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-   -   Separating Home and Business (https://www.daycare.com/forum/showthread.php?t=90507)

LindenStDaycare 10-14-2018 06:26 PM

Separating Home and Business
 
Is there a way to legally separate your home/property from your in-home daycare business? I worry that if I were to ever be sued, my home/vehicles/etc. could be taken.

Iím in NY state. Iím not required to file a DBA/LLC/etc. but if that helps then I would.

Thanks for any input!

Michael 10-14-2018 11:29 PM

Iíve had close to a dozen LLC or S-corps. They are a level of protection from your personal assets. Consult you accountant or financial planner to find out which suits your needs. When you commingle personal with business espenses and liabilities, it can make things difficult if a client wants to bring a civil suit against you. The more distinct the separation, the better the protection. Here are some LLC threads that may be of help to you. https://www.daycare.com/forum/tags.php?tag=llc

Daycare Insurance 10-15-2018 10:43 AM

The best thing you can do is get a commercial and professional liability policy. This will cover you in the event that you're sued by a client, which will help protect your assets.

ellisacoy 10-08-2019 10:52 PM

Gratitude
 
Thank you very much for this thread. It has been extremely useful.

rosieteddy 10-11-2019 05:28 AM

Look into something called The Homestead Act.You can file papers to protect your home.Also the liability policy.


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