Who is considered self-employed?

Paying for College
1

<p>Hi. My parent owns a business and he has 3 employees. Is he considered self-employed? Should I check in the CSS Profile that he owns a business but he is not self-employed? How does it affect financial aid in the long run?</p>

2

<p>He is a small business owner. That is different from being self-employed.</p>

3

<p>You can’t be self employed and have employees?</p>

4

<p>Ask your father if he pays any self-employment taxes.

Yes, you could.</p>

5

<p>Of course you can…I was questioning happymom’s answer. As is stated, a good first step is to see what kind of tax return your parent files. Does he file a Schedule C for self-employed individuals (which form is used even if he has employees or it is only a one person business). However, he could “own” the business as a corporation and be an employee of the corporation and receive a W2 for wages. That is where you start getting into the financial aid particulars that I am not as familiar with.</p>

6

<p>I would think that a business owner is self-employed for the purposes of the CSS question.</p>