tdiu How Does Starting A Business Effect My Pension?

[blackjack1]

I have been 100% for 17 years on unemployability. I have an opportunity to invest in a business which requires virtually no work and very little time. Unfortunately... my income from the business will exceed the poverty level and I'm told that my payments will be reduced to 70% level. I've thought that I might be able to structure the purchase and operation of the enterprise to reflect rental income or leasing income and thus perhaps not be subject to earned income. Does anybody have any suggestions. The VA won't make a determination until I'm actually into the soup and thus, too late.

5. What is a pension?

Pension is financial assistance to keep you above the waterline of poverty. It requires (1) honorable service at least 90 days during wartime; (2) health problems that are unrelated to service and other health problems serious enough to render you totally disabled; and (3) little or no income from any other source. Wartime service includes World War I, World War II, Korea, Vietnam, and the Persian Gulf era. Service in Panama or Grenada is not considered wartime service.

[simple fly]

you need to register the company as "sub-chapter s"

do not report any income to you.you can only be listed as high as secretary of the company.you can not be an officer.

[john999]

Talk to a CPA or Tax Lawyer and get a professional opinion before you do something based on advice from non-professionals. You can get in trouble with not only the VA but IRS and SSA if you do fancy footwork regarding the nature of your income.

[Pete53]

I believe that you can do it if you are not paid a salary. But I also agree with John you need professional advice.

Good Luck