Our small business can be excluded as an asset because we employ less than 100 and is solely owned by the family running it. On the FAFSA 4 caster it asked for assets. The three questions are…
- total of savings, cash checking etc.
- What is the net worth of your parents' investments, including real estate (not your parents' home)?
- What is the net worth of your parents' current businesses and/or investment farms?
Here is my question…
If we own the building that the business is conducted in, won’t that be excluded as an asset in question 2? (by the way it is not a rental property or vacation home we actually run our business out of this property.)
Here is the exclusion info here…
http://www.finaid.org/fafsa/smallbusiness.phtml
