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06-24-2009, 12:18 AM | #11 | ||
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Senior Member
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The issue is that ssi is not supposed to be for getting ahead, which buying a house in the future would be, but just enough to scrimp by. Silly in that if you already owned a house, you can keep it, but this rather forces you into purchasing something before you are ready to.
Good luck with this |
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06-24-2009, 12:09 PM | #12 | |||
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Junior Member
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Yeah .. well I think I'm going to just buy a place when I get enough of my back pay and get myself a car .. and just start a new life. Now that I've had time to think about it this is the right thing to do. I can still spend time here with my family in the daytime a lot but I really do kinda want to have a place of my own and be able to just have a refuge so I can be by myself .. or even bring my sisters and family over to watch movies n the weekends and all that kind of stuff.
Yeah .. this isn't a bad thing et all. I thank yall for your input btw. I realize it would be greedy of me to try to save and save when my grandparents have been keeping me in treatment, keeping me fed, sheltered and let me drive their car .. etc and then I start trying to save a bunch of money? Wouldn't be right to the taxpayers or especially my caretakers. So .. I'm just gonna use this backpay to find a decent lil car and a decent lil home somewhere out away from the city and just start living again. It's about time. I want to do something with myself .. heh. Just wanna start living again. I havent had any kind of life for so long because of my schizotypal personality disorder .. but I'm determined to have a life of some kind soon now that I'm approved for disability. No it won't be a normal life per-say but at least it'll be more than what I do now .. heh. ^_^ This is gonna work out great. I'm so thankful for getting approved! I feel a sense of comfort knowing I will finally have money and insurance again. I'll be going from owning zip to having my own place own car own furniture etc etc. Thank GOD for making this happen. Now its just a matter of days or maybe a couple of weeks till I get my letter of benefits and finally finish this whole lonnng grueling process!Wooho!
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07-12-2009, 01:23 PM | #13 | |||
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Junior Member
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Wish I could offer help but I'm a newbie..congrats, though, on your success and your back pay! Hope it all works out for you. Kathleen |
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07-12-2009, 05:32 PM | #14 | ||
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Member
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Just wondering if you received any pay yet. I was found fully favorable on June 24th. Also they are looking into if I qualified for SSI during this period. i sure hope so. We lived on my wife's income for over 3 years. I am also wondering when the payment 's will come.
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07-13-2009, 06:22 AM | #15 | ||
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Member
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Hoosier Daddy,
I just received my "Calculation" Letter (July 10th). And of course, I had to forward that to OPM since I have a pension. Oh, and I will receive my first payment on August 19th. But even so, OPM has to make some adjustments due to the WEP. But not as badly affected as I thought I might be. In any case, this pertains to federal employees. Anyway, I know you all are speaking of SSI. But I wanted to throw this out there. Did you know that UP TO 85% of your backpay (SSDI) is taxable depending on your income? Found that out after talking to my tax preparer. Read IRS Publication 915 for more info. From what I gather most people who receive a LOT of backpay and have an income higher than $32,000 will spread the backpay over previous years tax returns back to your disability date. Ain't life grand? Anyway, as I said, that pertains to SSDI. |
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07-13-2009, 07:09 AM | #16 | ||
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Member
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Do they take the taxes out before you get the backpay, or do you have to pay it at the end of the year??
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07-13-2009, 12:18 PM | #17 | |||
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Elder
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What is WEP and OPM???
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07-13-2009, 12:41 PM | #18 | ||
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Member
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Hoosier Daddy,
No, they do not...I asked that the other day. What most people do is to have it spread out (past returns) back to the date of your disability. So, in my case that is 4 years (from 2005 to present). Having said that you will also have to let SSA know how much you want withheld from your monthly check; 7, 10, 15 or 25%. They will send you the form or you can retrieve the form from the SSA website. I don't know of course, your financial situation but I would definitely talk with a tax preparer/CPA. Abasaki, OPM is Office of Personnel Management. WEP is Windfall Elimination Provision and applies to the folks who were under CSRS Offset. This is all in regards to federal employees...a whole different ballgame and language altogether. |
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"Thanks for this!" says: | Abbie (07-13-2009) |
07-23-2009, 12:58 PM | #19 | ||
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Junior Member
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Anyway I was thinking couldn't you just have your grandparents open another account in their names and let you put your money in it? That way it would look like you spent it? Technically you would have. Then later on your grandparents could give it back to you when you need it. It is just an idea. Well good luck. |
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06-03-2014, 06:55 PM | #20 | ||
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