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Author Topic: Starting out offering Before and After School  (Read 2791 times)

Offline MeMe

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Starting out offering Before and After School
« on: February 13, 2012, 11:38:54 AM »
Hi Everybody,
I am hoping to get a few kids starting in September in our new home for before and after school for the school that is right in my backyard. I have a few questions.

Do I need to register this for a business number with the government?

How do I determine what taxes I will have to pay at the end of the year?

Offline Rose

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Re: Starting out offering Before and After School
« Reply #1 on: February 13, 2012, 04:53:45 PM »
For the legislations regarding your proposed business, you will have to contact your provincial government.  In Saskatchewan, before and after school programs are regulated under the Department of Learning.

For taxes, you will want to print off the form Using your Home for Daycare.  Revenue Canada considers Before and After School programs run in your own home to be taxed as daycares.

You will not have to worry about paying much in taxes.  If you deduct everything you can, from supplies to mortgage insurance, the most I have ever paid in 7 years is $600.

Offline Rose

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Re: Starting out offering Before and After School
« Reply #2 on: February 13, 2012, 04:57:05 PM »
As for registering your business, that is more a matter of if you want to keep your business name exclusive.  If you do, then by all means register the name (about $200 for the search and to register) and then pay about $100/year to keep the name.

Personally, I did a search, found out how much it cost, and decided no one really cared, as the money is not going into a business account, it is going into my account.  If someone steals my business name and objects to my using "their" name, I'll just change it.

Offline MeMe

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Re: Starting out offering Before and After School
« Reply #3 on: February 14, 2012, 12:42:37 PM »
What about home insurance? Was this something that went up in cost in regards to that? Does insurance something that needs to know about caring for more children in your home?

Offline Rose

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Re: Starting out offering Before and After School
« Reply #4 on: February 14, 2012, 04:56:05 PM »
When I started daycare, I was able to add daycare to my home insurance.  They said I could care for up to 4 children.  Any more than that and I had to get specialized daycare insurance that I was able to access through a provincial daycare association (SECA), which also provided me with MUCH better coverage.

To begin, you can just add daycare to your home insurance.  It's relatively easy, just inform them and ask them how much.  Once you have outgrown them, you can enquire through local daycare sources and centres as to they get their insurance.

 

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