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.
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. I 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.
Perhaps i was distracted, but im still confused 🤣 Im 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
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.
Hi Jeremy! I understand it can be scary and I would check with your caseworker if you have one because you can still work part time without losing your benefits. I hope one day you can be successful and for your dreams to come true. Thank you, Lori.
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
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
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.
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? It is very hard for me to find information for them on this
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.
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?🤔🤔🤔
Hello Paloma! As long as you’re not making more then $1310 per month gross then you should be fine. Just make sure to report it which you already are. I hope that helps. Thank you, Lori.
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 ssdi..just 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?
Hi Amy! You can make up to $1,767 a month but you do need to pay taxes. I would speak to your caseworker about whether you need to report the income or not. Thank you, Lori.
Hello Angela my question pertains to this topic I have bin on ssdi for like 11-12yrs. I was 37 when I was accepted & I agree when you said that you don't make alot of money on SSDI, actually works out to be 1/3 of what I was making pre- ssdi(44k)between ssdi & small pension and has bin a rough all along trying survive. I have always at busy at home tinkering with mechanical projects and started a very small backyard business I'm working on small engines like lawn mowers snow blowers etc that I started back in November 2019. It's roughly 800-1000 a month. Was going ok until april. March then once i finished a couple jobs. Its bin like wiped out i maybe had 2 small jobs since. Mostly because im vulnerable to being a covid-19 casualty if i caught so until im inoculated my little shop is shut down. I really miss the extra money can i get eid-el Grant or PPP and have a legal business while on disability
Hi Angela! I hope I got your name right and wasn’t sure if you said your name is Angela because mine is Lori. I’m really sorry to hear that you were doing so well with your business and that it has slowed down now. SSDI isn’t very much at all so I understand why you decided to start that business. It is not a good idea to apply for PPP or alone while on disability because they could see that as full-time work and you could lose your disability. I’m hoping things get better with your business soon and that you get more work. Please take care and I appreciate you watching, Lori.
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.
Hello there! Bless your heart and I understand it can’t be easy for you. Ssdi limit is like $1100 a month so the dollar amount isn’t something you’re gonna have to worry about. I wish you the best of luck. Thank you for watching, Lori.
Hi Lori. I know this is an old video but the information is great. I am wondering if I have to immediately fill out a PASS application. My business is really not making any money as of yet. I just started making candles and don't expect to make a lot of money but it gives me something to do. I know that in Texas you have to have a sellers license to be legit. You have to charge taxes on your products and pay taxes quarterly. Can I put off a PASS application until I am actually earning money from my business. The application is trickey because it asks about how much money you plan to make. If I say Zero then they won't approve my application but I may not make anything for months. If I gestimate $500 then they might think I actually have that money coming in.
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.
Hi John! That’s an awesome thing to make. It is really not designed to live on. I mean who could live on what they give you. I hope you are very successful. Thank you, Lori.
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 Crafter...have 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?!?
Hi Shalenia! If you’re doing it as a hobby and you’re not making very much money doing it then it should be fine. What they look at with SSDI is if you are doing something that could replace an income. You just have to be careful that the money does not go over the amount that is allowed. Good luck. Thank you, Lori.
Hi Lori, I 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.
Hi Jon! I’m very sorry to hear about your wife’s paralysis and she’ll be in my prayers. As for your question, as long as she doesn’t make more then $1,350 a month then it shouldn’t affect her benefits. Thank you for watching, Lori.
No not exactly. For SS Retirement: For 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 enough. For people who have reached their full retirement age, there is no such penalty. There is a special rule for the first year that you reach full retirement age. If 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%.
I do not give exact amounts and this video has not been updated to current tax legislation but yes. The point of this video is to make all of what you said easier to understand to a Lehman. The average person is going to have no idea what you said. Thank you, Lori.
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?
Hi Vanessa. On Disability it’s about $1100 a month that you can have without it being a problem. Survival disability is a little bit different and I’m not too familiar with it but from what I researched, there’s no limit if you have reached full retirement age otherwise it’s about $18,000 a year. Keep in mind that it changes yearly. I still think it’s a good idea to research this as well. I hope that helps. Lori
I received ssdi but want to start a nonprofit organization. And receive no income should I be okay or should I be the founder and let someone else run the nonprofit? I mainly visit people In the nurse homes and do annually events for Veterans Day and Christmas, and sometimes do events at children hospitals like arts and crafts
Hello John! I think the work you do is wonderful and you have a good heart. Starting a non profit organization won’t affect your SSDI so you will be fine. Thank you, Lori.
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
Hi I have a question. I love to help other woman. A friend told me that I could take a like one person a week a coach then for about $10 a meeting. I want to try and do this. I could not take more then one a week. all I would be doing to helping them figure out what they want to do help with make a plan and then be there to talk to them if they need advice or incouragement. . I dont want to lose my money because it really hard for me to work all day everyday even If I had the weekends off
I think that’s a great idea and you won’t lose your benefits as long as you make under $1,200 a month. I hope this works out for you and that you’re able to make some extra money. Please don’t forget to like and subscribe if you enjoyed the video and thank you for watching, Lori.
