@Bulldogsixgolf said: @KollectorKing I am a coin dealer on Social security (SSDI). you can't do large scale (like you are doing now) but you can continue to have a small income. current max for a business owner is around $1,000 in profit. Profit being the key word. SSDI does not have to be permanent. if you recover you could start up again. My suggestion is this. Keep some stock for the best case scenario and sell what you need to.
I think the earning limit is around $16,000 depending on age... lose 1 buck for every 3 you make after hitting limit
Self employed puts in the whole SS tax amount...... 15.30% each year ,so fight on till you get disability
If you think you might apply for Social Security Disability, DO SO IMMEDIATELY, fill out the initial claim IMMEDIATELY - and then go through the business of strengthening the paperwork/ building evidence for your claim.
If you finally get approved, which could easily take one or two years, Social Security will pay you retroactively to the date of your initial claim. Sometimes this back payment can exceed $40,000.
Almost everybody seems to be turned down at least once, and then you appeal the initial decision.
You really need to have a physician who will "go to bat for you" in this process. Sometimes obtaining a lawyer who works on a contingency fee basis helps too, but not as much as a physician who is willing to state in writing (at length) that you qualify.
FWIW, I am just a retiree and am NOT on Social Security disability. But I have knowledge of several persons who are beneficiaries. I know several people who should be, but they can't seem to turn the key. It seems much harder to get approved in certain states than in others.
Sorry to hear this smitty. Hope your health recovers and you can get back to doing what you love. Enjoyed doing business with you when you had your shop in canandaigua. Best of luck.
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Many successful BST transactions with dozens of board members, references on request.
If it is heart issues you go to the head of the class and you shouldn't get jerked around much. Pretty much figure you will get rejected first time.
Source: I have heart issues.
Yep, life sucks that way. They also want you to cash in your life insurance policies before you can get on SSDI. How stupid is that? Those policies are for our kids to bury us, my wife and I will never see any of that money. I told them that if I did cash them in, wouldn't we have to report the income to you anyway? She says, "well, yes". Well than, until we do and since we're not ever going to, why are you holding it against us? My wife is on a high level of oxygen due to cigarettes. She will eventually collapse and die on one of her trips to and from the kitchen/bathroom. So much for her ever qualifying to get on SSDI.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
So sorry to hear you have to close your beloved coin shop....your health is more important. Maybe you could figure a way to do your shop online only. Then you would have more healing time.
Comments
Meanwhile, there's a Stack's & Bowers auction going on... Just thought I’d toss that in here. You know it’s in our blood.
You know the love !
``https://ebay.us/m/KxolR5
I have no idea what health challenges you are dealing with but hope you do thorough research, as health is wealth! I know many people with health issues and it seems like the doctor intensive approach as well as mainstream healthcare and diet are not the way to go. https://www.lewrockwell.com/2017/11/no_author/doctor-explains-what-happens-to-the-human-body-when-it-goes-into-ketosis-ketogenic-diet/
I think the earning limit is around $16,000 depending on age... lose 1 buck for every 3 you make after hitting limit
Self employed puts in the whole SS tax amount...... 15.30% each year ,so fight on till you get disability
Best of good health ..
Sorry to hear this. Hope your health improves.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
My observations FWIW -
If you think you might apply for Social Security Disability, DO SO IMMEDIATELY, fill out the initial claim IMMEDIATELY - and then go through the business of strengthening the paperwork/ building evidence for your claim.
If you finally get approved, which could easily take one or two years, Social Security will pay you retroactively to the date of your initial claim. Sometimes this back payment can exceed $40,000.
Almost everybody seems to be turned down at least once, and then you appeal the initial decision.
You really need to have a physician who will "go to bat for you" in this process. Sometimes obtaining a lawyer who works on a contingency fee basis helps too, but not as much as a physician who is willing to state in writing (at length) that you qualify.
FWIW, I am just a retiree and am NOT on Social Security disability. But I have knowledge of several persons who are beneficiaries. I know several people who should be, but they can't seem to turn the key. It seems much harder to get approved in certain states than in others.
Sorry to read about the closing of your shop.
Sorry to hear this smitty. Hope your health recovers and you can get back to doing what you love. Enjoyed doing business with you when you had your shop in canandaigua. Best of luck.
Many successful BST transactions with dozens of board members, references on request.
Keep trying to find a buyer. There's still money in being in the coin business.
If it is heart issues you go to the head of the class and you shouldn't get jerked around much. Pretty much figure you will get rejected first time.
Source: I have heart issues.
Yep, life sucks that way. They also want you to cash in your life insurance policies before you can get on SSDI. How stupid is that? Those policies are for our kids to bury us, my wife and I will never see any of that money. I told them that if I did cash them in, wouldn't we have to report the income to you anyway? She says, "well, yes". Well than, until we do and since we're not ever going to, why are you holding it against us? My wife is on a high level of oxygen due to cigarettes. She will eventually collapse and die on one of her trips to and from the kitchen/bathroom. So much for her ever qualifying to get on SSDI.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
So very sorry to hear this.
Sending well wishes your way.
Stay positive and good things will happen for you.
Peace...
So sorry to hear you have to close your beloved coin shop....your health is more important. Maybe you could figure a way to do your shop online only. Then you would have more healing time.
Turn those buy now items into auctions. You can clear it out in a few weeks.
``https://ebay.us/m/KxolR5
Nice baseball card collection ... throw it up for heritage auction ......not on ebay