Great vid, thanks. My situation. I've been on Disability for a couple years and I've written a book. I'm reluctant to have it published out of fear of losing some or all of my secure Disability. And if I did have some commercial success with the book, but it was only temporary, . . . then what?
My understanding is royalty income from a books, real estate, investments, insurance renewals etc are not viewed as SGA income and not count towards your allowed about. Good Luck with your book
With regard to disability benefits and investments, you focused on the income restrictions, but what about the other benefits that disability recipients get such as health insurance through Medicare and state insurance? Do those Medicare care and state insurances get affected or were they affected in the case that you discuss here?
@@heartfacingupward no its passive income unless you are registered as a broker. Only income that generates a 1099 from an employer or self employed would
Passive income from real estate insurance residuals have not been considered income from work related activities that have had no impact on Social Security disability benefits. …. It’s not clear to me exactly what your business says and how much effort will be involved in making it work so I cannot speak for certain but I’m in hopes this gives you a general idea
@@TheDisabilityDigest Cool beans, I appreciate the response. Had my appointment Thursday and they are stopping the benefit because of the amount of income received….smh! No use even trying to participate in the ticket to work program if the income exceeds a certain amount of months; but I have up to 36 months to report and pick SSDI payments back up if I stop receiving it!
Does bitcoin mining count as passive? Because the IRS says I'm self employeed with it. Even though I don't do anything but turn my computer on and have it make money.
Hi Reminder that the amount of time you are engaged in an activity regardless if it is for profit or not is considered. The Video Covers What Income Affects Your Check And How Much You Can Make (SGA) ruclips.net/video/lfuF8tYSrhY/видео.html
We have information on this channel that will help. For specific information tailored to your needs and live support get a Free Disability Digest Membership. Go to: bit.ly/34wviJY
What about royalty income from books, music, inventions? Is it possible to set up a trust so that there is not a realized income? I have an LLC Should I put it into a trust? Should I put it in my kid's name?
This interview with Michael will help you understand how SSA treats passive income ... In addition to this I will go into more detail in the Friday RUclips live around 12 pm est ... Great question thanks. ruclips.net/video/bQS8uMlxI4o/видео.html
@@TheDisabilityDigest Thank you. I did some further research and have discovered that royalty income is considered active income. Here is an excerpt of the SC decision. I will also post a link to the full article. The question I have is how do I set up my business so It is not realized income or active income for me? A trust? If so how? I am getting old enough that I just as soon let my kids have it and I will act as a silent director. "The SC, on the other hand, pointed out that the amount of cash inflows from the taxpayer’s operating activities consists only of income from its royalty and interest income, as presented in the Statement of Cash Flows for both taxable years 2010 and 2009. Similarly, the SC observed that the taxpayer’s income tax return did not reflect any cost of sales or services for 2010. Having no amount reflected as cost of sales or services gave the SC sufficient reason to doubt whether the taxpayer’s main line of business actually involves manufacturing, buying, selling, and dealing alcoholic and non-alcoholic beverages, as they claim. The SC deduced that the taxpayer’s royalty income from licensing its IP rights is income generated in the active pursuit and performance of its primary purpose; thus, it is not considered passive income subject to final withholding tax. With the SC decision, taxpayers should revisit their agreements involving royalty transactions and determine if the related royalty income is generated in the active pursuit and performance of their primary business. Check whether the activities conducted in generating the royalty income are directly related to the primary purpose, as stated in the AOI. Taxpayers, especially those who mainly earn royalty income, such as franchising businesses, may need to reevaluate if the fees it derived from the grant of use of property, trademarks, and licenses are indeed passive income. These items of income are generally recognized as passive income. It is important to assess each income item and determine if they are derived from the conduct of the primary purpose of the business or merely supplemental." www.grantthornton.com.ph/insights/articles-and-updates1/lets-talk-tax/royalties-active-or-passive-income/ But then I find this article that indicates it may be determined on a case-by-case basis. socialsecuritydisabilityadvocatesusa.com/royalties-affect-social-security-benefits This last link describes the differences of incomes. Passive, investment, residual, royalty, earned. www.investopedia.com/ask/answers/040615/what-difference-between-residual-income-and-passive-income.asp
@@marqueedavis5177 Am I safe to assume that this also applies to SSDI. This is the income I will be receiving. My Royalties for the idea's will not be part of my efforts. I turn the ideas over to a separated company and they do everything. I am not an employee of the company. They take care of Production, design, marketing and sales and pay the royalties. I literally have no effort except the original concepts.
