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charlesedward

Business Entity

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I am a disabled vet and i recieve a stipend and medical care from VA, however i want to start a purchase, rehab, and sell

real estate company to hire and train people in this area. I do not know what business entity to use so that i do not compromise

my medical care and stipend. Hope someone can help.Thanks ;)

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I'm not a CPA or Attorney and in no way am I offering you legal or financial advice.

 

That being said though...

 

A) I'd first recommend that you contact a competent CPA and explain your situation.

 

B) If you have a close relative (niece, nephew, son, daughter, grand child) that you trust and wants to learn the business have them open the business. You may be able to draw a check (below a certain amount) and not jeopardize your benefits.

 

Again, I'm no CPA or Attorney and would recommend that you contact a competent CPA and explain your situation.

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I am a disabled vet and i recieve a stipend and medical care from VA, however i want to start a purchase, rehab, and sell real estate company to hire and train people in this area. I do not know what business entity to use so that i do not compromise my medical care and stipend. Hope someone can help. Thanks

 

Charles,

 

As I understand it, your VA benefits are determined by your service related disability and your military service. As long as your service related disability persists, you get the VA benefits you are currently receiving.

 

Outside income from your own business will have no impact upon your benefits.

 

Your choice of business entity should be influenced by your investment plan, your estate plan, and your income tax bracket. Get input and feedback from your CPA, your estate plan advisor, and your attorney on which business entity is best for you.

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