Registering my daycare advice and tips

[mayanna]

Hello everyone!

Hoping I can get some great feedback from everyone so here goes...

I want to open up my own home daycare but I will have someone else caring for the children (1 of which is mine). I will be providing all toys, ,meals, etc etc...she will simply be 'coming to work'. Reason why I do not want to take on the obligation of caring for other children is because I actually enjoy my current f/t job and dont want to give it up. At the same time, I am tired of paying lots of $$$ for daycare fees so I thought why not take advantage of the fact that we live in a great neighbourhood with a million kids and have the luxury of my own child being at home with other children and taken care of by a certified and trusted caregiver.

Long story short, what I would like to get feedback on is the whole registration part of the business. I understand that if I decide to simply name the daycare in my own name, I do not have to register the business...is this correct? my concern however is that I will not be the caregiver so do the same rules still apply? The person who will be taking care of the children is not interested in benefits or any of that stuff, but dont I have to claim something since I am paying her???

Its a bit of a tricky situation and again, I dont really want this to be a 'business' per say, moreso a home that provides daycare. At the same time, I dont want to bend any rules and learn at tax time that I owe a million dollars for taking the wrong measures to get this started...any advice would be wonderful.

Thanks in advance and hoping to learn some great feedback!

[zen39]

Hello everyone!

Hoping I can get some great feedback from everyone so here goes...

I want to open up my own home daycare but I will have someone else caring for the children (1 of which is mine). I will be providing all toys, ,meals, etc etc...she will simply be 'coming to work'. Reason why I do not want to take on the obligation of caring for other children is because I actually enjoy my current f/t job and dont want to give it up. At the same time, I am tired of paying lots of $$$ for daycare fees so I thought why not take advantage of the fact that we live in a great neighbourhood with a million kids and have the luxury of my own child being at home with other children and taken care of by a certified and trusted caregiver.

Long story short, what I would like to get feedback on is the whole registration part of the business. I understand that if I decide to simply name the daycare in my own name, I do not have to register the business...is this correct? my concern however is that I will not be the caregiver so do the same rules still apply? The person who will be taking care of the children is not interested in benefits or any of that stuff, but dont I have to claim something since I am paying her???

Its a bit of a tricky situation and again, I dont really want this to be a 'business' per say, moreso a home that provides daycare. At the same time, I dont want to bend any rules and learn at tax time that I owe a million dollars for taking the wrong measures to get this started...any advice would be wonderful.

Thanks in advance and hoping to learn some great feedback!

Just one little piece of advice is to check with your insurance company as well...I'm not sure how they would feel about insuring this without you being the provider. Good luck.