jordy
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Post by jordy on Sept 19, 2020 3:34:53 GMT -5
Short answer: grants would not be an asset for you to use as income. A grant is specified and use outside of those specifications is not allowed (legally). So no, it could not count as an asset since it is not for personal use and cannot go towards anything else except the business. Income, accounts, vehicles, houses, etc... are assets since they can be sold and exchanged. A grant can’t (similar to if you got a grant to adapt housing or to get new equipment). The business shouldn’t have enough worth initially to impact benefits or utilizing other programs. Financial ratios play into that as well as appraisals, interest, who is backing it and supporting it, etc... Maybe a financial advisor or counselor would be a good idea? They have access to information we can’t always find regarding financial assistance. Ticket to work would be great for starting out. You keep benefits and can make extra income. You’re not going to draw in a lot of income at 1st. This is one of the major warnings people are given when starting a business. Because of this, things would be within the limits (most likely). Ticket to work won’t end if you don’t make enough. I have a family member who worked within the limits for years and never had an issue. If they made even a small amount over... then they lost benefits for that month. Rules may be different for SSI recipients as I can only speak on SSD. I haven’t used ticket to work since I’m going back to my field and can’t earn within the limits, but I still have all the paperwork about the program that I can look through and send specifics your way if that would help. Most importantly, These programs are in place to support... even if they still pretty much suck, at least it’s something. I would use anything you possibly can to start the process. Don’t focus so much on making more than those limits right off the bat. Even if you start to make over the limits, scale back your business until you are certain you have a plan to afford care and living expenses. But, this is awhile down the road. Gotta take small steps 1st. There may be local programs that agencies near you know about to help afford services as well. You’re just starting out, so it’s all about research and planning and not jumping ahead. I know this is difficult to avoid because of the specific situations you need to make sure are handled, but jumping too far ahead can seriously harm the planning and implementation stage of things. Wishing you all the best! For context: My family owns a successful small business and I am starting a 5 year plan to start my own that’s unrelated to the family business. I’m not on here much since life got busy, but if I find something I think will help I will send the info to you as well . So I had an experience 5 years ago, where I was organizing a cross country walk in my powerchair. I got a local business conglomerate interested in sponsoring the event with a 500k grant and making it big deal for disability visibility and rights, also to raise money for research towards a cure for SMA. They gave me 2 tasks before they wrote the grant: 1) I must get my doctor to give me the ok. [easily done] 2) I must get written confirmation that the grant would not affect my security of living. [an impossible task I found after several months of talking to SSI agents, WICs, OVR, SSA staff, and even the mayor's office. Best I got was a verbal "It might be considered a gift, but I don't think it will be. Just do it and see what happens".] I was once again defeated by the system. Why would a business grant be different, because a business is your asset and a grant to a business increases the value of your business? I still don't see how TtW helps anything, please explain! For one year you don't count income but you can't save it, unless you put it into an ABLE account, then they pull the rug and income caps even lower than with SSI. You can't get SSDI unless you have worked in the past or have an old retired parent. TtW could maybe get you SSDI if that work counts. [SSI]800-[with max income]1400/mo. to [SSDI]1200-[with max income]2400. But you just now actually take more from the government, you didn't grow more independent. And now you don't qualify for low income housing so a 400/mo. rent/util is 1800-3000/mo. But the amount leaves you better doing nothing instead of making maybe 400-1000 more per month and living in constant fear of losing everything... If they really wanted to "support" income and savings caps for PWDs would be made unconstitutional! I totally agree research is key, but I continue to not find entities that know the whole picture. I really appreciate any contacts and resources! Sorry for the long reply. This is a perfect example of what a financial advisor/counselor can help with. They had no idea what they were talking about and instead of admitting to that they do not know, they decided to give you a bunch of BS and uncertainty. That must have been frustrating! That grant wouldn’t have been able to be counted towards your SSI limit since the funds can’t be put towards anything besides what the grant is for. It can’t be sold, exchanged, or used outside of the specifications. Therefore, it cannot be used as “income” or an asset. The reason they count assets is because you can sell them or cash them out to fund living expenses and such. And It’s absolutely not a gift. A gift would be considered income and if put into an account, an asset. Grant vs gift are two very different things financially. I’m sorry you ended up dealing with people who couldn’t give you an answer or point you in the right direction to get one. Yes. The business would be an asset, but again it would not have enough value for this to be a concern just starting out. However, if you have other people involved that partner with you, that could completely change the situation! If you’re growing it on your own, you’re going to struggle at 1st. This goes for any business which is why people are warned that the income they will get at first may barely cover costs for the business and it’s not uncommon for people to gain debt initially. It’s not for a lack of planning or budgeting, it’s just how it is depending on markets and other factors. I am very sorry if this is coming off as blunt, but I’m trying to give you the most realistic view on this because I wouldn’t want you