What Is Considered Countable Income When Determining Your SSI Payments?
When determining how much your SSI payments will be, the Social Security Administration looks at the amount of money coming into your household on a monthly basis. If this amount exceeds the allowable limit, you will not receive SSI payments. However, even if your income does not exceed the limit, it will affect the amount of your payments. In general, the more money you make each month, the less your payments will be.
What Is Considered Income by the SSA?
While you may not be working or you may only earn a small amount at a part-time job, the SSA will look at all of the assets coming into your household in order to determine how much your SSI payments should be. For the purposes of determining your payments, the SSA counts all of the following as income:
- Earned income: net earnings you get as a result of performing work.
- Unearned income: Social Security benefits, pensions, unemployment benefits, interest income, or cash from friends or family.
- In-Kind income: food or shelter you receive for food or for less than its market value.
- Deemed income: a portion of income earned by other people in your house.
Understanding the Confusion Before You File
There are many exclusions from the above list and figuring out if you qualify for payments and what your payments will be is a difficult and confusing process. Don’t try to do it alone. Contact us today for a free consultation and let us help clear up the confusion before you file. We can help make sure your application is in good order and that you will receive all the money you are entitled to.
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