Direct Talk

Every September this blog returns to one of the most common questions North Carolina entrepreneurs ask: I am making money from my hobby. When does it become a real business, and what do I need to do about it? Whether you are selling handmade goods at craft fairs, offering holiday decorating services, or running a side venture that is quietly outgrowing the word 'side,' the answer matters for both legal and tax reasons. Here is the overview.

Before you start tossing receipts and other business documents into the trash, you should know what to keep and for how long.