If you pay taxes as self-employment, will it be considered as a Business?

I work as a child-care provider. I do it at my home, and every year I pay my self-employment taxes. I have been doing it for 3 years now. I have 7 children that I care for on a daily basis. Would this be considered as my own business?

If you pay taxes as self-employment, will it be considered as a Business?
Yes, it is a business. I hope you have been writing off your expenses before paying taxes.
Reply:By definition, for tax purposes, it's your own business.
Reply:Yes, it is a business.
Reply:Yes it would. However, in light of your question, I wanted to ask or rather ensure that you are not doing this as a sole proprietor. While you would still be considered a business, you are left open for massive liability.
Reply:I hope you have been keeping track of all your out of pocket expenses that comes along with child care such as clothing, diapers, toys, food, utilities at home, gas and mileage when you take them somewhere and pick them up etc. If you have not then you should go to your nearest tax professional and do an amendment for the past 3 years you have been doing this.........

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