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FloridaCPA1, Accountant
Category: Finance
Satisfied Customers: 42
Experience:  Certified Public Accountant (CPA)
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# What the max income allowed before a person can quailify for

### Resolved Question:

What the max income allowed before a person can quailify for SSI ?
Submitted: 3 years ago.
Category: Finance
Expert:  FloridaCPA1 replied 3 years ago.
Per the SSA, the monthly maximum Federal amounts for 2010 are \$674 for an eligible individual and \$1,011 for an eligible individual with an eligible spouse. (see http://www.ssa.gov/OACT/COLA/SSI.html)

This \$674 per month is reduced by "countable income" which is defined as total income less items the SSA explicitly excludes.

Total income is defined as wages, self-employment income, other SSA benefits, pensions, disability payments, unemployment benefits, interest income, assistance from family members, food or shelter received for less than fair market value, and if you live with a parent or spouse part of their income which is "deemed" to be yours.

Excluded from "total income" to arrive at the countable income figure is the first \$20 of any income received, the first \$65 of earned income and 1/2 of the rest of earned income, food stamp value, income tax refunds, tuition assistance, and other items such as energy credits. For a full list please see http://www.ssa.gov/ssi/text-income-ussi.htm

For example, if your wife earned \$500 per month and had no other sources of income, her "countable income" would be:

(500-65)*.5 = \$217.50

Therefore the net benefit would be \$674 - 217.50 = \$456.50

In general, if one had nothing except for employment earnings for income, the maximum income allowable before eroding the SSI benefit would be approximately \$1,413 (half of 1413 less the 65 dollar exclusion would be equal to the SSI benefit per month of \$674).

However, income is not the only requirement for applying for SSI. Firstly, you have to meet the requirement that you are:

a) aged (65 or older),
b) blind (either 20/200 or worse in better eye even with corrective lenses or a visual field angle of less than 20 degrees in the better eye or
c) disabled (inability to do any substantial gainful activity, disability can be expected to result in death, or has lasted or expects to last for greater than or equal to 12 months)

to qualify for SSI.

If you pass any of these tests, you must also pass the following tests to qualify for SSI:

a) You must have limited income (generally the greater the income you have, the more reduced your SSI benefit will be)
b) You must have limited resources (resources includes assets such as cash, investments, land, vehicles, personal property and life insurance). The limit is \$2,000 for an individual and \$3,000 for a couple.
c) You must be a US Citizen or National or certain category of alien.
d) You must be a resident of one of the 50 states, DC or the Northern Mariana Islands,
e) You must not be absent from the country for more than 30 consecutive days and also must not be absent from the country for more than one calendar month in a year.

There are other more esoteric requirements but above is the general answer to your question. For further information please review the following literature:

http://www.ssa.gov/ssi/text-eligibility-ussi.html

FloridaCPA1, Accountant
Category: Finance
Satisfied Customers: 42
Experience: Certified Public Accountant (CPA)

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