BrianDavisCPA Posted December 10, 2022 Share Posted December 10, 2022 I’m trying to complete the CSS profile. There is a question about the value of my business. I have a small corporation. No employees. Just me. I provide accounting services. The only asset I have in the business is the cash in my bank account. So is that the value? If I were to sell the business I wouldn’t sell the cash. I would pay that out to me first. So is the value really zero? to put this another way, if I don’t include the value of that cash in determining the value of my business, why not move all of my personal cash and investments to the business to make myself look poor for the css? Quote Link to comment Share on other sites More sharing options...
JanetC Posted December 11, 2022 Share Posted December 11, 2022 I'm not a business owner and so will not provide advice, but the CSS is a paid service, if you have any questions about the right way to fill it out you should call their helpline. Quote Link to comment Share on other sites More sharing options...
BrianDavisCPA Posted December 11, 2022 Author Share Posted December 11, 2022 They have a helpline??? I had no idea. Thank you. Not being facetious. Quote Link to comment Share on other sites More sharing options...
JanetC Posted December 11, 2022 Share Posted December 11, 2022 Yes! https://cssprofile.collegeboard.org/contact-us 1 Quote Link to comment Share on other sites More sharing options...
Sebastian (a lady) Posted December 12, 2022 Share Posted December 12, 2022 (edited) I like the Facebook group Understanding College Aid for questions like this. There was a recent discussion of valuing small businesses for financial aid purposes. I don't think the cash would be ignored. It's an asset of the business. If you'd extract cash one direction and also sell other assets to someone else, the cash held by the business now would still be part of it's current value. Beyond the cash in bank value, would there be a client list worth selling to another company? Edited December 12, 2022 by Sebastian (a lady) 2 Quote Link to comment Share on other sites More sharing options...
BrianDavisCPA Posted December 12, 2022 Author Share Posted December 12, 2022 tank you. looking into that facebook group. 1 Quote Link to comment Share on other sites More sharing options...
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