I am interested in starting a business possibly an LLC.

Asked over 1 year ago - Chicago, IL

I NEED to start a business and keep the SSDI benefit rolling in. I am willing to go offshore or out of the states to begin. But, the larger concern I have is making certain the benefits don't stop. I need to make certain that I personally don't earn more than 1000.00 the government allows each month. And would like for the business to be responsible for any earnings that are over that amount . The majority of the contracts that are offered are called corp-to-corp. How can this type of business structure be established? Please offer your suggestions.

Additional information

Your contributions are greatly appreciated. I currently receive a SSDI supplemental income totaling $2,000 dollars a month. Due to being heavily discriminated against and suffering a serious mental breakdown while employed by an international telecom company. I have read several books which involve offshore investing and banking; and would like to start a business that would allow me to keep the governmental SSDI benefits I currently receive. With an extensive I.T background that can earn a very good hourly wage on a temporary/1099 basis. But the government allows me to earn only $1000.00 without suffering a financial penalty. Therefore, a business where I am only an employee and ownership is private maybe needed. Your responses are welcome.

Attorney answers (3)

  1. Judy A. Goldstein

    Contributor Level 20

    2

    Lawyers agree

    Answered . You are asking a great deal and have not provided enough detail. The best thing you can do is to consult in person with an attorney who is familiar with business organizations and SSDI benefits. This simple Q&A forum is really no equipped to handle your matter. Good luck in your endeavors.

  2. Bruce E. Burdick

    Pro

    Contributor Level 20

    2

    Lawyers agree

    Answered . You need to see either a social security attorney or a tax attorney. Be careful, as you are proposing to defraud the US Govt. by making in excess of the limits without reporting such to the Government. You may be able to defer compensation if you are close to retirement age. Be careful and keep your comments off public forums.

    I am not your lawyer and you are not my client. Free advice here is without recourse and any reliance thereupon is... more
  3. Alexander Mchenry Memmen

    Pro

    Contributor Level 15

    Answered . What you are talking about is fraud against the government, plain and simple. The system is not set up to award benefits to people who are making a "very good income." If you start earning income, you need to report it and will not be able to (legally) hide it via an LLC.

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