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| Self-Employment & Social Security |
Importance of Preparing a Benefits AnalysisCertainly not all, but a large number of individuals with disabilities depend on some form of SSI and/or SSDI benefits including Medicare and Medicaid reliance for daily living supports and work supports. Preparing a small business benefits analysis, or in simpler terms, putting together an analysis for how a small business will impact a small business owner’s benefits, is a very important step. As BPAOs, when working with a customer who is developing a business or an individual who has a small business, there are a series of critical factors that need to be accounted for by small business owners with disabilities who receive SSI and/or SSDI benefits from Social Security. SSI and SSDI have different policies and laws for self-employment than are used for regular wage employment. Medicaid, Medicare, Section 8 housing, food stamps, and other support programs are generally impacted by self employment income and in some cases significant new gains occur as a result of small business earnings and resource exclusions and in other cases substantial losses can occur if not planned for. The interdependent nature of benefits and supports requires that careful attention be paid to how a small business interacts with a person’s benefits. Key areas of focus for benefits anaylsis are the:
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The VCU-BARC Self-Employment & Social Security Pages have been developed in conjunction with Griffin-Hammis Associates, LLC. The contents do not necessarily represent the policy, interpretations or opinion of the Social Security Administration (SSA). The information contained here is intended to inform readers of issues that may affect Social Security and/or other public assistance benefits. Because individual circumstances differ, the reader should not rely on any information here as being specifically applicable to an individual's situation. Readers are encouraged to contact a BPAO benefits specialist to discuss her or his specific situation. |