Is value of small business = assets?

[Mwfan1921]

Small businesses have to reported now on FAFSA as well as CSS Profile. In CSS, if colleges set aside a certain amount for a small business, that would vary by school I expect. I would call each school’s financial aid department and ask them what they want there. Note on the following thread (focused on FAFSA) that the OP received different answers from the schools. @politeperson @kelsmom @belknappoint @twoin18?

FAFSA question - Small Business Owner

I own my own small business where I am the only employee (S-Corp but it’s always been just me). I have no inventory, retail/office space etc. I don’t sell anything and charge for my time. My ipad and laptop are all I need to run my business although of course I do have expenses to pay like my insurance, CPA, website hosting fees, software etc. Where on the Fafsa do I include the amount of money in my business checking acct? On any given day it ranges from 10k-15k. And how would I determine what my business value is? I read somewhere it was if you were going to sell your business, what could you sell it for but in my case, my business is me so therefore can’t be sold. Is it the value of my ipad/computer which could be sold if I were to close my business?