So really, can you work on SSDI for 8 years if you stay under the SGA limits? The Trial Work Period is 9 months, but you can stretch that over 5 years. Then you can do the Extended period of eligibility for 3 years, which is 8 yeas total. But if you do the 9 months straight and then get the extended, that is 3 years and 9 months right? Question is...how can you get the 9 months and the 3 years without losing the benefits? Just stay under the SGA amount each month?
If you're already approved and need to make a little extra money while receiving SSDI can you work 10 to 15 hrs a week for $600 a month or does the 9 months in a 5 year period apply if its that little in order to maintain your SSDI?
Thank you
Question, can a person on disability begin an LLC for ministry purposes, NOT as a business?>Thank you
To Learn What Income Affects Your Check And How Much You Can Make
(SGA) Watch This Video ruclips.net/video/lfuF8tYSrhY/видео.html
Great vid, thanks. My situation. I've been on Disability for a couple
years and I've written a book. I'm reluctant to have it published out of
fear of losing some or all of my secure Disability. And if I did have
some commercial success with the book, but it was only temporary, . . .
then what?
My understanding is royalty income from a books, real estate, investments, insurance renewals etc are not viewed as SGA income and not count towards your allowed about. Good Luck with your book
@@TheDisabilityDigest Thanks you. "SGA"?
@@muserwood Substantial Gainful Activity
Great video thank you
Very welcome
Why I can not keep my disability and my widow benefits and why take my retirement and give me just my husband's
What if I find a gold watch with diamonds in it and try to auction it online years later and it's worth 6k?
thats a great question however i dont know the answer to that one
With regard to disability benefits and investments, you focused on the income restrictions, but what about the other benefits that disability recipients get such as health insurance through Medicare and state insurance? Do those Medicare care and state insurances get affected or were they affected in the case that you discuss here?
Will stock and futures trading affect your SSDI?
following. I have the same question.
That is what I need to know.
@@heartfacingupward no its passive income unless you are registered as a broker. Only income that generates a 1099 from an employer or self employed would
@@staxoffunk1863 You do get a 1099 from trading stocks I believe it is a 1099 b.
@@BoomBubbleBustRepeat right but thats considered passive income
I want to launch 3-5 Online Passive incomes on SSDI! How do they look at that? Thank you!❤
Passive income from real estate insurance residuals have not been considered income from work related activities that have had no impact on Social Security disability benefits. …. It’s not clear to me exactly what your business says and how much effort will be involved in making it work so I cannot speak for certain but I’m in hopes this gives you a general idea
I make around 8500 dollars a year will I be okay. About 14 hours a week
Does (Medicaid Waiver) difficulty of care payments need to be reported and does it count as earned income against SSDI recipients?
I made a specific video for your question... it will be release within 48 hours
@@TheDisabilityDigest Cool beans, I appreciate the response. Had my appointment Thursday and they are stopping the benefit because of the amount of income received….smh! No use even trying to participate in the ticket to work program if the income exceeds a certain amount of months; but I have up to 36 months to report and pick SSDI payments back up if I stop receiving it!
Goodnews
Does bitcoin mining count as passive?
Because the IRS says I'm self employeed with it. Even though I don't do anything but turn my computer on and have it make money.
Hi Reminder that the amount of time you are engaged in an activity regardless if it is for profit or not is considered.
