Has anyone sold their home

[bright sparks]

Rewind, Rewind, Rewind....Do not panic. This does not apply to home daycare businesses. We are not registered business', and nor do we need to be. We are sole proprietors and capital is only calculated on our purchases made above $200 per item and then with an annual depreciation for tax purposes. Many years ago I considered registering as a business so I could use my gross income when applying for a mortgage etc. My accountant strongly advised me against it because it is at that point that the home becomes capital and then what you are talking about would apply. But that isn't a new thing at all, it has been around for many years. Don't believe everything you read online, especially business rules. Many of them do not apply to home daycare providers.

I have operated my daycare in 3 homes I have owned in Ontario. This concern you have is unwarranted. I have also closed my business down once before. Only thing that can occur at that time is when selling business items/equipment. Fortunately I didn't sell mine as I didn't get around to it yet, and since then I have reopened my daycare.