Using Supplemental Security Income for the self-employed
Terry Katz & Associates | July 15, 2016 | Last modified on October 17th, 2018 | Social Security Disability
Those who are disabled or blind and fall under certain income criteria are eligible for the Social Security Administration’s Supplemental Security Income program. The program is also available for those who have not paid into the Social Security Disability Insurance program, as well as children who are disabled. Social Security has a program called the “Plan for Achieving Self-Support,” or PASS.
The PASS program will help those who currently collect Supplemental Security Income payments to allocate some of their earnings or payments to help cover costs associated with self-employment. This may include but is not limited to transportation back and forth from employment, books, supplies, tuition and fees associated with training or school, child care, employment services including coaching and resume writing, supplies to start your new business and equipment necessary for your new employment such as safety equipment, technology, tools and equipment, and even uniforms.
Once people have a plan in mind, they must submit their plan to Social Security for approval. Among the things the plan should include are specific goals, the steps needed to achieve these goals, a list and expected costs for services and items people will need, a financial plan including how much money will be set aside per month to pay for these costs associated with self-employment.
The Social Security disability benefits programs we have are geared to provide financial assistance to those suffering from disabilities such as mental conditions, physical disabilities, and illnesses that are expected to last at least a year or end in death. For those who meet the conditions above for Supplemental Security Income, the PASS program may help get victims back into the workforce.
Source: Social Security Administration, “Working While Disabled – A Guide to Plans for Achieving Self-Support,” Accessed on July 11, 2016