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Can a 100% Disabled Veteran Own a Business?

July 7, 2018

If you are United States Veteran who was injured or had an ailment appear later that is service related, you certainly may be entitled to disability benefits. There are many factors that go into how these benefits are diagnosed and later distributed. You can read about that here.

For those who are fortunate to already be receiving disability benefits due to a service-related injury or ailment, you may wonder what you are able to still do. After all, being a productive member of society is important for someone’s mental health. And unfortunately for many, the payments that they receive for disability may not be enough to support the lifestyle that they intend to lead.

Can a 100% Disabled Veteran Own a Business?

What about doing something on your own? Can a 100% disabled veteran own a business? Well, it all comes down to your individual case, which is related to your condition and what you are currently receiving in terms of benefits.

Specifically, if your rating is 100% specified for a single service-related condition using the VA’s Schedule of Ratings, you likely have no limitations and could even own your own business. The percentage of your disability is related to your ability to earn an income, so it is possible to earn an outside income if you have the right combination. In other words, you are not seen as 100% disabled, but 100% unable to earn an income – which opens up other arenas for you to attempt to earn an income.

In other cases, you may be able to earn an income and possibly have your own business, but you may not be able to work full-time or make an amount that is above the poverty level, which is approximately $15,000 per year for a single household currently. In these cases, if you earn above this amount, an equal amount is deducted from the compensation pay.

For many, their own business could mean something simple, so both scenarios would potentially be fine. But if a veteran receiving benefits is looking to start a highly profitable business, it is obviously going to matter greatly which scenario applies.

And it’s important to note, when answering the question “can a 100% disabled veteran own a business?” there aren’t only two possible answers. There are caveats for specific cases. Your best bet is to call the U.S. Department of Veterans Affairs at 1-844-698-2311.

If you or someone you know needs help obtaining veterans benefits, please don’t hesitate to contact us at Tabak Law. We have many years of experience getting our amazing veterans the benefits they deserve.

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