpful, thank you Comment from : @Angela152half |
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Thanks Lori that’s good to know am Angela from Stone Mountain Ga Comment from : @angelaell67 |
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Reference to the $600 Is that monthly or yearly?? Or just once a person has made that amount? No matter how long it takes to earn?? Comment from : @juneschevers2933 |
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Thanks for going over that I have just been approved for disability I was a mortgage underwriter so I think this will be a hobby for me I am not supposed to stand or walk for long periods of time and the best position for me is reclining I just need to keep my mind and hands busy Comment from : @Jules1280 |
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Great information! Thank you Comment from : @gloriawarrick6434 |
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I wander how much a couple would recieve monthly if both are on ssi? Comment from : @patsinnerdickey8440 |
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