Seeking Advice on Business Structure for Disability Eligibility

[Bridgewater]

Jurisdiction

Nevada

I'm hoping someone might be able to help me. I have an autoimmune disease that has left me unable to walk or use my hands and arms in any meaningful way. To say this has been challenging would be an understatement. I'm essentially limited to watching TV and reading.

I applied for disability but was denied because my self-employed business continues to generate income. Since it sells digital products online, it operates automatically, even though I'm no longer actively involved. For some reason I'm still disqualified.

A representative Social Security informed me that I need to set up a business entity so that the income is attributed to the entity rather than me personally. However, they didn't provide much guidance beyond that.

I'm wondering—what kind of business structure would accomplish this? Any insight would be greatly appreciated.

 

[army judge]

A representative Social Security informed me that I need to set up a business entity so that the income is attributed to the entity rather than me personally. However, they didn't provide much guidance beyond that.

I'm wondering—what kind of business structure would accomplish this? Any insight would be greatly appreciated.

To receive proper, complete answers regarding your various concerns/issues; the answer is intuitive, my friend.

You need to research four or five outstanding, well regarded trust and estate attorneys in and around Las Vegas and/or Clark County.

You can begin your research using these attorney referral sites:

Lawyer Referral Service – State Bar of Nevada

Governing the legal profession in Nevada since 1928

nvbar.org

The Problem Solver - David Kohlmeier - Las Vegas, NV

The Problem Solver hosted by David Kohlmeier. David is a retired cop in Henderson, NV. For over 20 years Dave has been connecting people in the community. With his nationally syndicated podcast The Problem Solver, he has been seen consulting on cases all over the nation. Together with his...

www.lasvegasproblemsolver.com

https://gatherms.com/las-vegas/services/state-bar-nevada-lawyer-referral

Legal Resources

www.clarkcountynv.gov

Nevada Legal Services - First 5 Nevada

I wish you good health, a full recovery, and healing.

Otherwise, I wish you a long life.

Hang in there, better days are on your horizon.

 

[Mark_A]

I'm hoping someone might be able to help me. I have an autoimmune disease that has left me unable to walk or use my hands and arms in any meaningful way. To say this has been challenging would be an understatement. I'm essentially limited to watching TV and reading.

I applied for disability but was denied because my self-employed business continues to generate income. Since it sells digital products online, it operates automatically, even though I'm no longer actively involved. For some reason I'm still disqualified.

A representative Social Security informed me that I need to set up a business entity so that the income is attributed to the entity rather than me personally. However, they didn't provide much guidance beyond that.

I'm wondering—what kind of business structure would accomplish this? Any insight would be greatly appreciated.

You would need a business entity with a separate tax id (or EIN) number from the IRS. You could be organized as an LLC, Subchapter S, or a C corp, but probably a LLC with separate EIN number from the IRS is best for you. Check out the Secretary of State website of your state on how to do this. Make sure you set up separate bank accounts, etc, for the LLC after you establish the LLC and after you receive the EIN from the IRS. Your bank will probably want things like articles of incorporation used to set up the LLC. You will have to file separate tax return for the LLC if it has an EIN from the IRS to satisfy the SSA. Before you do anything, you will need to set up the LLC, since the state needs to make sure you choose a unique name within that state for a business entity, and all the financial accounts should be titled with the same name.

I am not sure how you can personally profit from such a separate company without the IRS and SSA knowing about it and including that in your personal income, so I am only explaining how to set up a separate company, and not guaranteeing that will satisfy the SSA.

Here is information on how to set up an EIN with the IRS:

IRS EIN Application Online

IRS EIN online application. Get your Federal Tax ID / EIN in 60 minutes via email. Start Now!

irs.ein-federal-tax-id.com

According to the IRS, you can actually get an EIN for a sole proprietorship that is not an LLC, but I would not recommend this:

"A Sole Proprietor is one individual who owns a company that is not incorporated or registered with the state as a limited liability company (LLC) or Corporation. This includes everyone who is a freelancer, independent contractor and many business owners who don't have partners. "