CSS Profile messed up my financial aid

ScreenName48105
Thu, 14 Apr 2016 12:52:06 +0000

I used to be an owner of an S-corp and if I remember correctly, the way it worked was that any profit the company made was passed through to me as income. I don’t ever remember the company’s gross income being reported on my taxes as my income. The corporation had its own tax number for bank accounts and such; interest income would have been reported with the company tax number, not my social security number.

Mine was a very small company (just two owners) but we still had a balance sheet and filed a company tax return, and the articles of incorporation showed the division of ownership. Given a situation like yours, those would be the “documentation” I would use to show the financial status of the company and my share of its assets/income. It would be extremely unusual, I think, for the company not to have such documentation available.