Public Benefits and Work Supports
SSA Supports Self-Employment
Are you thinking about becoming self-employed while receiving SSI or SSDI benefits? Setting up your own business may be a great way to reach your employment goals and increase your income. Contact your local CWIC or WIPA to discuss options regarding countable resources and income before moving forward with self-employment. Find your local CWIC or WIPA here.
Navigating Entrepreneurship with Workforce GPS
The Workforce Innovation and Opportunity Act (WIOA) includes a significant focus on entrepreneurship that encourages funding self-employment and business creation through the public workforce system. If you are interested in entrepreneurship, the WorkforceGPS website has numerous resources available on this topic to help you get started. This includes the Whitehouse report, "A Strategy for American Innovation," which highlights the importance of entrepreneurship support and training for economic development and innovation.
Taxes and Tax Preparation
Tax Tips to Start Your Own Business
Interested in starting your own business? Taxes are a big part of owning a business, so to be a successful business owner, you need to understand your tax obligations. The IRS has numerous educational webinars and tax tips available to teach you how to be tax compliant. Learn more about structuring your business, types of business taxes, employer identification numbers (EIN), methods of accounting, the health care tax credit for small businesses and more by visiting IRS Tax Tips for Starting a Business.
Money Smart For Small Business
FDIC and the U.S. Small Business Administration have created Money Smart for Small Business. This 13-module curriculum is ideal for individuals who are looking to start a small business or currently manage a small business. Topics covered in the 13 modules include: “Is Owning a Business a Good Fit for You,” “Managing Cash Flow” and “Time Management.” Each module includes a fully scripted instructor guide, participant workbook and PowerPoint slides. Learn more about Money Smart for Small Business.
Assets Needed for Self-Employment
If you need equipment to be self-employed, and you are an SSI or SSDI beneficiary, SSA can provide you with the proper work supports. SSA also has a special program called PASS that can help those who need to save money and resources to start a business. Contact your local CWIC or WIPA to discuss options towards saving and owning equipment for self-employment. Find your local CWIC or WIPA here.
A Closer Look at ABLE Programs
How can you tell which state’s ABLE program is right for you? On August 4, the ABLE National Resource Center held a webinar for potential ABLE participants, their families and other stakeholders focused on understanding the differences between various ABLE programs currently available in Ohio, Tennessee, Nebraska and Florida. The webinar reviews the enrollment process, associated fees and investment opportunities of each program. To learn more, view the archived webinar.
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