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August 28, 2017
Category:
Can I Be Eligible For SSI If I Pay Rent And Car Payments From An LLC?
Hello,
I'm applying for SSI and want to know if I have a business in the form of a llc, can I pay rent money and car payment ts out of that account and still be eligible ?
Thank you ~
Hi,
I'm sorry, but I can't answer your question without a lot more information. Assuming that you're referring to eligibility for Supplemental Security Income (SSI) payments, you couldn't have resources of more than $2,000 excluding the value of a home and car. So, if the value of your ownership interest in the LLC exceeds $2,000, you likely wouldn't qualify for SSI regardless of anything else. Social Security's website has a screening tool for SSI, so you might want to try starting there: https://www.ssa.gov/ssi/.
Best, Jerry