I am at my wits end with conflicting advice from 2 tax people, 2 insurance people and an attorney.
I have been doing home daycare for a year now so this is something I probably should have done before...better late than never.
I was told recently by a good friend who also has a home daycare that I should become an LLC because it would seperate my personal property from any liability, basically I couldn't get sued for my house and cars if god forbid something happened and I was in a legal situation.
What is true?
I've heard yes and no and I've heard get more insurance, but how much?? I was told 2 different things about how my taxes would need to be done, that a: nothing changes but my tax id and b: I have to file a seperate return and don't get to deduct nearly as much as I can know..(really don't like that option!!)
Can anyone advise me on what you know and also what you do. I just found this forum tonight searching and will definately be back because it looks like there is so much great information and great people here. Thanks for your help!!