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Social Security Retirement Income & LLC Business Profits
I'm collecting SSI Retirement Income and own a brick and mortar business i.e. flower shop.
Last year for 2020, I paid myself as a W-2 wage earner $16,150. The business made on Schedule 1, Line 3
$ 29,435. Social Security Administration added the business income to my personal income W-2 and states they overpaid SSI Retirement Income by $9000 +. SSA states this is an Overpayment.
This profit is working capital for the business, it was not taken out of the business.
Do I owe this back to SSA or did they error in asking for an overpayment.
‎October 27, 2021
9:45 AM