Maybe Someone Can Help With My Questions?
I'm always toying with the idea of letting my registration lapse and taking the ## of dcks my state will legally allow(2 dcfs are allowed). But my concerns are taxes and insurance. How would that work?
Can I still claim deductibles as a business and everything else the same way I've been doing? And insurance could be a problem. My ins. co. threatened to take away my homeowners and car insurance 15 yrs. ago because I wasn't registered. But then I was taking over the limit of legal #s for being legally unlicensed. If I took 2 dcfs, would I still need extra insurance? I just don't trust companies anymore because they're going to go for what they can get. :( So any advice? |
I run legally unlicensed. In my state you can have 6 kids. You can still deduct things the same on your taxes. My insurance ( state farm) added a daycare rider to my plan which covers me.
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I think the only difference, in most states, is the food program and accepting state assistance. Other than that it is all the same. I think even Tom once wrote that even an illegal day care can do taxes like an legal day care.
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License exempt
Originally Posted by Josiegirl: |
Originally Posted by TomCopeland: |
Can you add an additional liability policy to your homeowners to cover the daycare?
I was legally unlicensed for a few years and did that, claimed everything and was even on the food program! |
Originally Posted by daycarediva: |
Insurance
I've posted an insurance directory on my website of companies that insure providers: http://tomcopelandblog.com/child-car...ce-directory-3
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Originally Posted by TomCopeland: |
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