When you own a business, everything changes. You are responsible for paying your employees on time, you are responsible for keeping the business up and running, and you are responsible for paying yourself. If something happens and you become disabled or your disability worsens to the point that you are no longer able to work, you might need to apply for Social Security disability insurance (SSDI).
Working While Applying for Social Security in New Hampshire
The Social Security Administration (SSA) has special rules in place for people who work while applying for SSDI. They take into consideration how much you make when deciding your ability to continue working and earning a living.
In general, if you earn more than $1,070 each month (or $1,800 each month if you are blind) you will be considered able to engage in “substantial gainful activity” and therefore do not need SSDI.
As a business owner, this is not always representative of your ability to work. You must continue to work as much as you can while applying for SSDI in New Hampshire. Even when you are unable to show up during regular business hours, you still earn an income because the business responsibilities fall on your shoulders.
Special Considerations for Business Owners When Applying for SSDI
The SSA recognizes that the job of a business owner is unlike any other type of job. To determine whether you qualify to receive SSDI, the SSA will go through three tests to determine whether your business is a substantial gainful activity. These include:
- Providing services to the business that allow you to receive a significant income from it.
- Performing work that compares to the same types of work done by people without disabilities.
- Performing work that is valued at $1,040 each month (this is based on the value to the business, and how much it saves you from having to pay an employee to do the job).
The rules for business owners are not always clear and can make applying for SSDI in New Hampshire a chore. For help, we encourage you to download our free guide with the top questions people ask about applying for Social Security disability insurance. This will give you a better idea of what to expect during the process and how the SSA makes its decision.