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You can receive disability benefits while working, however; your monthly income must be below the current allowable limit. This limit is referred to as SGA, Substantial Gainful Activity. In 2014, SGA is $1070 gross income per month. This is easy to monitory and calculate when working for an employer, but what if you are self-employed?
If you are self-employed, you will fall under different regulations. As a self-employed individual you may work 70 hours a week and make $100 or you may work 2 hours per week and make $1000. The income amount of a self-employed individual rarely reflects the amount of time put into the job. As a self-employed individual you wear many hats and hold extensive knowledge that the Administration will place a value on, regardless if you receive immediate income or not.
The Administration will determine if you are engaging in SGA by three tests. The tests are listed below.
As a business owner, you know that all of the money coming into the businesses can leave just as quickly. This is due to the multiple kinds of expenses you incur on a monthly, quarterly or even yearly basis. When applying for disability, you should be prepared to disclose all of your income statements and tax information to the Administration. This will allow the Administration to determine the appropriate amount that should be allocated to you which will directly affect whether or not you are considered to be working over the SGA limit.
If you are self-employed and are applying or have already applied for disability benefits and want to learn more, please contact our office at 1-877-526-3457. You can also visit www.ssa.gov and read the code of federal regulations as they relate to self-employment.
Jan Dils, Attorneys at Law