to end up in a bad situation. Honestly wouldn’t wish that sort of trouble on anyone because it sucks. We have seen so many new businesses that we try to work with go under for some the same things I’m cautioning you to be careful on. It’s advice coming from someone who helps manage the business and business relations. I’m also the one that gets called in to “put out fires“ and fix things related to business decisions. Fixing things after the fact is not always possible and I hope some of this advice will help you avoid situations like that. If you are earning an income that is still within the limits (it’s fairly easy to make sure you stay under the limit which would remove the fear of losing benefits) for over a year, you can keep your disability benefits. You can go through ticket to work or just do it on your own. Ticket to work puts of medical reviews and has some other fringe benefits that honestly wouldn’t do much for your situation besides keeping benefits which would happen with either choice. The program may end after a year, but your benefits don’t just stop even if your earning the most you can while keeping benefits. I realize it’s not a lot of extra income. That’s where, unfortunately, the system is shit and it’s a rock and a hard place situation. At the same time, every dollar counts and if you’re just starting out that limit should be fine for a new business. You still have to gain a client base and figure out what works best to advertise and spread the word about your business. Earning what you can from the extra income of the new business while not being stressed about trying to get care (Because you would still have benefits) would be the ideal situation for you and a new business. It gives you extra time to plan more and figure things out in the beginning. Good news is... There are ways to have things work out in your benefit and act as a safety net. Keeping your benefits *if* you run into opposition (as long as you don’t earn over the amount) would be extremely easy And is usually as simple as drs notes that explain this is what you can do within your capabilities at the moment. Encourage them to stress the point in the letter that you’re working at your limit at the moment because you need to put your needs 1st (until your business is stable enough to support everything). There are loopholes that are used all the time on a case by case basis. A good case manager can help immensely with coordinating all of this to help take some stress off of you. I agree that the system sucks. Try not to cross out every possible solution without trying it or at least exploring it as a possibility in depth, though. It may work out, it may not. It’s going to take a lot of work, trial and error, and stress on your part to make your goal a reality. Look at it as prep for what being a new business owner can be like. You’ll be investing a lot more than just money and time. Specific advice from a professional who works with business owners on financial and legal topics will give you the most direct advice. And don’t stop at consulting one professional! Shop around a bit. They don’t all know the same information and they all have different background experience. It doesn’t have to be expensive either. There are some that will be willing to work with you based on your situation and goals. Try this: sign up for free financial counseling through Yellow Ribbon Network. www.yellowribbonnetwork.org/afcpecovid19 I recommend Shari Evans. This is her business website, www.itithefirst.com/ , but if you want the free service (for people who are disabled or impacted by COVID or veterans), you’ll have to apply through the Network 1st. And if you want to try to see if Shari specifically can help, send her an email and explain that you applied through the Network and someone you know recommended her. She might be able to accept your case. At this point I think your best bet would be to get legal and financial counseling on this. Keep an open mind! There are ways around things... even if it’s not easy or ideal, it can still get you to where you want to be in the end. I wish I knew of specific resources close to you, but I’m only familiar with NY and FL so I can’t send you direct resources that I can personally vouch for besides what I linked above. You’ll get where you want to be even if you need to take a different path (or multiple ones!) to end up there. Don’t give up and take it one step at a time.
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brinzerdecalli
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Post by brinzerdecalli on Sept 19, 2020 10:20:37 GMT -5
I totally agree research is key, but I continue to not find entities that know the whole picture. I really appreciate any contacts and resources! Specific advice from a professional who works with business owners on financial and legal topics will give you the most direct advice. And don’t stop at consulting one professional! Shop around a bit. They don’t all know the same information and they all have different background experience. It doesn’t have to be expensive either. There are some that will be willing to work with you based on your situation and goals. Try this: sign up for free financial counseling through Yellow Ribbon Network. www.yellowribbonnetwork.org/afcpecovid19 I recommend Shari Evans. This is her business website, www.itithefirst.com/ , but if you want the free service (for people who are disabled or impacted by COVID or veterans), you’ll have to apply through the Network 1st. And if you want to try to see if Shari specifically can help, send her an email and explain that you applied through the Network and someone you know recommended her. She might be able to accept your case. At this point I think your best bet would be to get legal and financial counseling on this. Keep an open mind! There are ways around things... even if it’s not easy or ideal, it can still get you to where you want to be in the end. I wish I knew of specific resources close to you, but I’m only familiar with NY and FL so I can’t send you direct resources that I can personally vouch for besides what I linked above. You’ll get where you want to be even if you need to take a different path (or multiple ones!) to end up there. Don’t give up and take it one step at a time. Thanks so much for the link to the legal and financial adviser! I just signed up; I hope they get back to me soon. I'll share what I find out!
