If you treat a business as a hobby, you will make hobby income. If you treat a business as a business, you will position it to be profitable. What differentiates a hobby from a business is that a hobby has little to […]
The journey begins… Long before the thought of establishing an online craft business, Cheryl Hinton was looking to find a Christmas gift for her great-niece. She in for a rude awakening. She discovered that stores lacked dolls of color. It was November […]
I’ve always prided myself on being adaptive and embracing change. That is, until last year, during the third trimester of my pregnancy, when I was faced with one of the hardest decisions ever. I realized that no matter how flexible someone is, a small part of us can be blind to making a change. Therefore, I changed directions from selling DIY jewelry kits to being a digital magazine and education platform for crafters.
Other than tax and accounting professionals, nobody gets excited about taxes. If you do crafts as a hobby or run a small craft business, it’s not only important that you have a good understanding of tax reporting requirements