Do need based schools really step up to the plate?

[sylvan8798]

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@rundmc123

$100k and the business loses $10k you can report a total income of $90k on taxes, but the college will not use that same $90k number. They’ll look at home deductions, depreciation, other expenses that add up to a loss and then add them back in. Also, they may just consider it a wash and use the $100k as your family income - you don’t have to invest in a losing business over paying for college, that’s your call.

Your example doesn’t make sense. Having a business that grosses $100K and nets $90K would be pretty darned good. Every business has operating expenses, taxes, pay to employees, etc. You don’t just get a gross income and have nothing that you put out for it.</p>

<p>Now even in OP’s example, saying “well you don’t have to invest in a losing business, so we are going to punish you for that choice by counting ALL of the gross income you took in (because apparently you are too stupid to avoid having any expenses?)” doesn’t really make any sense whatsoever. If they set the OP’s EFC too high for her to consider, that won’t be the reasoning.</p>