answersLogoWhite

0


Best Answer

ALL MONEY that you receive must be declared to the Social Security Dept.

If it is a new asset or some income from any source whatever, or even a winning in a lottery it must be declared to Social Security ASAP.

Obviously if you won $200,000 from Tattersalls, your fortnightly Social Security benefits would be reduced. Of course if you put it in the bank or bought shares with it, then Social Security would easily find out about it. So you cannot cheat on them, nor should you even think about it.

Don't know how it is in other places around the world such as the answer above, but in the US, one can earn money while on social security. It depends on whether the individual has reached "full retirement age" as to whether and how much the earnings will be taxed. Check with your accountant.

User Avatar

Wiki User

βˆ™ 12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can a person who receives social security receive money from oil and gas?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can a person who receives Social Security be a cosigner?

yes


What is the amount of money a person receives in social security based on?

is there a limit as to how much money a person on social security can accumulate


Does widow receive her husband's social security benefit if it is greater than her own?

Yes, a widow receives the social security benefit that is the higher of the two, but she cannot receive both.


Can a person get pension and Social Security?

Yes, a person can receive both a pension and Social Security benefits. However, receiving a pension may affect the amount of Social Security benefits a person receives due to the Windfall Elimination Provision (WEP) or Government Pension Offset (GPO) rules. It is important to understand how these rules may impact your benefits.


Can a deaf person receive social security benefits?

yes


Do people on social security disability receive refunds for taxes?

Only if the person works and has paid into Social Security.


Who was the first person to get a social security number?

The first person to receive a social security number is actually unknown. See Related Links.


Can a person who receives Social Security be a cosigner for a car loan?

IF the lender approves, YES.


Who was the first person to receive the social security act?

Harry turman


If a person receives social security for a child and grants temporary guardianship to an individual but continues to receive the benefits will the SSD reimburse the guardian for expenses?

No, unless you went to court and was granted temporary guardianship.


Can a person on Social Security Disabilty receive veteran's benefits also?

Yes you can.


Can a person receiving ss retirement also receive medicaid if they are disabled?

Yes, a person receiving Social Security retirement benefits can still apply for Medicaid if they meet the eligibility requirements based on disability. Medicaid eligibility is not solely determined by the type of Social Security benefit a person receives, but rather factors such as income, resources, and disability status.