The Video Covers What Income Affects Your Check And How Much You Can Make (SGA) ruclips.net/video/lfuF8tYSrhY/видео.html
How do I become a member? Don't see any place to sign up.
We have information on this channel that will help. For specific information tailored to your needs and live support get a Free Disability Digest Membership. Go to: bit.ly/34wviJY
What about royalty income from books, music, inventions? Is it possible to set up a trust so that there is not a realized income? I have an LLC Should I put it into a trust? Should I put it in my kid's name?
This interview with Michael will help you understand how SSA treats passive income ... In addition to this I will go into more detail in the Friday RUclips live around 12 pm est ... Great question thanks. ruclips.net/video/bQS8uMlxI4o/видео.html
@@TheDisabilityDigest Thank you. I did some further research and have discovered that royalty income is considered active income. Here is an excerpt of the SC decision. I will also post a link to the full article. The question I have is how do I set up my business so It is not realized income or active income for me? A trust? If so how? I am getting old enough that I just as soon let my kids have it and I will act as a silent director.
"The SC, on the other hand, pointed out that the amount of cash inflows from the taxpayer’s operating activities consists only of income from its royalty and interest income, as presented in the Statement of Cash Flows for both taxable years 2010 and 2009. Similarly, the SC observed that the taxpayer’s income tax return did not reflect any cost of sales or services for 2010. Having no amount reflected as cost of sales or services gave the SC sufficient reason to doubt whether the taxpayer’s main line of business actually involves manufacturing, buying, selling, and dealing alcoholic and non-alcoholic beverages, as they claim.
The SC deduced that the taxpayer’s royalty income from licensing its IP rights is income generated in the active pursuit and performance of its primary purpose; thus, it is not considered passive income subject to final withholding tax.
With the SC decision, taxpayers should revisit their agreements involving royalty transactions and determine if the related royalty income is generated in the active pursuit and performance of their primary business. Check whether the activities conducted in generating the royalty income are directly related to the primary purpose, as stated in the AOI. Taxpayers, especially those who mainly earn royalty income, such as franchising businesses, may need to reevaluate if the fees it derived from the grant of use of property, trademarks, and licenses are indeed passive income. These items of income are generally recognized as passive income. It is important to assess each income item and determine if they are derived from the conduct of the primary purpose of the business or merely supplemental."
www.grantthornton.com.ph/insights/articles-and-updates1/lets-talk-tax/royalties-active-or-passive-income/
But then I find this article that indicates it may be determined on a case-by-case basis.
socialsecuritydisabilityadvocatesusa.com/royalties-affect-social-security-benefits
This last link describes the differences of incomes. Passive, investment, residual, royalty, earned. www.investopedia.com/ask/answers/040615/what-difference-between-residual-income-and-passive-income.asp
Yes. Use a Special Needs Trust to protect your check from SSD and/ or Medicaid - any outside income goes there
@@marqueedavis5177 Am I safe to assume that this also applies to SSDI. This is the income I will be receiving. My Royalties for the idea's will not be part of my efforts. I turn the ideas over to a separated company and they do everything. I am not an employee of the company. They take care of Production, design, marketing and sales and pay the royalties. I literally have no effort except the original concepts.
So really, can you work on SSDI for 8 years if you stay under the SGA limits? The Trial Work Period is 9 months, but you can stretch that over 5 years. Then you can do the Extended period of eligibility for 3 years, which is 8 yeas total. But if you do the 9 months straight and then get the extended, that is 3 years and 9 months right? Question is...how can you get the 9 months and the 3 years without losing the benefits? Just stay under the SGA amount each month?
Great question, I do not know of a limit on the earnings during the Trial work period... for more information go to www.ssa.gov/oact/cola/twp.html
If you're already approved and need to make a little extra money while receiving SSDI can you work 10 to 15 hrs a week for $600 a month or does the 9 months in a 5 year period apply if its that little in order to maintain your SSDI?
Yes you can to learn How Much You Can Make Go To thie website and watch the video.
www.thedisabilitydigest.com/how-much-i-can-make-m/
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