Owner is selling his business of 40 years. Has bad diabetic foot issues, including neuropathy and persistent bone infection and collapse of bone structure in the foot making it too difficult to continue in the business. Would selling the business and the associated spike in income/assets make him ineligible for disability? Any insight appreciated!
So long as the income earned is not for work performed then the sale of the business should not be an issue. There may be some explanation necessary since this is not the usual fact situation for most people.
answers to questions are for general purposes only and do not establish an attorney-client relationship.
As long as Owner has paid into the Social Security system he can liquidate his business and file but he cannot continue to collect income from business after shutting it down.
This response is meant to be information only and should not be considered to be legal advice. This information is not meant and should not be construed to be the formation of an attorney client relationship. I practice Virginia Workers compensation law and Social Security Disability law.
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