Thanks for that. This has piqued my interest, so I got onto Columbia’s NPC. This is what it says about small businesses:
"If your family owns a small business, click here for more information
Reporting ‘total income’ for families that own small businesses may be complicated due to U.S. tax law and IRS regulations. Columbia’s Quick College Cost Estimator results are accurate for approximately 90 percent of families, including small business owners. A likely cost range is displayed along with the personalized estimate on the results page, and families that own small businesses often fall closer to these low and high boundaries. In general, if your family owns one or more small businesses, then you should include income received from your businesses in total family income. In most cases, business income refers to the owner’s share of taxable income before IRS deductions for depreciation, vehicle expenses, meals, and business use of your home."