How does the FAFSA ask about self-employment vs. employee? I am self-employed (Own my business) but file personal tax returns only on the income I pay myself. I have never filed taxes on my business account. I pay expenses out of that account. Nothing is really left over, but I will pay rent or buy supplies, etc. I called a bookkeeper and he said it would take 5 months to get the business part straightenend out. What can I do? Should I go ahead and report just the income from my payroll account? I don't want to blow it, be dishonest, or go to jail. On the other hand, my payroll income was less than 50K, the business income was used for expenses with nothing left over, and I have NO assets. Please, please, someone help.