Hello William! It’s anything that you earn money from so those would be considered work and would affect your SSI and Disability if you make more then a certain amount. I believe anything above $18,000 but you can ask for an exact amount since it can change from year to year. Thank you, Lori.
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
Hello Mary! I’m sorry to hear about your knee and completely understand why it’s hard for you to work right now. You can sign up for Disability through Adult and Family Services through the county you live in so just google the closest location to you. I will tell you that getting approved can take time so the sooner you apply, the better. I’m praying that your surgery goes well so you’re able to walk and be out of pain. Take care and thank you, Lori.
I gett ssi will they take my ssi away if I fill out a w9 cause I'm doing tcg player. Selling cards.. for like 100 bucks the most.. and everything else is like 8 dollars .20 cents.. and there for but it hardly ever goes 100 dollars..
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?
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.
Hi Johnathan! Yes you absolutely can do an LLC, however you have to be very careful on disability that they don’t see that as a form to replace your income. Good luck and wishing you all the best. Thank you, Lori.
Hello, new subscriber here. I 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.
Hi there and welcome! I’m very sorry to hear about your stroke and you’ll be in my prayers. On the SSDI, yes it could affect it because the way they look at it is if you’re able to work then you’re not able to get benefits. Even keeping it under the amount you’re allowed to make doesn’t guarantee that it won’t cause a problem. That also could be year-round work just because of people filing late, people doing extensions, and corrections. I hope that helps. Thank you, Lori.
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
This are not business related so it would not be considered a business transaction. I would advise this person to ask a SSDI attorney. I know they do not pay hardly anything and it is almost impossible to live on that.
Hello Marley! No it doesn’t affect your SSI but working full time even if it’s a business can. I hope that helps. Please remember to like and subscribe and thank you for watching, Lori.
Hi Celiac! When you reach your full retirement age, you can work and earn as much as you want and still get your full Social Security benefit payment. Thank you for watching, Lori.
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
Hello Normad! Technically you can make $1200 a month but if your working a significant amount of hours then that can be seen as work and could affect SSDI. Running a hobby from your home is not nearly as risky as opening a shop. I would ask an SSDI attorney because they would be able to answer this. Thank you, Lori.
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?
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
That’s a great question. As long as you don’t make more then $1,500 per month then you won’t lose your SSI benefits. I hope that helps. Thank you, Lori.
Hi Sebastian! You do have to report everything especially if it’s with Etsy but they should be looking at what you made and profit and not just the actual revenue. You wouldn’t lose your SS or Disability with that amount of income though. Thank you, Lori.
@@craftingwithhwm what about if i make $500-$600 Will they cut my benfits as A Disabled person i think we should have righgs to start a small bussiness I am helping my son with his small busness and he is using my SSN And i am disabled
If your son is using your SSN then whatever income he makes from his business will be counted as your income however $500-$600 a month is still under the limit so you won’t lose your disability. You do have the right to start a small business as long as you don’t make more then the limit which is about $1,200 Gross monthly. Lori
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
Hi there! It’s for working in a business not for someone just giving you money that’s a gift and not a business transaction. Everything in the video is still relevant. Thank you for watching, Lori.
@@craftingwithhwm thank you for your reply so much! your videos are super helpful. Do you have links to like official documentation about this? my sister wants to look it over before we commit to anything.
Hi there! I don’t have anything like that for RU-vid but I have a Business Group where I mentor members who want to start a business and I do 30 minute one-on-ones and go into more detail. Here’s the link if you would like to check it out and I can help you further. hardworkingmom.com/success-path. Lori
Hi Kayla! You can but there’s a limit on how much income you make. I would ask your caseworker for more info and they can let you know based on the state you live in. Thank you for watching, Lori.
There are things I would wish to know: What if all you have left after bills are paid is $65 and that has to go for household needs? If you are on SSDI, and can't leave home due to being a caretaker, how can you start a business with no money? If you are on SSDI and wish to leave dependency of it, would it be possible to start a business and declare that any money made through it beyond $15k a year belongs not to you but the business itself and then when so much money is acquired under the business EIN bank account you advance the business to a second more efficient and productive stage that would be able to sustain your financial needs from there on to the point where you can leave SSDI dependency? If this is possible to do, could you help me create a roadmap?
I can’t create a road map because that’s something taught in my group. If there is only $65 left after bills then making wreaths to sell isn’t really something they can do. I would suggest starting a RU-vid channel and showing people how to make crafts using dollar tree or thrift items. With time a channel can bring in income. Thank you, Lori.
Hello Sherine! If you’re caring for a disabled child then you can have a home business and the income limit is between $3000 to $6000 per household. I hope that helps. Please don’t forget to like and subscribe and I appreciate you watching, Lori.
Hello Ryoko! If you would like a writing career, you can keep your benefits as long as you don’t make more then about $18,000 per year. Thank you, Lori.
Hello Sasha! If you put the business in your child’s name, you’re still the one working and getting paid. If your child is the one getting the money under her name then she would be the one filing taxes so it could get complicated. It would be easier to just make sure your income is under the limit and then you wouldn’t lose your disability. Thank you for watching, Lori.