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brinzerdecalli
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Post by brinzerdecalli on Sept 19, 2020 11:51:49 GMT -5
I have one but you can only put in 15k/year anything and 12k/year income and any funds can't be used to build a business, just medical related expenses. It’s $27k a year if you don’t have an employer sponsored retirement account. And it’s not just for medical expenses, it’s for basically any living expense. And you can still use it for non-disability expenses, you will just need to pay taxes on it. I don’t see why this wouldn’t work for you Right, as I said: 15k/year anything and 12k/year income = 27k or is there something I am missing that the 12k does not have to come from reported income? Also this is a tally of only one way transactions, so spending funds does not reduce the total for the year. Right? Yeah education, housing, transportation, employment training and support, assistive technology, personal support services, health prevention and wellness, financial management, administrative services, legal fees, expenses for oversight and monitoring and funeral and burial expenses. But not any business/project expenses, right? "employment training and support" I was told didn't mean any business expense... :/ And I was also told "assistive technology" does not count for R&D costs on something that doesn't really exist yet... And unfortunately a lot of the things I would want to do would require more from crowd funding than 15k once a year. If you do use it for anything else you have to report it as income or a gift right? So you pay taxes after the initial 10% penalty and it can screw up medicaid eligability. Or am I wrong on that? I'm not trying to be difficult but these are the questions I need to ask to figure out this whole thing. Nobody [from here, or other conversations] has really said they have been through the same challenge and it was not a problem, so I need to have all the information I can, before I travel an unmarked path! Everyone I know who was able to be successful in building a business either could get away with almost no personal care, or lived with their parents or a SO and/or had them handle the money. I don't have any template here... Do you [or anyone reading] know someone I could talk to who has done what I am trying with the same limitations and challenges?! Could you ask them if I could pick their brain? I even know a guy who has a really successful marketing business in his dad's name, and is unable to figure out a safe way to take ownership without losing his care, and he is paying money left, right, and center for legal and financial counseling, to no avail.
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brinzerdecalli
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I hope to encounter some interesting and uniquely minded people.
Posts: 217
Gender: Male
Dev Status: Disabled Male
Relationship Status: Single
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Post by brinzerdecalli on Sept 19, 2020 11:53:08 GMT -5
I just ask everyone reading this to please understand that this is not just a simple problem with a readily available answer... It's a great source of dread and resignation for me and many people with disabilities, so please be understanding of the stress it causes and don't take my frustration personally. I appreciate everyone participating in this brainstorm, and I apologize if I act as an advocate for the devil, but it's a demonized life I want to live, or at least it seems that way with how many chains are wrapped around it.
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jordy
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Post by jordy on Sept 19, 2020 16:03:32 GMT -5
Specific advice from a professional who works with business owners on financial and legal topics will give you the most direct advice. And don’t stop at consulting one professional! Shop around a bit. They don’t all know the same information and they all have different background experience. It doesn’t have to be expensive either. There are some that will be willing to work with you based on your situation and goals. Try this: sign up for free financial counseling through Yellow Ribbon Network. www.yellowribbonnetwork.org/afcpecovid19 I recommend Shari Evans. This is her business website, www.itithefirst.com/ , but if you want the free service (for people who are disabled or impacted by COVID or veterans), you’ll have to apply through the Network 1st. And if you want to try to see if Shari specifically can help, send her an email and explain that you applied through the Network and someone you know recommended her. She might be able to accept your case. At this point I think your best bet would be to get legal and financial counseling on this. Keep an open mind! There are ways around things... even if it’s not easy or ideal, it can still get you to where you want to be in the end. I wish I knew of specific resources close to you, but I’m only familiar with NY and FL so I can’t send you direct resources that I can personally vouch for besides what I linked above. You’ll get where you want to be even if you need to take a different path (or multiple ones!) to end up there. Don’t give up and take it one step at a time. Thanks so much for the link to the legal and financial adviser! I just signed up; I hope they get back to me soon. I'll share what I find out! They’re usually pretty fast! Just make sure to check your messages on that site since they don’t always email you that you have a reply. Hope it helps and definitely post an update.
