<p>My dad owns a bar and restaurant and has an accountant, who we asked to help us fill out the business supplement from collegeboard. Then he went into this detailed explanation of how we did not need to submit a business supplement even though we own a bar and restaurant.
I was confused, but he seemed like he knew what he was talking about, and he has 3 kids in college.
He said he was so sure that he would give us his personal phone number to give to colleges/collegeboard if they claimed that we did need one.</p>
<p>I just want to know if anyone here whose parents own a restaurant and/or bar submitted a business supplement.</p>
<p>The rest/bar that your father owns is indeed considered a business. Depending on how the business income taxes are filed and how collegeboard views the business tax information, the supplement may be necessary. Quite honestly, accountants are the worst people to ask about financial aid information. Avoid tax professionals as well, they know next to nothing about FA requirements, unless they have worked in the industry. The business will definately be considered a business asset when you complete the FAFSA, so my assumption is that the same will apply in this case.</p>
<p>It may not be a business for FAFSA purposes (only businesses with 100 or more employees must be reported), but it is without question a business for CSS Profile purposes.</p>