<p>My dad thinks we should wait to complete the CSS profile until the new year, as he won't be making as much money due to the recession. I've always thought you should get it in asap, since they'll have to adjust everything later anyway. What do you think?</p>
<p>If you complete the CSS profile now (November/December) it will need to be done using an estimate of 2009 earnings. If you complete it next year (Jan-Feb) it will be done using actual 2009 earnings. It doesn’t matter what your father’s 2010 earnings are for the 2010-2011 school year.</p>
<p>You should fill it out according to the deadlines of the schools to which you’ve applied. If schools have a priority filing deadline in November/December for Profile, then that’s when it should be filled out. Many EA and ED school ask for the Profile to be submitted in Oct/Nov/Dec and then updated with actuals in Jan/Feb. For regular decision, schools will often have a Feb/Mar deadline for Profile.</p>
<p>I have a very complex tax structure so I’m waiting until my accountant can get my 2009 taxes done (there is no such thing as “estimating” in my situation of a business, etc). My accountant THINKS he can get mine pretty much done DURING the last week of January…but</p>
<p>WATCH OUT FOR DEADLINES if you wait, because my D has 1-2 schools that require it be done by 2/1/10. </p>
<p>So I don’t see any reason to do it now and change it later…the numbers in it will be completely irrelevant. But, as others have said…you won’t benefit from a lower 2010 income until you file again in 2011.</p>