Thought of the Day 561

August 11, 2015

Before applying the Social Security rules relating to unearned income (such as interest or dividends) and earned income (such as wages), all Supplemental Security Income (SSI) beneficiaries are allowed to disregard their first $20 of monthly income from any source.  In addition to this initial deduction, beneficiaries who are working can ignore their next $65 of earned income.  In addition to these  income disregards, a beneficiary who is working may deduct from his or her monthly earned income figure any impairment-related work expenses like specialized transportation costs and durable medical equipment required for her job.  It does not matter if the beneficiary also needs those services or supplies to help him or her outside of work as well.  These expenses are deducted from the beneficiary’s income on a dollar-for-dollar basis.