FAASTA.E State Assistance Authorization (STAA) : 06 State Assistance Types of Earned Income - Overview : I State Assistance Types of Earned Income - Self Employment Income
I State Assistance Types of Earned Income - Self Employment Income
For the purpose of budgeting income for State Assistance, Self Employment income includes income received from a business enterprise such as, but not limited to, the following:
 
Blood or blood plasma sales
Boarders or roomers
Cosmetic sales
Farming
Fishing
Guiding
Hunting
Janitorial work
Odd Jobs
Ranching
Swap meet sales
Wholesale or retail sales
 
Self employment income consists of GROSS income received minus allowable business expenses. When the income received is MORE THAN the business expenses, the difference is considered to be the gross profit.
 
The gross profit is COUNTABLE income.
 
Key the gross profit income in the GROSS EARNINGS field on STAA. (See Budgeting Income)
 
For acceptable verification of self employment income, see Self Employment Verification.