Can You Qualify For Ssi For Having No Job Or Money

Supplemental Security Income, or SSI, can provide much-needed income for disabled individuals with express resources and earnings. As of this writing, federal SSI benefits tin provide a maximum of $733 for an individual or $one,100 for a married couple, plus most states add a supplemental payment. Still, if you earn any income, information technology can drastically reduce or eliminate your ability to qualify for benefits. Here'due south what you need to know virtually the SSI earnings limits, and how yours tin affect benefit eligibility.

How to qualify for SSI

In a nutshell, eligibility for SSI depends on four chief factors – disability, resources, income, and citizenship.

• Disability: For SSI qualification, you can meet this requirement by demonstrating a disability that makes you unable to work, or if you're blind or over 65.
• Resources: Other than your primary residence and a few other exceptions, your total resources (things y'all own) must be less than $2,000 for individuals or $iii,000 for couples. This includes cash, bank accounts, other personal belongings, and anything else that could potentially exist converted to cash.
• Income: SSI is designed for individuals with petty or no income, so any income you receive can affect your ability to collect SSI benefits. More on this in a fleck.
• Citizenship: SSI recipients must be U.S. Citizens or qualifies aliens. Qualified aliens must also meet a condition that allows such individuals to collect SSI.

This is the short version of these requirements, and there is more to each ane than is mentioned here. If you lot're interested, here'south a thorough discussion of the eligibility requirements for SSI benefits.

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How income affects benefits

The event of your income on SSI eligibility depends on the source of that income and how much you make.

If the income you receive is from working, the first $65 per calendar month is exempt from SSI calculations, and if the income is from any source other than work (unearned income), such as workers' compensation, Social Security, unemployment, Veterans Diplomacy, and coin you're given by friends and family unit, only the outset $twenty per month is exempt.

Beyond these exemption amounts, whatever earned income will reduce your SSI benefits past $ane for every $2 yous receive, and unearned income volition reduce your eligibility dollar-for-dollar.  For case, if you lot earn $500 this month from a chore, $65 of it will not count. The remaining $435 volition reduce your SSI benefits by half of this amount, or $217.fifty.

So, what's the maximum income to qualify for SSI?

As you can see from the previous section, it depends where the income comes from. And, it depends whether you receive benefits as an private or a couple.

If your income is from working, multiply your benefit corporeality past two, and add $65. This is the threshold where your SSI benefits would disappear completely. If your income is from some other source, do the same calculation, simply add $20. As a general formula:

So, if y'all're an individual and your SSI benefit is $733 per month, your do good will get to zilch if your income is $1531 or higher if the income is from working.

Keep in mind that if your income is anywhere almost the maximum, yous volition even so be eligible for SSI benefits but the corporeality yous receive will be very small. In the above instance, if you earned $1,400 in a month, you would technically all the same be eligible for benefits, merely you would receive just $65.50.

The maximum income to qualify for SSI also depends on what land you live in. Every bit I mentioned earlier, most states give supplemental payments to SSI beneficiaries -- and those that do have supplements ranging from about $x to $700, and many of these depend on the living situation of the recipient. A state supplement would increase the maximum income a recipient could have while yet qualifying for benefits.

Other income exclusions

In add-on to the basic income exclusions we've already discussed, at that place are a few special exclusions.

• If you're a student under historic period 22, up to $1,850 of gross income per calendar month (up to $vii,180 for calendar year 2016) tin be excluded.
• If you lot're disabled, any out-of-pocket expenses you pay for items you need in lodge to work can be excluded from income. For example, if you pay for car modifications that help you go to and from work, this toll tin be excluded from earned income.
• If you're blind, any money you spend to be able to work (such as transportation) can exist excluded from your earned income for SSI purposes.

The bottom line

To sum information technology up, it is still possible to collect SSI benefits if you receive other income, so don't let this fact prevent you from applying. Withal, the verbal amount of income yous can earn and still receive some SSI benefits depends on a few factors -- such as your marital status, what country yous live in, your life state of affairs (pupil, blind, and and so on), and the source of the income in question.

Source: https://www.fool.com/retirement/2016/04/26/what-is-the-maximum-income-to-qualify-for-ssi.aspx

Posted by: jonesonve1954.blogspot.com

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