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brinzerdecalli
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I hope to encounter some interesting and uniquely minded people.
Posts: 217
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Post by brinzerdecalli on Sept 29, 2020 15:55:44 GMT -5
Thanks so much for the link to the legal and financial adviser! I just signed up; I hope they get back to me soon. I'll share what I find out! They’re usually pretty fast! Just make sure to check your messages on that site since they don’t always email you that you have a reply. Hope it helps and definitely post an update. I heard back from from the contact that was assigned to me through Yellow Ribbon. She presented no new information and didn't even know what 1619b was. Her suggestion was to call a homecare/nursing agency and ask them...
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Post by matisse on Sept 29, 2020 16:32:35 GMT -5
I have no family I trust to hold my money or take care of me if something goes wrong with my Medicaid eligibility, and no friends who feel comfortable with holding money like that [though I don't understand their reservation but respect it] or have the time to care for me as I fight for my independence. Without these options, you may just be stuck. Can you encroach on any of them just a little? Like incorporating a business where you own no shares but have all of the power to run it? This would prevent others from taking your money, but they would have to deal with the tax implications of owning shares.
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Post by Green on Sept 29, 2020 21:49:31 GMT -5
Did you try a lawyer yet?
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brinzerdecalli
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I hope to encounter some interesting and uniquely minded people.
Posts: 217
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Post by brinzerdecalli on Sept 30, 2020 12:13:41 GMT -5
Did you try a lawyer yet? No CPAs or tax attorneys I know of have this specialty or offers free counseling. If you have any contacts to some please do let me know! I have spoken with several free legal clinics in the area asking about my challenge but have repeatedly been told that they don't have tax attorneys on staff.
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Post by Green on Sept 30, 2020 13:15:11 GMT -5
I don't mean tax attorneys, I'm talking about disability rights attorneys. I don't know any groups in your state, but I know they are around. They have helped me get things before. Sure it might seem that a tax attorney would be best, but disability rights lawyers know more about the specific laws and the legal workarounds.
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Post by matisse on Sept 30, 2020 15:18:19 GMT -5
I don't mean tax attorneys, I'm talking about disability rights attorneys. I don't know any groups in your state, but I know they are around. They have helped me get things before. Sure it might seem that a tax attorney would be best, but disability rights lawyers know more about the specific laws and the legal workarounds. Yeah, it would be disability-focused attorneys who could help with the fundamental issues. CPAs and tax attorneys can help with implementation of the plan, but formulating the plan is outside their area.
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brinzerdecalli
Full Member
I hope to encounter some interesting and uniquely minded people.
Posts: 217
Gender: Male
Dev Status: Disabled Male
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Post by brinzerdecalli on Sept 30, 2020 15:37:45 GMT -5
I'm just saying what Legal Clinic for the Disabled told me, when I last asked about this question. Do either of you have a contact matisse or Green that you could give me?
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Post by matisse on Sept 30, 2020 16:36:09 GMT -5
I'm just saying what Legal Clinic for the Disabled told me, when I last asked about this question. Do either of you have a contact matisse or Green that you could give me? Since they pointed to tax attorneys, that tells me they didn't understand your issue. The solution to your problem is not in the tax law. You should try again with them and others. You need someone knowledgeable about maintaining lifelong disability Medicaid eligibility. Sorry, no contacts.
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Post by someonerandom on Sept 30, 2020 23:08:53 GMT -5
In addition to what Matisse said, you could also try googling and see what comes up. Make a few calls. A few years ago I looked up and found a pro bono disability lawyer in my city who helped me with some food stamp stuff. I just set an appointment and went to her office.
Some of my clients also have pro bono lawyers who are helping them with SSI/SSDI appeals. One law group is in Michigan, one is in Texas, and we are in NC. I think you’d want one who is knowledgeable about Pennsylvania law since you have some unique Medicaid rules in your state. I don’t personally deal with lawyers so couldn’t give you specific recommendations.
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brinzerdecalli
Full Member
I hope to encounter some interesting and uniquely minded people.
Posts: 217
Gender: Male
Dev Status: Disabled Male
Relationship Status: Single
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Post by brinzerdecalli on Oct 9, 2020 11:38:55 GMT -5
Hey all, Here's an update: After talking to Shari Evans she recommended I get a mentor through the Small Business Administration because she also believes what I need is help making an entity that is legally separate from my assets.
I met with a counselor and he is looking into it and is trying to find me a legal professional who knows about asset management, tax law, and is willing to read up on PA Medicaid regulations.
I'll keep you all posted...
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