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  • 14 Questions about VA Disability Compensation Benefits Claims

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    When a Veteran starts considering whether or not to file a VA Disability Claim, there are a lot of questions that he or she tends to ask. Over the last 10 years, the following are the 14 most common basic questions I am asked about ...
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  • Most Common VA Disabilities Claimed for Compensation:   

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  • Can a 100 percent Disabled Veteran Work and Earn an Income?

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    You’ve just been rated 100% disabled by the Veterans Affairs. After the excitement of finally having the rating you deserve wears off, you start asking questions. One of the first questions that you might ask is this: It’s a legitimate question – rare is the Veteran that finds themselves sitting on the couch eating bon-bons … Continue reading

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Question

I was granted 70% disability (PTSD) with 100% TDIU a couple years ago. I received a rather nice lump sum and recently helped my brother to start his septic business by providing some cash for him to purchase his truck. Even though it is registered as a Single Entity LLC I understand from what I have read that the profits (if any) are distributed equally between all members.

I thought, since I wasn't working that it would not be a problems but from what I have read so far in this forum, it seems that there is a possibility to exceed the federal poverty level. I don't want to jeopardize my TDIU as even with medication and counseling I still have problems sleeping and keeping focused.

If an LLC would cause a problem for my benefits, would it be viewed differently if my brother elected to have his LLC taxed as a C Corporation in which case any income would be regarded as dividends?

As a last resort, I suppose I could convert the investment into a loan to the LLC but I really hate to do that because I don't trust that congress might change VA laws and I suddenly find myself with no income.

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2 answers to this question

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To avoid taxes. consider the monies youy gave as a loan to the LLC and you are paying yourself back.

You may want to discuss with a CPA also.

We do it all the time.

J

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I think the key is to not do anything that would generate a 1099.

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