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Hello, I was just approved for SSDI. I have a rental property that I will rehab with the back pay. I would then like to set up a LLC for the rental for personal liability protection. Is the income through the LLC considered passive or should I avoid the LLC so rental income is classified as passive income? Thanks in advance. Oh, what about S corp?
Will do. That's a complicated one...involves AIME, PIA, and Bend Points. I explained it probably about 10,000 times when taking retirement claims at SSA. lol I will definitely do a video on that this month! Thanks for the recommendation.
@@MyGovExpert my main concern is, the repeal of WEP and Govt Pension Offset, supposedly on September 20, 2022. I retire in 2-3 years. Where do I stand. I will have 20 yrs in the PERs system but I also have 30 contributions prior but are they “substantial earnings”! Yes, it’s all a formulated mess!
@@pgpc6448 Unfortunately the repeal wasn't included in the recent legislation. After many years of trying...I don't see it happening any time soon. If you have 30 YOCs, (years of coverage), then you are exempt from WEP!
