This paper presents a theoretical and computational approach to solve inelastic structures subjected to overloads. Current practice in structural design is based on elastic analysis followed by limit strength design. Whereas this approach typically results in safe strength design, it does not always guarantee satisfactory performance at the service level because the internal stiffness distribution of the structure changes from the service to the ultimate strength state. A significant variation of relative stiffnesses between the two states may result in unwanted cracking at the service level with expensive repairs, while, under certain circumstances, early failure may occur due to unexpected internal moment reversals. To address these concerns, a new inelastic model is presented here that is based on the nonlinear material response and the interaction relation between axial forces and bending moments of a beam-column element. The model is simple, reasonably accurate, and computationally efficient. It is easy to implement in standard structural analysis codes, and avoids the complexities of expensive alternative analyses based on 2D and 3D finite-element computations using solid elements.